Insurance Concepts Exam 3
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Insurance Concepts Exam 3
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25 Questions

1. Medical malpractice insurance usually provides for
2. Which of the following does not improve auto safety?
3. Why is a large number of exposure units generally required before a pure risk is insurable?
4. An insurance agent who sells the products of only one insurance company is a(n)
5. Which if the following is not an exclusion under a health policy?
6. An individual, usually but not always the buyer, who receives benefits from an insurance policy
7. Insurance policies combining property and casualty coverage in the same contract are called
8. Any loss specifically not covered by a policy is a(n)
9. Risk is defined as
10. Joseph was just named risk manager of Big Time Company. He decided to create a risk management program which considers all of the risks faced by his company—pure, speculative, operational, and strategic. Such a program is called a(n)
11. The function responsible for evaluating applicants for insurance to determine whether they meet the insurer’s selection criteria:
12. Which of the following items is not a rating factor?
13. The best way to protect a small child in an auto is
14. Another term for a salary continuation plan is
15. Most of the premiums collected by auto insurance companies:
16. Which of the following is not one of the three main types of life insurance?
17. What is the type of insurance which pays for workers hurt in the course and scope of duty?
18. Property insurance does not cover?
19. Supervision of advertising programs of insurers is most likely to be under which department
20. A type of short term insurance is
21. A higher deductable results in
22. The purchase of insurance is a common form of
23. If you have an insurance claim of $10,000 and your deductable is $500 how much do you owe the insurance company?
24. The primary loss that results from disability is typically the
25. The likelihood an event will occur is called

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