Insurance Concepts Exam 3
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Insurance Concepts Exam 3
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25 Questions

1. What is a characteristic of term life insurance?
2. Which of the following does not improve auto safety?
3. An individual, usually but not always the buyer, who receives benefits from an insurance policy
4. A rider in an insurance contract that increases the benefit amounts to keep pace with inflation is called
5. Property insurance does not cover?
6. Why is a large number of exposure units generally required before a pure risk is insurable?
7. Which if the following is not an exclusion under a health policy?
8. Any loss specifically not covered by a policy is a(n)
9. The function responsible for evaluating applicants for insurance to determine whether they meet the insurer’s selection criteria:
10. An insurance agent who sells the products of only one insurance company is a(n)
11. Another term for a salary continuation plan is
12. Which of the following is not one of the three main types of life insurance?
13. A higher deductable results in
14. Supervision of advertising programs of insurers is most likely to be under which department
15. If you have an insurance claim of $10,000 and your deductable is $500 how much do you owe the insurance company?
16. Medical malpractice insurance usually provides for
17. Insurance policies combining property and casualty coverage in the same contract are called
18. The primary loss that results from disability is typically the
19. The best way to protect a small child in an auto is
20. Most of the premiums collected by auto insurance companies:
21. 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)
22. The primary objective of medical malpractice insurance policies is
23. Risk is defined as
24. Which of the following types of risk best meets the requirements for being insurable by private insurers/
25. What is the type of insurance which pays for workers hurt in the course and scope of duty?

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