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Insurance and Ethics Quiz

Authored by Sherica Simmonds

Business

12th Grade

Used 1+ times

Insurance and Ethics Quiz
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47 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paulo is a terrible driver and has had many traffic tickets and accidents. What type of insurance will his insurance company have to get for Paulo?

reinsurance

excess insurance

standard insurance

exclusion insurance

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A health food company claims that its products will cure many diseases, but without proof of this claim. When customers realized that the claim was unfounded, the company suffered from a damaged reputation and many lawsuits. The company's behavior is considered to be:

favorable

moral

normal

unethical

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A provision in an insurance policy that eliminates coverage for some types of risks is called a/an:

adjustment

excess

exclusion

standard

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which scenario would be an example of a business acting ethically in regards to insurance?

obtaining the insurance required by law

telling the whole truth to insurance agents

keeping insurance information concealed from staff

maintaining the same insurance policies for as long as possible

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A primary characteristic of a whole life insurance policy is that it:

requires policyholders to pay low premiums annually.

covers the insured for a time period of 25 years.

covers only the insured's burial expenses.

accumulates cash value over time.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

C’eri sent out an email to customers several days after her supervisor told her to send it. When her supervisor asked her about it, she said that she was unable to send it when he asked because the network WiFi was down. C’eri is putting her company at risk due to her:

unsafety.

dishonesty.

lack of security.

conflicts of interest.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can risk managers do to ensure the successful launch of a new product?

act quickly to beat the competition

evaluate potential gains and losses of the event

develop fail-proof strategies for the calendar year

ignore issues the company has encountered in the past

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