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Insurance Principles and Rehabilitation Coverage

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Insurance Principles and Rehabilitation Coverage

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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 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:

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

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

It describes property covered and perils insured Signup and view all the answers

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

burning debris near the building on a calm sunny day Signup and view all the answers

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

risk Signup and view all the answers

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

the insurer participation in the assigned risk programs is mandatory Signup and view all the answers

Purchasing boatowners insurance is an example of which?

transfer 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?

unfair discrimination Signup and view all the answers