Insurance Terms and Definitions

Insurance Terms and Definitions

Professional Development

20 Qs

quiz-placeholder

Similar activities

Mutual Funds

Mutual Funds

University - Professional Development

15 Qs

Finbuzz_Round_1

Finbuzz_Round_1

University - Professional Development

20 Qs

Ethics in Investment Principles

Ethics in Investment Principles

Professional Development

15 Qs

Refreshment MKBD

Refreshment MKBD

Professional Development

20 Qs

Battle of the Brains Summer Campaign Edition 2023

Battle of the Brains Summer Campaign Edition 2023

Professional Development

15 Qs

Mastering Credit 101

Mastering Credit 101

Professional Development

16 Qs

CH 17 - Federal Taxation of Home Ownership

CH 17 - Federal Taxation of Home Ownership

Professional Development

18 Qs

How well do you know your Auto Loan product?

How well do you know your Auto Loan product?

Professional Development

20 Qs

Insurance Terms and Definitions

Insurance Terms and Definitions

Assessment

Quiz

Business

Professional Development

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Comprehensive/Major Medical

Policies that provide fully insured indemnity, HMO, PPO, or Fee for Service coverage for hospital, medical, and surgical expenses.

Policies that only cover short-term medical needs.

Policies that are exclusively for federal employees.

Policies that do not cover surgical expenses.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit Accident and Health

Coverage for borrowers in case of disability due to an accident

Insurance for property damage during a credit transaction

A type of loan with lower interest rates

Coverage for medical expenses unrelated to credit transactions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit – Involuntary Unemployment

Makes loan/credit transaction payments to the creditor when the debtor becomes involuntarily unemployed.

Allows debtors to avoid payments during voluntary unemployment.

Increases the interest rate on loans during unemployment periods.

Provides financial assistance only to those who are voluntarily unemployed.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Covered Lives

The total number of lives insured, including dependents, under individual policies and group certificates.

The number of claims filed by policyholders in a year.

The total amount of premiums collected from policyholders.

The number of policies issued by an insurance company.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit - Credit Default

Coverage purchased by providers of goods and services extending credit, for indemnification of losses or damages resulting from the nonpayment of debts owed to them.

A type of insurance that protects consumers from identity theft and fraud.

A financial product that allows individuals to borrow money for personal use without collateral.

A service that helps businesses manage their credit scores and improve financial health.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Convertible Term Insurance Policy

An insurance policy that can be converted into permanent insurance without a medical assessment.

A type of insurance that only covers accidental death.

A policy that provides coverage for a fixed term with no option for conversion.

An insurance policy that requires a medical assessment for renewal.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit Insurance

Policies that provide benefits to a debtor for full or partial repayment of debt upon death.

Individual or group policies that provide benefits to a debtor for full or partial repayment of debt associated with a specific loan or other credit transaction upon disability or involuntary unemployment of debtor.

Insurance that covers the cost of credit card debt in case of theft or fraud.

Policies that offer discounts on loans for individuals with good credit scores.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?