Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. If you wanna know more in detail or test your knowledge about insurance, take this quiz!
Investigating violation of the fair credit reporting act
Providing employmetn histories for investigative consumer reports
Storing medical information collected by insurance companies
Rating the financial strength of the insurance companies
Helping insured to file claims
Performing reviews of insured coverage
Offering additional coverage to clients
Promptly forwarding premiums to the insurance company
Concealment
Withholding
Leading
Breach of warranty
Premium accountability
Express authority
Accepted accounting principal
Fiduciary responsiblity
The applicant is under the influence of a mind-impairing medication at the time of application
The applicant has a prior felony conviction
The applicant is intoxicated at the time of application
The applicant is 12 year old student
The loss produced by the risk must be definite
The lost may be intentional
The loss must not be catastrophic
There must be sufficient number of homogeneous exposure units to make losses reasonably predictable
More active
Larger
Smaller
Older
Pro rata liability
Risk management
Reinsurance
Indemnity
Based on the prudent person rule
In favor of the insured
In favor of the insurer
Through arbitration
Guides describing company financial integrity
Policy dividends
Types of mutual companies
Index used by stock companies
Fiduciary
Apparent
Express
Implied
Insurable interest
Exposure
Indemnity
Insurance
Independent agency marketing
Illegal
Insurance telemarketing
Direct response marketing
It is a benefit society formed to provied insurance for members of an affiliated lodge
It is a company owned by the stockholders that provides nonparticipating policies
It is a liability insurance company owned by it members
It provides support for underwriters and is not an insurance company
Peril
Risk
Loss
Hazard
Viatical settlement broker
Viatical settlement effectuator
Viatical settlement provider
Viatical settlement purchaser
Business partners have an insurable interest in each other
A husband or wife has an insurable interest in their spouse
An individual has an insurable interest in his or her own life
A debtor has an insurable interest in the life of a lender
Sign the application for the applicant
Sign the application, stating it was by agent
Send the application to the insurer with a note explaining the absence of signature
Return the application to the applicant for a signature
Industrial life
Credit life
Ordinary life
Franchise life
Basic insurance rate plus commissions
Expense premium
Net premium
Annual loading
Option 5
Benefits received are considered income taxable
Buy-sell agreements pay in the event of a medical emergency
Buy-sell agreement are normally funded with a life insurance policy
Premiums paid are deductible as a business expense
An applicant who is a smoker
An applicant who was born in another country
An applicant who is legally blind
An applicant who has been a victim of domestic abuse
That it policies are covered by a state guaranty association
The policies limitation or exclusion
The name of a specific agent
An identification of a limited policy as limit policy
The policyowner recieves dividend check each year
The insured recieves payment each month in retirement
Cash values can be borrowed at any time
The death benefit replaces the assets that would have accumulated if the insured had not died
Credit life
Increasing term
Whole life
Term life
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