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Skill Front Certified Insurance Industry Fundamentals Practice Test
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Skill Front Certified Insurance Industry Fundamentals Practice Test
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25 Questions

1. What is the limit of liability for an insurer?
2. What were the Dutch people afraid of with the payment of annuities?
3. What are the types of life insurance products?
4. Why could we compare insurers to squirrels?
5. What did the regulators impose to insurers in order to withstand significant losses and unknowns?
6. Which statements are correct when talking about insurance?
7. What are the types of firms offering insurance contracts?
8. What are the pay-out schemes for life insurance?
9. What is the main rule for insurance?
10. What are the main advantages of savings products offered by insurers to those offered by the banks?
11. What is a deductible in an insurance policy?
12. How were the Romans able to pay annuities to their soldiers or people who gave them a premium?
13. How did the Romans manage to pay their 'insured' with the collected money?
14. What did the Chinese Merchants understand which is at the core of the insurance business model?
15. What did the Babylonian understand almost 2000 years before Jesus Christ?
16. What is an annuity insurance product?
17. When does an insurance cover start?
18. Why would we see these results for 2018 as being solid?
19. Why did Romans develop Financing facilities and guarantee the payment of the bills in case of an accident at sea for the cargoes?
20. What are the main problems with unit-linked insurance plan?
21. Based on the above illustration, what did the acquisition of Friends Life insurance to Aviva’s shareholders in 2015?
22. Which statements correctly capture why the use of the law of large numbers is important for insurers?
23. What did the Flemish people put in place, back in the 13th century, to their annuity contracts to consider the potential changes to the future costs of life?
24. What did the Geneose put in place for the first time to cover a risk?
25. Why are we calling general insurance contracts: 'indemnity contracts'?

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