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Insurance Principles and Rehabilitation Coverage
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Insurance Principles and Rehabilitation Coverage

Created by
@EffectiveCouplet5654

Questions and Answers

When an individual with pre-existing condition is in a automobile accident and the insurance covers rehabilitaion only to the level of the condition prior to the accident this is because which of the following principles?

  • indemnity (correct)
  • adhesion
  • reasonable expectations
  • good faith

    • Which of the following is one of the ways the Gram-Leach Baily Act affects the insurance industries?

  • It provides for the functional deregulation of insurance activities in each state
  • It provides for the functional deregulation of insurance activities in each state
  • It establishes which insurance products bank to bank subsides may provide a principal (correct)
  • It directs the Federal banking agencies to cancel consumer protections governing bank insurance sales

    • What policy provision specifies a certain value that will meet the coinsurance requirement?

  • agreed value (correct)
  • minimal value
  • projected value
  • real value

    • All of the following are TRUE regarding identity theft EXCEPT:

    <p>identity theft protection is a standard feature of most insurance policies</p> Signup and view all the answers

    Which of the following describes why the insuring agreement is the heart of insurance policy?

    <p>It describes property covered and perils insured</p> Signup and view all the answers

    Which of the following hazards is an example of a physical hazard?

    <p>burning debris near the building on a calm sunny day</p> Signup and view all the answers

    Which of the following defines the chance of uncertainty of loss?

    <p>risk</p> Signup and view all the answers

    Which of the following are TRUE regarding assigned risk plans EXCEPT:

    <p>the insurer participation in the assigned risk programs is mandatory</p> Signup and view all the answers

    Purchasing boatowners insurance is an example of which?

    <p>transfer</p> Signup and view all the answers

    Which of the following standards is an agent violating by providing insurance to an insured at a lower identical circumstance?

    <p>unfair discrimination</p> Signup and view all the answers

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