Insurance Fraud
Insurance fraud is a crime involving the submission of false or misleading information to an insurance company in order to obtain a benefit. This quiz will test your knowledge of insurance fraud, its types, and the consequences of committing it.
Questions
What is the most common type of insurance fraud?
- Auto insurance fraud
- Health insurance fraud
- Property insurance fraud
- Life insurance fraud
What is the term for intentionally causing damage to a property in order to collect insurance money?
- Arson
- Vandalism
- Theft
- Fraudulent misrepresentation
What is the penalty for insurance fraud?
- Fines
- Imprisonment
- Both fines and imprisonment
- None of the above
What is the term for submitting a claim for a loss that did not actually occur?
- False claim
- Fraudulent claim
- Misrepresentation
- All of the above
What is the term for exaggerating the extent of a loss in order to collect more insurance money?
- Padding
- Inflation
- Exaggeration
- All of the above
What is the term for submitting a claim for a loss that is covered by another insurance policy?
- Double dipping
- Overlapping coverage
- Duplicate coverage
- All of the above
What is the term for submitting a claim for a loss that occurred before the insurance policy went into effect?
- Retroactive coverage
- Backdating
- Pre-existing condition
- All of the above
What is the term for submitting a claim for a loss that is not covered by the insurance policy?
- Uncovered loss
- Excluded loss
- Non-covered loss
- All of the above
What is the term for submitting a claim for a loss that is less than the deductible?
- Deductible loss
- Minor loss
- Petty loss
- All of the above
What is the term for submitting a claim for a loss that is greater than the policy limits?
- Over-limit loss
- Excess loss
- Catastrophic loss
- All of the above
What is the term for submitting a claim for a loss that is caused by the insured's own negligence?
- Negligent loss
- Careless loss
- Reckless loss
- All of the above
What is the term for submitting a claim for a loss that is caused by an act of God?
- Act of God loss
- Force majeure loss
- Natural disaster loss
- All of the above
What is the term for submitting a claim for a loss that is caused by a war?
- War loss
- Hostilities loss
- Insurrection loss
- All of the above
What is the term for submitting a claim for a loss that is caused by a nuclear accident?
- Nuclear loss
- Radioactive loss
- Atomic loss
- All of the above
What is the term for submitting a claim for a loss that is caused by a terrorist attack?
- Terrorist loss
- Political violence loss
- Insurrection loss
- All of the above