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Question 1 of 10
1. Question
What is the main difference between proportional and non-proportional insurance in the reinsurance policy?
Correct
An original liability and proportional cession are the basis for proportional reinsurance, whereby in the case of non-proportional reinsurance, it is the limited amount of loss and the cover. It is also referred to as “excess of loss reinsurance”.
Incorrect
An original liability and proportional cession are the basis for proportional reinsurance, whereby in the case of non-proportional reinsurance, it is the limited amount of loss and the cover. It is also referred to as “excess of loss reinsurance”.
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Question 2 of 10
2. Question
What are the measures for facultative reinsurance?
Correct
Each insurance contract is negotiated and reinsured on its own merits in Facultative reinsurance so that it allows the reinsurance company to review individual risks and determine either to reject or accept them.
Incorrect
Each insurance contract is negotiated and reinsured on its own merits in Facultative reinsurance so that it allows the reinsurance company to review individual risks and determine either to reject or accept them.
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Question 3 of 10
3. Question
What is the health care cash plan?
Correct
A health cash plan refers to health insurance products that help people cover everyday healthcare needs by providing cashback on a range of health benefits including dental and optical. Health cash plans are an affordable way to manage the increasing health costs that can affect a family. Health cash plans are generally available via an employee benefits system, but can also be signed up to on an individual basis based on one’s personal needs.
Incorrect
A health cash plan refers to health insurance products that help people cover everyday healthcare needs by providing cashback on a range of health benefits including dental and optical. Health cash plans are an affordable way to manage the increasing health costs that can affect a family. Health cash plans are generally available via an employee benefits system, but can also be signed up to on an individual basis based on one’s personal needs.
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Question 4 of 10
4. Question
What is the main difference between medical insurance and health care cash plans?
Correct
The main difference between medical insurance and health care cash plans is the basis of the compensation, which is indemnity in medical insurance and fixed benefits in health care cash plans.
Incorrect
The main difference between medical insurance and health care cash plans is the basis of the compensation, which is indemnity in medical insurance and fixed benefits in health care cash plans.
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Question 5 of 10
5. Question
Travel insurance is a type of insurance by which policyholders are indemnified for a number of diverse risks during travelling. Most of the indemnities are low-value, but one scene has a major loss effect, Which one of the follows is it?
Correct
During traveling a type of insurance that indemnifies policyholders for a number of very diverse risks such items as booking cancellations, missed departures, lost luggage, lost money/documents, medical expenses, hospitalization, a death benefit, personal accident, legal cover, etc is known as the travel insurance. All the possible types of cover such as property, liability, financial loss, fixed benefits are normally included in a travel insurance policy. Most of the indemnities are low-value but the provision of indemnity for medical care abroad opens up the possibility of large losses in millions of pounds.
Incorrect
During traveling a type of insurance that indemnifies policyholders for a number of very diverse risks such items as booking cancellations, missed departures, lost luggage, lost money/documents, medical expenses, hospitalization, a death benefit, personal accident, legal cover, etc is known as the travel insurance. All the possible types of cover such as property, liability, financial loss, fixed benefits are normally included in a travel insurance policy. Most of the indemnities are low-value but the provision of indemnity for medical care abroad opens up the possibility of large losses in millions of pounds.
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Question 6 of 10
6. Question
How do underwriters use the imposition of the deductible for the frequency of losses due to systemic effects?
Correct
Deductibles are provided as clauses in an insurance policy that dictate how much of an insurance-covered expense is borne by the policyholder. They are normally quoted as a fixed quantity and are a part of most policies covering losses to the policyholder. The insurer then becomes liable for claimable expenses that exceed that amount.
Incorrect
Deductibles are provided as clauses in an insurance policy that dictate how much of an insurance-covered expense is borne by the policyholder. They are normally quoted as a fixed quantity and are a part of most policies covering losses to the policyholder. The insurer then becomes liable for claimable expenses that exceed that amount.
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Question 7 of 10
7. Question
At what significant cover, does the sickness insurance apply?
Correct
Sickness insurance is a type of income protection policy that replaces your income if you’re unable to work due to injury or illness. It enables you to cover monthly outgoings until anyone who has an accident is back on his feet again.
Incorrect
Sickness insurance is a type of income protection policy that replaces your income if you’re unable to work due to injury or illness. It enables you to cover monthly outgoings until anyone who has an accident is back on his feet again.
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Question 8 of 10
8. Question
What is NCD (no-claim discount) in the field of private-motor-non-comprehensive insurance policy?
Correct
A no-claim discount is a discount on the Car Insurance premium, that increases each year, for not making an at-fault claim. It’s also known as a no-claim bonus. The more consecutive years, the insured remains claim-free, the bigger discount is offered. At some companies, the NCD is capped at 5 years.
Incorrect
A no-claim discount is a discount on the Car Insurance premium, that increases each year, for not making an at-fault claim. It’s also known as a no-claim bonus. The more consecutive years, the insured remains claim-free, the bigger discount is offered. At some companies, the NCD is capped at 5 years.
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Question 9 of 10
9. Question
How does the payment protection insurance help the insured?
Correct
An insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill or disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt, is known as credit insurance, also known as payment protection insurance.
Incorrect
An insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill or disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt, is known as credit insurance, also known as payment protection insurance.
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Question 10 of 10
10. Question
What is the major difference between payment protection insurance and income protection insurance?
Correct
Income payment protection covers any income, but payment protection insurance covers income specific to a debt.
Incorrect
Income payment protection covers any income, but payment protection insurance covers income specific to a debt.