Global Insurance Knowledge
Quiz
•
Other
•
12th Grade
•
Practice Problem
•
Medium
Kawango Edward Simukonda
Used 2+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of underwriting in the insurance industry?
To investigate and settle insurance claims.
To provide financial support to policyholders.
To assess and evaluate risks and determine appropriate premiums.
To market and sell insurance policies.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a common reinsurance arrangement?
Quota share
Surplus share
Excess of loss
Sidecar
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of claims management in the insurance process?
Claims management is the process of handling and resolving insurance claims.
Claims management is the process of ignoring insurance claims.
Claims management is the process of delaying insurance claims.
Claims management is the process of denying insurance claims.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What factors are considered in risk assessment for insurance policies?
Number of children, hobbies, and favorite color
Age, health, occupation, lifestyle, and claims history
Education level, marital status, and income
Gender, location, credit score, and driving record
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of motor cover in insurance?
To protect the motor from dust and dirt.
To provide financial protection against damage or loss to a vehicle.
To provide coverage for personal injuries.
To offer discounts on vehicle repairs.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the key responsibilities of an underwriter?
Providing customer service and support
Selling insurance policies to customers
Assessing and evaluating risks, analyzing financial data, determining insurance premiums, reviewing insurance applications, and making decisions on whether to approve or deny insurance coverage.
Processing insurance claims
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of reinsurance provides coverage for a specific policy or risk?
facultative reinsurance
retrocession
excess of loss reinsurance
treaty reinsurance
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