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WorksheetsInsurance - Advance Level
Total questions: 10
Worksheet time: 10mins
The benefits given to the victims who have work-related accidents are called
Third party liability
Life Insuarnce
Workers compensation
General Liability
Insurable interest is applicable to
spouses
relatives
Friends
Maternal uncle
Jonathan and Samuel were involved in a car accident. As a result, Jonathan’s car was severely damaged, and he required $3,000 for the repair of the vehicle. Luckily, Jonathan’s car was insured, and he recovered the full cost of the repair ($3,000) through an insurance claim.
Eventually, an investigation determined that Samuel was responsible for the accident as he exceeded the speed limit. Jonathan’s insurance company decides to recover the amount of the claim from Samuel, as he caused the damages.
In such a case, Jonathan’s insurance company sues Samuel to recover its losses while representing the interests of Jonathan’s in the court. This is referred to as (a)
______________that provide the right to the insurance company to start the process of recovering the payment of the insurance claim from the party that caused the damages to the insured party.
Indemnity
Subrogation
Causa Proxima
Salvage
.....................................protects the consumers against the circulation of inaccurate or incomplete personal or financial information.
OFAC
NAIC
FCRA
State Boards
The __________ administers and enforces economic sanctions programs primarily against countries and groups of individuals, such as terrorists and narcotics traffickers and requires all American citizens and businesses to confirm that all persons they do business with are not named on government lists of sanctioned individuals.
Social Security Number (SSN)
Office of Foreign Assets Control (OFAC)
FCRA (Fair Credit Reporting Act)
CIBIL
National Association of Insurance Commissioners (NAIC)
(a) is a is a nonprofit organization that helps develop model laws for state insurance regulators and provides expertise and analysis to states and state insurance commissioners to effectively regulate the industry and protect consumers.
_______ is a document issued as an evidence that insurance has been granted, pending the issue of policy
Policy
Certificate of Insurance
Cover Note
Proposal
_________ are professionals who assess the loss or damage and their job is to assess the actual loss and avoid any fraudulent claim
Claim Personnel
Loss Adjusters
Claim Surveyors
Compliance Officers
Monopolistic State Fund allows you to choose workers’ compensation coverage from your state or other private carriers.
True
False
