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Trad quizzez

Authored by Rhagila Tan

Professional Development

1st - 3rd Grade

Used 10+ times

Trad quizzez
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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Life insurance companies make use of the laws of probability in order to –

A. Estimate future death rates among members of a given group

B. Predict when an individual insured will die

C. Develop statistics of past deaths among the general population

D. Determine the experienced death rate among the insured persons

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

True or False. According to the law of large numbers, events which happen seemingly by chance will actually be

bound to follow a predictable pattern if enough such happenings are observed.

A. True

B. False

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The fundamental advantage of the use of life insurance as a means of meeting economic losses is that through

life insurance these losses are

A.. Spread over a large number of people

B. Met as they arise through savings accumulated on an assessment basis

C. Deferred for a specified period of time

D. Reduced for the group as a whole through the multiplier effect

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Life insurance guarantees cash benefits for all the following except

A. Mortgage

fund

B. Clean-up fund

C. Family dependency period income

D. Educational

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Life insurance contributes directly to the welfare and progress of the country by

A. Accumulating capital for investment in commerce and industry

B. Cash values will increase for as long as the policy is in force

C. Encouraging provision for the future

D. All of the above

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

True or False. A person’s human economic value is defined as the total value of the assets and any future

earnings derived there from.

A.True

B.False

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

True or False. A person’s human economic value is defined as the total value of the assets and any future

earnings derived there from.

True

False

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