PPF 4

A “particular” risk is one which:

• Is the same as a speculative risk

• Is only applicable in the USA

• Is felt by one individual alone

• Only relates to life insurance

Which of the following are the four categories of health insurance?

• ICI, CID, PMI, PHI

• CII, RPI, LTCI, PMI

• CII, PMI, LTCI, PHI

• RPI, CPI, PMI, PHI

Whole of life assurance is:

• Only available to those with financial dependents

• Will provide cover only until age 75

• Will require premiums to be paid for the insured’s entire life in all cases

• Is more expensive than Level Term Assurance

When taking out a life insurance policy the premium will most likely be effected by:

• Your age

• Your tax status

• Your marital status

• Your nationality

Unconditional offer and acceptance applies to:

• Life assurance contracts only

• All insurance contracts in English Law

• General insurance contracts but not Life Assurance contracts

• None of the above

What is the minimum age to have contractual capacity in England?

• 16

• 18

• 20

• 21

Morbidity is a key consideration in:

• General insurance

• Pet insurance

• Car insurance

• Critical illness insurance

The key benefit of a PHI policy is that it:

Select one:

• Pays your medical expenses at a hospital of your choosing

• Pays you an income until you are able to return to work after illness or injury

• Will continue for all your life

• Pays out a lump sum on redundancy

Parents have an insurable interest in their children:

• Because of their legal responsibility for them

• In order to ensure their best interests

• As they are financial responsible for them

• None of the above

Speculative risks are:

• Not insurable

• Insurable because they often break-even

• Either loss making or break-even

• Insurable assuming there is a dependent child.