INS 21 -Chapter 1,2,3 QUIZ 1
Loss Reduction Measures
Loss Prevention Measures
Risk Management
None of the Above.
The insured and insurer and agent.
The insured and the insurer.
The insured and the agent.
The insured and other third parties.
Exposures to loss
Civil courts.
Agents.
Reinsurance.
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
Federal Government Insurance Programs
State Government Insurance Programs
Private Insurers
None of the Above
Family
Business
Individual
Both a & c
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
Underwriting department
Finance department
Marketing department
Claims department
True
False
Satisfying Legal Requirement
Reducing Social Burdens
Reducing the insured’s financial uncertainty
All of the above
Property Insurance
Liability Insurance
Life Insurance
Health Insurance
True
False
Term Insurance
Whole Life Insurance
Universal Life Insurance
Disability Income Insurance
Professional Liability Insurance
Commercial General Liability Insurance
Auto Liability Insurance
None of the above
Weekly Benefits
Monthly Benefits
Weekly Benefits or Monthly Benefits
None of the Above
Private insurer
Stock insurance companies
Mutual insurance companies
Reciprocal insurance exchange
Stock insurer
Mutual insurer
Reciprocal insurer
Lloyd's of London
Mutual Insurer
Demutualization
Mutual insurer
Reciprocal insurer
Subscriber
Syndicates
Inter insurance exchange
Demutualization
National Association of Insurance Company
National Association of Insurance Commodity
National Association of Insurance Commissioners
None of the Above.
$34
$1.5
$100
$150
Rate Regulation
Solvency Surveillance
Consumer protection
All of the Above
Underwriter
Regulator
Actuary
All of the Above.
Admitted insurers
Non-Admitted insurers
Licensed insurers
None of the Above
Workers compensation
Unemployment insurance programs
Automobile insurance plans
Lloyd's of London
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