Explore the essentials of insurance with this quiz covering chapters 1-3 of INS 21. Topics include risk management, insurance policies, loss exposures, and types of insurers. Ideal for students or professionals looking to solidify their understanding of insurance fundamentals.
Worker compensation
Unemployment insurance programs
Automobile insurance plans
The National flood insurance programs
Rate this question:
The insured and insurer and agent.
The insured and the insurer.
The insured and the agent.
The insured and other third parties.
Rate this question:
Satisfying Legal Requirement
Reducing Social Burdens
Reducing the insured’s financial uncertainty
All of the above
Rate this question:
Rate Regulation
Solvency Surveillance
Consumer protection
All of the Above
Rate this question:
True
False
Rate this question:
$34
$1.5
$100
$150
Rate this question:
Exposures to loss
Civil courts.
Agents.
Reinsurance.
Rate this question:
Professional Liability Insurance
Commercial General Liability Insurance
Auto Liability Insurance
None of the above
Rate this question:
Workers compensation
Unemployment insurance programs
Automobile insurance plans
Lloyd's of London
Rate this question:
Loss Reduction Measures
Loss Prevention Measures
Risk Management
None of the Above.
Rate this question:
National Association of Insurance Company
National Association of Insurance Commodity
National Association of Insurance Commissioners
None of the Above.
Rate this question:
Reduction in Revenue, an decrease in expenses
Reduction in Revenue, an increase in expenses
Reduction in Revenue, an decrease in savings
Reduction in Revenue, an increase in savings
Rate this question:
Federal Government Insurance Programs
State Government Insurance Programs
Private Insurers
None of the Above
Rate this question:
Federal governments
Local governments
State governments
Private insurers.
Rate this question:
Underwriter
Regulator
Actuary
All of the Above.
Rate this question:
Regulators
Agents
Claimants
Shareholders
Rate this question:
Mutual Insurer
Demutualization
Mutual insurer
Reciprocal insurer
Rate this question:
Concentration of exposure
Large number of exposure units
Variety of exposure units
Dispersion of exposure units
Rate this question:
Subscriber
Syndicates
Inter insurance exchange
Demutualization
Rate this question:
Weekly Benefits
Monthly Benefits
Weekly Benefits or Monthly Benefits
None of the Above
Rate this question:
Admitted insurers
Non-Admitted insurers
Licensed insurers
None of the Above
Rate this question:
Earned premiums
Incurred losses
Underwriting expenses
Policyholders surplus
Rate this question:
Use and File Laws
No File Laws
Flex Rating Laws
File and Use Laws
Rate this question:
$15,500
$24,000
$20,000
$18,000
Rate this question:
Investment income
Policyholders surplus
Unearned premiums
Underwriting expenses
Rate this question:
10%
20%
25%
50%
Rate this question:
True
False
Rate this question:
Underwriting department
Finance department
Marketing department
Claims department
Rate this question:
Stock insurer
Mutual insurer
Reciprocal insurer
Lloyd's of London
Rate this question:
Family
Business
Individual
Both a & c
Rate this question:
Loss Exposure is subject to accidental loss from the insured’s standpoint.
Loss Exposure is economically infeasible to insure.
Loss is subject to a loss that would simultaneously affect many other similar Loss Exposure.
Both b & c
Rate this question:
Term Insurance
Whole Life Insurance
Universal Life Insurance
Disability Income Insurance
Rate this question:
Private insurer
Stock insurance companies
Mutual insurance companies
Reciprocal insurance exchange
Rate this question:
75%
95%
105%
100%
Rate this question:
Quiz Review Timeline (Updated): Mar 21, 2025 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
Insure Your Knowledge: Car Insurance Day Quiz
Welcome to the "Insure Your Knowledge: Car Insurance Day Quiz" – an interactive journey into the world of car insurance, designed to test and enhance your...
Questions:
10 |
Attempts:
26 |
Last updated:
Jan 23, 2024
|
Find The Right Health Insurance Plan For You With This Quiz
Welcome to our comprehensive "Best Health Insurance Quiz," designed to guide you in finding the perfect health coverage tailored to your needs. Navigating the...
Questions:
10 |
Attempts:
548 |
Last updated:
Dec 22, 2023
|
Test Your Knowledge Of The Signs That Can Reveal A "Totaled" Car!
Do you wish to test your knowledge of the "Signs that Can Reveal a 'Totaled' Car"? Buying a used car comes with its share of risks, especially when considering...
Questions:
10 |
Attempts:
439 |
Last updated:
Nov 16, 2023
|
Common Homeowners Insurance Questions And Answers
Here are a few common homeowners insurance questions and answers that every homeowner planning to buy a home policy should know. Also, this quiz will help in solving some of...
Questions:
70 |
Attempts:
532 |
Last updated:
May 12, 2023
|
General Insurance Agent Practice Questions With Answers
Are you a general insurance agent, or do you want to become one? If so, check out these practice questions with answers and make your understanding better regarding this concept....
Questions:
36 |
Attempts:
945 |
Last updated:
May 12, 2023
|
Know Everything About Insurance Policies - Insurance Quiz
The insurance policy is a contract between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial...
Questions:
50 |
Attempts:
374 |
Last updated:
Mar 21, 2023
|
Wait!
Here's an interesting quiz for you.