
Insurance Ecosystem Quiz

Quiz
•
Other
•
Professional Development
•
Hard
PAAN Nigeria
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary function of an insurance ecosystem?
Risk elimination
Risk transfer
Profit generation
Wealth creation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who are the main stakeholders in the insurance ecosystem?
Insurers, reinsurers, brokers, policyholders, regulators
Doctors, teachers, engineers, policyholders
Policyholders only
Investors and stockholders only
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a type of insurance contract?
Property
Liability
Reinsurance
Subscription
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do actuaries play in the insurance ecosystem?
Marketing policies
Selling policies
Assessing and managing risk
Handling complaints
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of risk management?
Increased tax rates
Reduced innovation
Enhanced financial stability
Fewer insurance stakeholders
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of reinsurance?
To sell more insurance
To eliminate underwriting
To share risk with another insurer
To increase premiums
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an example of a regulatory requirement?
Ad designing
Solvency and capital adequacy
Premium collection
Claims settlement
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