Assessment 5 - Risk Management and Credit

Which of the following is NOT a factor affecting insurance premiums?

• Type of insurance coverage

• Type of insurance agent

• Likelihood of a claim being made

• Amount of competition the insurance company faces

Which of the following is the fixed amount of costs a policy holder is responsible for paying before insurance coverage starts picking up the bill?

• Premium

• Deductible

• Liability

• Beneficiary

Which of the following types of coverage methods combine per person and per occurrence approaches?

• Split limits

• Liability limits

• Collision limits

• Comprehensive limits

Which of the following types of health insurance covers expenses of daily care when an elderly person becomes unable to care for him or herself?

• Short-term disability insurance

• Long-term disability insurance

• Long-term care insurance

• Accident insurance

Which of the following types of life insurance only pays benefits if an individual dies during the period in which the policy is covered?

• Whole life insurance

• Term life insurance

• Universal life insurance

• Partial life insurance

Which of the following laws define “aggravated” identity theft?

• Identity Theft and Assumption Deterrence Act of 1998

• Identity Theft Penalty Enhancement Act of 2004

• Identity Theft Enforcement and Restitution Act of 2008

• Fair Credit Reporting Act of 2003

Which of the following laws explicitly made stealing personal information a crime?

• Identity Theft and Assumption Deterrence Act of 1998

• Identity Theft Penalty Enhancement Act of 2004

• Identity Theft Enforcement and Restitution Act of 2008

• Fair Credit Reporting Act of 2003

Which of the following is the first step of recovery from identity theft?

• Placing a fraud alert

• Getting credit reports

• Calling the companies where known fraud occurred

• Closing new accounts opened in your name

Which of the following types of service helps deal with the effects of identity theft after it happens?

• Credit monitoring

• Credit reporting

• Identity monitoring

• Identity recovering

An identity recovering service does NOT do which of the following?

• Helps write letters to debt collectors

• Guides you through documents which need to be reviewed

• Represents you in dealing with creditors on your behalf

• Calls the Federal Trade Commission on your behalf