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Question 1 of 10
1. Question
Which of the following is not an aspect of disability income insurance?
Correct
The below are the typical parameters of the insurance agency for the classification of disability:
(1) Is unable to carry out the primary duties of an individual’s daily profession
(2) Unable to fulfill the primary duties of almost any profession appropriate with his or her qualifications and practice
(3) Unable to carry out the duties of any profession.Incorrect
The below are the typical parameters of the insurance agency for the classification of disability:
(1) Is unable to carry out the primary duties of an individual’s daily profession
(2) Unable to fulfill the primary duties of almost any profession appropriate with his or her qualifications and practice
(3) Unable to carry out the duties of any profession. -
Question 2 of 10
2. Question
Individuals should resolve homeowners’ risks through some other risk control strategies other than the procurement of homeowner’s insurance. Which would be the least probable to be an example of this?
Correct
The homeowner’s risks are usually expressed by the home insurance policy. That is whether it is given in the liability insurance contract for a defined sum in the case in question. The homeowner’s insurance often excludes liability arising from malicious acts—for eg, tossing a chair across a neighbor’s glass
Incorrect
The homeowner’s risks are usually expressed by the home insurance policy. That is whether it is given in the liability insurance contract for a defined sum in the case in question. The homeowner’s insurance often excludes liability arising from malicious acts—for eg, tossing a chair across a neighbor’s glass
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Question 3 of 10
3. Question
Which of the following best describes the similarity between the fixed and variable immediate annuities?
Correct
Fixed immediate annuity payments are “fixed” whether it be in nominal terms or, in actual terms, have certainty on payment sources. For both fixed and variable immediate annuities, their identical attribute is a “time certain” in conjunction with contributions that continue to be made to the assigned recipient for a period that is usually 10 years
Incorrect
Fixed immediate annuity payments are “fixed” whether it be in nominal terms or, in actual terms, have certainty on payment sources. For both fixed and variable immediate annuities, their identical attribute is a “time certain” in conjunction with contributions that continue to be made to the assigned recipient for a period that is usually 10 years
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Question 4 of 10
4. Question
Which of the following statements best describes loss control in risk management?
Correct
Loss control applies to attempts taken to minimize or remove risk-related costs. These are the three main methods to loss control:
(1) Risk reduction is the purest method of loss management.
(2) Prevention of losses
(3) Reduction of lossesIncorrect
Loss control applies to attempts taken to minimize or remove risk-related costs. These are the three main methods to loss control:
(1) Risk reduction is the purest method of loss management.
(2) Prevention of losses
(3) Reduction of losses -
Question 5 of 10
5. Question
Which of the following statements does not apply to the RPC’s responsibilities in carrying out this Investment Policy Statement?
Correct
Responsibilities of plan members include the distribution of plan expenses and accumulations among many of the different funding options made accessible and the responsibility to prepare themselves enough to make acceptable career or life-long allocations. It is also the duty of each participant to redistribute assets between funds as personal conditions alter
Incorrect
Responsibilities of plan members include the distribution of plan expenses and accumulations among many of the different funding options made accessible and the responsibility to prepare themselves enough to make acceptable career or life-long allocations. It is also the duty of each participant to redistribute assets between funds as personal conditions alter
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Question 6 of 10
6. Question
Which of the following is not a criteria for the selection and for replacement of funds?
Correct
Such funds should be:
(1) managed by a bank, an insurance firm, an investment management company, or an investment consultant who has shown financial consistency over the years
(2) Have historical quarterly results measured on a time-weighted basis and published net and gross fees.
(3) Provide performance assessment reports illustrating the risk-return profile
(4) A well-formulated investment plan to be pursued and record that the strategy has been effectively implemented over timeIncorrect
Such funds should be:
(1) managed by a bank, an insurance firm, an investment management company, or an investment consultant who has shown financial consistency over the years
(2) Have historical quarterly results measured on a time-weighted basis and published net and gross fees.
(3) Provide performance assessment reports illustrating the risk-return profile
(4) A well-formulated investment plan to be pursued and record that the strategy has been effectively implemented over time -
Question 7 of 10
7. Question
In making investment recommendations, which of the following should the board and the investment committee take into account?
Correct
A fair short time period requires below-average risk tolerance. It is crucial to regularly assess the investment strategy and portfolio from a risk management perspective, since both the risks that are essential in the markets and the risk tolerance of the fund may adjust
Incorrect
A fair short time period requires below-average risk tolerance. It is crucial to regularly assess the investment strategy and portfolio from a risk management perspective, since both the risks that are essential in the markets and the risk tolerance of the fund may adjust
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Question 8 of 10
8. Question
The non-life companies are distinctly different from those for life companies. Which best describes this distinct difference?
Correct
The non-life sector covers, but is not limited to, health, assets, liability, marine insurance, and workers’ compensation insurance. The investment policies of a firm in this field are substantially different from that of a life insurance company, since risks, risk factors, and tax requirements for non-life firms are clearly different from those for life insurance companies
Incorrect
The non-life sector covers, but is not limited to, health, assets, liability, marine insurance, and workers’ compensation insurance. The investment policies of a firm in this field are substantially different from that of a life insurance company, since risks, risk factors, and tax requirements for non-life firms are clearly different from those for life insurance companies
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Question 9 of 10
9. Question
Which of the following statements does not illustrate the differences in the most interesting characteristics of casualty insurance firms where the return on investment varies considerably from company to company?
Correct
Times have shifted and the acquisition and operational functions of most casualty insurance providers are now even more tightly organized. Factors that affect the objectives of return include the following:
(1) Competitive pricing strategy
(2) Profitability
(3) Growth of surplus
(4) Tax considerations
(5) Total return managementIncorrect
Times have shifted and the acquisition and operational functions of most casualty insurance providers are now even more tightly organized. Factors that affect the objectives of return include the following:
(1) Competitive pricing strategy
(2) Profitability
(3) Growth of surplus
(4) Tax considerations
(5) Total return management -
Question 10 of 10
10. Question
Achieving financial performance objectives is one of the most important roles of a bank’s securities portfolio. Which of the following is not a banks’ objectives in managing securities portfolios?
Correct
Apart from these, banks often use their portfolios of shares to satisfy other needs. And because the bank’s liabilities are as vulnerable to interest rates as its debt portfolio is, on the asset side, the bank’s security portfolios consist primarily of fixed-income assets
Incorrect
Apart from these, banks often use their portfolios of shares to satisfy other needs. And because the bank’s liabilities are as vulnerable to interest rates as its debt portfolio is, on the asset side, the bank’s security portfolios consist primarily of fixed-income assets