Was That Fraud? Quiz

What is fraud?

• The act of stealing physical items from a company.

• The intent to deceive a company or person for the purpose of financial gain.

• A type of insurance policy.

• A legal way to obtain financial benefits.

What is insurance fraud?

• A method to increase your insurance coverage.

• Applying for insurance.

• A legal dispute between an insurance company and a policyholder.

• A manner in which a person or company deceives an insurance company to receive money.

Why is preventing insurance fraud important?

• It is not important; fraud has minimal impact.

• It reduces paperwork for insurance companies.

• It ensures faster service for policyholders.

• It costs Arizona consumers millions of dollars each year.

Which of the following is a common way to commit fraud?

• Providing accurate information on insurance applications.

• Using insurance for medically necessary procedures.

• Paying insurance premiums on time.

• Reporting items as stolen when they are not.

What are the consequences of knowingly filing a false claim?

• Cancellation of your policy, monetary penalties, or jail time.

• There are no consequences.

• Receiving a reward from the insurance company.

• Increased insurance coverage.

How can consumers prevent fraud?

• By accepting hard sale tactics without research.

• By understanding the terms and conditions of any policy before signing.

• By avoiding to verify the legitimacy of the company or agent.

• By signing contracts without reading them.

What does the Federal Bureau of Investigations estimate insurance fraud costs the average U.S. family per year?

• $200 to $300

• $800 to $1000

• $50 to $100

• $400 to $700

What should you do before accepting services that ask for your insurance policy information?

• Ignore the terms of service.

• Agree to any conditions without reviewing them.

• Understand what they intend to do with this information and how they are expecting to receive payment.

• Provide all personal information requested without question.

To whom should you report if you suspect a fraud being committed against an insurance company?

• Your local supermarket.

• A friend or family member.

• Social media platforms.

• The DIFI Fraud Investigations Division.

What is NOT a victimless crime according to the text?

• Paying insurance premiums

• Insurance fraud

• Filing accurate insurance claims

• Receiving insurance payouts for legitimate claims