Insurance Terminology Quiz

The act of undertaking to indemnify oneself against loss or liability for loss

The act of paying a sum of money or other thing of value upon the happening of a certain event

The act of indemnifying one person against loss or liability for loss in respect of a certain risk or peril (correct)

The act of exposing the object of insurance to a certain risk or peril

To regulate the insurance industry and protect consumers (correct)

To establish the rights and responsibilities of insurance companies

To provide guidelines for filing insurance claims

To define the terms and conditions of insurance policies

To expose the object of insurance to a certain risk or peril

To indemnify the insured against loss or liability for loss (correct)

To pay a sum of money or other thing of value upon the happening of a certain event

To undertake to indemnify oneself against loss or liability for loss