Insurance Awareness Quiz Set 9

Dear readers welcome to the Insurance Awareness Quiz with Questions And Answers with a detailed Explanation. You can see the questions and all are advantageous for any competitive examinations. So keep on practicing these questions thoroughly.

Insurance Awareness Quiz Set 9

1. An insurance cover that is linked with credit activities and aims to protect the credit is called ______
 
 
 
 

2. A state tax on premiums paid by its residents and businesses and collected by insurers is called________
 
 
 
 

3. ________covers professionals for negligence and errors or omissions that injure their clients.
 
 
 
 

4. A method of permitting the final premium for a risk to be adjusted, subject to an agreed-upon maximum and minimum limit based on actual loss experience is called _________
 
 
 
 

5. A form of annuity that ends payments when the annuitant dies is termed as ______
 
 
 
 

6. A policy that is made mandatory for the customer to buy is called _______
 
 
 
 

7. The reinsurance bought by re-insurers to protect their financial stability is termed as ______
 
 
 
 

8. The amount of risk retained by an insurance company that is not reinsured is termed as ______
 
 
 
 

9. Which refers damaged property an insurer takes over to reduce its loss after paying a claim?
 
 
 
 

10. Insurance companies that band together as self-insurers and form an organization that is chartered and licensed as an insurer in at least one state to handle liability insurance is called_____
 
 
 
 

11. Risks that affect simultaneously a great number of policyholders is called ______
 
 
 
 

12. Peril specifically mentioned as covered in an insurance policy is called __________
 
 
 
 

13. A single Insurance company offers both life and non-life policies is known as _________
 
 
 
 

14. ________covers operators of nuclear reactors and other facilities for liability and property damage in the case of a nuclear accident and involves both private insurers and the
federal government.
 
 
 
 

15. Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as _____
 
 
 
 

16. Insurance Policy which is provided as an additional layer of security to those who are at risk for being sued for damages to other people’s property or injuries caused to others in
an accident is known as ______
 
 
 
 

17. A form of long-term care policy that covers a policyholder’s stay in a nursing facility is called _______
 
 
 
 

18. ________ is the total benefit an insured person will receive at the time of claim.
 
 
 
 

19. _______ is a life insurance policy that remains in force for the policyholder’s lifetime.
 
 
 
 

20. Auto insurance coverage that pays for each driver’s own injuries, regardless of who caused the accident is called __________
 
 
 
 


 

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