Property and Casualty Insurance - quiz 12 - Amrit Karki
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Question 1 of 10
1. Question
For an injury or sickness to be covered by workers compensation
Correct
Examples of injuries that are not covered are those arising out of driving to and from work, employee intoxication, and intentional self inflicted injuries
Incorrect
Examples of injuries that are not covered are those arising out of driving to and from work, employee intoxication, and intentional self inflicted injuries
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Question 2 of 10
2. Question
The SFP covers only
Correct
There are many other forms used to complete the coverage under the SFP
Incorrect
There are many other forms used to complete the coverage under the SFP
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Question 3 of 10
3. Question
Ocean marine insurance policies provide coverage on
Correct
The coverage of the basic policy applies to cargo only after it has been loaded onto the ship
Incorrect
The coverage of the basic policy applies to cargo only after it has been loaded onto the ship
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Question 4 of 10
4. Question
A fixed percentage deductible is usually combined with a minimum dollar deductible so that
Correct
Fixed percentage deductibles, which may be a percentage of either the loss or the policy limit, that apply to each claim.
Incorrect
Fixed percentage deductibles, which may be a percentage of either the loss or the policy limit, that apply to each claim.
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Question 5 of 10
5. Question
A disappearing deductible as explained in homeowner insurance means if the loss is less than a dollars
Correct
If the loss exceeds b dollars, then the insurer pays the loss in full. If the loss is between a and b. then the deductible is reduced pro rata or linearly between o and b.
Incorrect
If the loss exceeds b dollars, then the insurer pays the loss in full. If the loss is between a and b. then the deductible is reduced pro rata or linearly between o and b.
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Question 6 of 10
6. Question
Disability income and sickness insurance benefits often have an elimination period, which is the period from.
Correct
Sometimes the elimination period differs depending upon whether the cause of the disability is an accident or a sickness
Incorrect
Sometimes the elimination period differs depending upon whether the cause of the disability is an accident or a sickness
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Question 7 of 10
7. Question
The total of all loss adjustment expenses and the payment of damages
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Only the payment of damages is subject to the policy limits.
Incorrect
Only the payment of damages is subject to the policy limits.
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Question 8 of 10
8. Question
Depending on the site of the claim and the legal complications surrounding it, a claim file could remain open for
Correct
During that time there could be many changes in the estimate of the expected liability.
Incorrect
During that time there could be many changes in the estimate of the expected liability.
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Question 9 of 10
9. Question
In most life insurance and pension reserve valuations, variation from expected values generally occurs only in the
Correct
Since the size of the claim is either a constant defined in the policy or a well-defined function
Incorrect
Since the size of the claim is either a constant defined in the policy or a well-defined function
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Question 10 of 10
10. Question
In property/casualty insurance, sources of variation from the expected lie in the
Correct
Experienced claim frequencies are used to model the underlying unknown claim frequency distribution
Incorrect
Experienced claim frequencies are used to model the underlying unknown claim frequency distribution