Tag: general knowledge

Quizzes (3615) Questions (119858)

Questions Related to general knowledge

Multiple choice general knowledge

Demutualization refer to a process by which:

Stock insurance company becomes a Mutual Insurance Company
Mutual Insurance company stops investing in mutual funds for investment income
Mutual insurance company becomes a stock insurance company
Allows Mutual insurance company to charge its insured an additional premium after the policy has gone into effect

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Multiple choice general knowledge

Some federal government insurance programs provide coverage for loss exposures that private insurers have avoided largely because of the potential for catastrophic losses. An example of such a program is

Workers compensation insurance funds
Unemployment insurance programs
Automobile insurance plans
The National Flood Insurance Program

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Multiple choice general knowledge

A document drafted by the NAIC reflecting the proposed solution to a given problem and provides a common basis to the states for drafting law that affects insurance industry is known as:

Model law
State statute
Common law
Insurance guideline

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Multiple choice general knowledge

Person analyzing data on past losses and the expenses associated with the losses and, combining this with other information to develop insurance rates is known as:

Adjuster
Actuary
Aggregator
Underwriter

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Multiple choice general knowledge

Peter is a salaried producer who is an employee of ABC Insurance Company. In what distribution system does he operate?

Exclusive agency
Independent agency
Direct writing
Direct response

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Multiple choice general knowledge

Business personal property is known as what?

Estate
Fund
Contents
Stock

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Multiple choice general knowledge

When the principal intends to grant an authority to an agent by means of a contract is known as:

Delegate
Express authority
Principal authority
Co-Agent

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Multiple choice general knowledge

What is it called when multiple insurance companies share risk by purchasing insurance?

Stock insurance
Reinsurance
Indemnity
Contract

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Multiple choice general knowledge

When you met with an accident when you travel in an aeroplane what insurance comes into picture?

Aviation
Aircraft
Automobile
Travel

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Multiple choice general knowledge

insurance services are normally NOT provided for which of the following?

Health
Life
Jobs
House & Property

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