瑞达rejda保险教材英文练习题09.docx
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瑞达rejda保险教材英文练习题09.docx
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瑞达rejda保险教材英文练习题09
PrinciplesofRiskManagementandInsurance,11e(Rejda)
Chapter9FundamentalLegalPrinciples
1)Fundamentalpurposesoftheprincipleofindemnityincludewhichofthefollowing
I.Toreducephysicalhazards.
II.Topreventtheinsuredfromprofitingfrominsurance.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
PreviousEdition
2)Whichofthefollowingisafundamentalpurposeoftheprincipleofindemnity
A)toreducemoralhazard
B)tominimizephysicalhazards
C)tosettlepropertyinsurancelossesonareplacementcostbasis
D)torequiredeductiblesinallpropertyinsurancepolicies
Answer:
A
QuestionStatus:
PreviousEdition
3)Sam'sfurniturewasdestroyedbyafire.Thefurniturecost$1200whenitwaspurchased,butsimilarnewfurniturenowcosts$1800.Assumingthefurniturewas50percentdepreciated,whatistheactualcashvalueofSam'sloss
A)$600
B)$900
C)$1200
D)$1800
Answer:
B
QuestionStatus:
Revised
4)AllofthefollowingareexceptionstotheprincipleofindemnityEXCEPT
A)lifeinsurance.
B)valuedpolicies.
C)replacementcostpropertyinsurance.
D)actualcashvaluepropertyinsurance.
Answer:
D
QuestionStatus:
PreviousEdition
5)Underwhichofthefollowingrulesisactualcashvaluedeterminedbytakingintoconsiderationallrelevantfactorsanexpertwouldusetodeterminethevalueoftheproperty
A)thecircumstantialevidencerule
B)thebroadevidencerule
C)thepropertyindemnityrule
D)theobjectivevaluerule
Answer:
B
QuestionStatus:
PreviousEdition
6)Atotallossunderavaluedpolicyissettledonthebasisofthe
A)marketvalueoftheloss.
B)actualcashvalueoftheloss.
C)replacementvalueoftheloss.
D)amountofinsurancecoveringtheloss.
Answer:
D
QuestionStatus:
PreviousEdition
7)Whichofthefollowingstatementsdescribeshowlosseswillbesettledifapropertyinsurancepolicyiswrittenonareplacementcostbasis
A)Lossesaresettledwithouttheapplicabledeductible.
B)Lossesaresettledwithoutadeductionfordepreciation.
C)Theinsurermustreplacethedamagedordestroyedpropertyinlieuofacashsettlement.
D)Thepolicyisconvertedtoavaluedpolicy.
Answer:
B
QuestionStatus:
PreviousEdition
8)Whichofthefollowingstatementsabouttheprincipleofinsurableinterestis(are)true
I.Itmakesitdifficulttomeasuretheamountofaninsured'sloss.
II.Itreducesmoralhazard.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
PreviousEdition
9)AllofthefollowingwillsupportaninsurableinterestforpurposesofpurchasingpropertyandliabilityinsuranceEXCEPT
A)closefamilyrelationship.
B)potentiallegalliability.
C)securedcreditors.
D)acontractright.
Answer:
A
QuestionStatus:
PreviousEdition
10)Whichofthefollowingstatementsaboutaninsurableinterestinlifeinsuranceis(are)true
I.Itisrequiredofanypersonnamedasbeneficiary.
II.Itmayresultfromapecuniary(financial)interest.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
Revised
11)Whenmustaninsurableinterestlegallyexistinlifeinsurance
A)onlyatthetimeoftheinsured'sdeath
B)onlyattheinceptionofthepolicy
C)onlyatthetimethebeneficiaryispaid
D)bothatthetimeoftheinsured'sdeathandattheinceptionofthepolicy
Answer:
B
QuestionStatus:
PreviousEdition
12)Whenmustaninsurableinterestlegallyexistinpropertyinsuranceforaninsuredtoreceivepaymentforalossfromtheinsurer
A)onlyatthetimeoftheloss
B)onlyattheinceptionofthepolicy
C)onlyatthetimethelosssettlementprocesstakesplace
D)bothatthetimeofthelossandattheinceptionofthepolicy
Answer:
A
QuestionStatus:
Revised
13)Sue'sofficebuildingwasdamagedbyafirecausedbyacarelesstenant.AfterpayingSueforherloss,theinsurancecompanysuedthetenanttorecoveritsloss.Thissuitisbasedontheprincipleof
A)warranty.
B)insurableinterest.
C)utmostgoodfaith.
D)subrogation.
Answer:
D
QuestionStatus:
PreviousEdition
14)AllofthefollowingarebasicpurposesofsubrogationEXCEPT
A)toeliminateadverseselection.
B)toholddownthecostofinsurance.
C)topreventaninsuredfromcollectingtwiceforthesameloss.
D)toholdthenegligentpersonresponsibleforaloss.
Answer:
A
QuestionStatus:
PreviousEdition
15)Whichofthefollowingstatementsaboutsubrogationistrue
A)Itisusedprimarilyforlossespaidunderlifeinsurancepolicies.
B)Itallowstheinsurertosueitsowninsuredwhoisnegligent.
C)Theinsured'srighttocollectbenefitsmaybeforfeitediftheinsuredinterfereswiththeinsurer'srightsafteralossoccurs.
D)Theinsurerisrequiredtoexerciseitssubrogationrights.
Answer:
C
QuestionStatus:
PreviousEdition
16)TheprincipleofutmostgoodfaithissupportedbyallofthefollowinglegaldoctrinesEXCEPT
A)representations.
B)warranty.
C)subrogation.
D)concealment.
Answer:
C
QuestionStatus:
PreviousEdition
17)Whatisthelegalsignificanceofamaterialconcealmentbyaninsuranceapplicant
A)Thecontractisautomaticallyvoidedfromitsinception.
B)Thecontractisvoidableattheinsurer'soption.
C)Losspaymentsarereducedbythedegreeoftheconcealment.
D)Theinsurerisimmediatelyentitledtoahigherpremium.
Answer:
B
QuestionStatus:
PreviousEdition
18)Whatisthelegalsignificanceofamaterialmisrepresentationinaninsuranceapplication
A)Thecontractisautomaticallyvoidedfromitsinception.
B)Thecontractisvoidableattheinsurer'soption.
C)Losspaymentsarereducedbythedegreeofthemisrepresentation.
D)Theinsurerisimmediatelyentitledtoahigherpremium.
Answer:
B
QuestionStatus:
PreviousEdition
19)Afalsestatementmadebyanapplicantforinsuranceisanexampleofa
A)concealment.
B)breachofwarranty.
C)lackofofferandacceptance.
D)misrepresentation.
Answer:
D
QuestionStatus:
PreviousEdition
20)Whichofthefollowingstatementsaboutawarrantyinaninsurancecontractis(are)true
I.Itispartoftheinsurancecontract.
II.Statementsmadebyaninsuranceapplicantareconsideredwarrantiesratherthanrepresentations.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
A
QuestionStatus:
PreviousEdition
21)Davidownsaliquorstoreinahigh-crimearea.Inordertoobtainareducedinsurancepremium,Davidpromisedtohaveaburglaralarmoperatingatthestorewhenthestorewasclosed.Thisagreement,whichwasincorporatedintotheinsurancecontract,isanexampleofa
A)representation.
B)unilateralcontract.
C)contractofadhesion.
D)warranty.
Answer:
D
QuestionStatus:
PreviousEdition
22)Whichofthefollowingstatementsaboutofferandacceptanceforinsurancecontractsistrue
A)Inpropertyandliabilityinsurance,agentstypicallydonothavetheauthoritytobindcoverage.
B)Inlifeinsurance,theagentcanusuallyacceptanofferbyimmediatelybindingcoverage.
C)Inpropertyinsurance,theofferandacceptanceareusuallyinwritingbutmaybeoral.
D)Inlifeinsurance,theofferismerelythepromisetopaythefirstpremium.
Answer:
C
QuestionStatus:
PreviousEdition
23)ChrisappliedforlifeinsuranceandpaidthefirstpremiumonMonday.Shewasgivenaninsurabilitypremiumreceiptwhichspecifiedthatcoveragewaseffectiveonthedateoftheapplicationorthedateofthemedicalexam,whicheverislater.ShetookthemedicalexamthefollowingThursday.Shewasfoundtobeinperfecthealth.Onwhichdaywashercoverageeffective
A)onMonday,whenshecompletedtheapplicationandpaidthefirstpremium
B)onWednesday,twodaysaftercompletingtheapplicationandpayingthefirstpremium
C)onThursdaywhenshepassedthemedicalexam
D)onSaturday,twodaysafterpassingthemedicalexam
Answer:
C
QuestionStatus:
PreviousEdition
24)Whichofthefollowingstatementsaboutconsiderationinaninsurancecontractis(are)true
I.Theinsured'stotalconsiderationissubmissionofacompletedapplication.
II.Theinsurer'sconsiderationisthepromisetodothosethingsspecifiedinthepolicy.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
PreviousEdition
25)Acontractinwhichthevaluesexchangedarenotequalbecausechanceisinvolvediscalleda(n)
A)contractofadhesion.
B)unilateralcontract.
C)conditionalcontract.
D)aleatorycontract.
Answer:
D
QuestionStatus:
PreviousEdition
26)Whyareinsurancecontractssaidtobecontractsofadhesion
A)Thevaluesexchangedbythepartiestothecontractarenotequal.
B)Onepartywritesthecontract,andtheotherpartymustaccepttheentirecontractaswritten.
C)Onlyonepartymakesalegallyenforceablepromise.
D)Conditionsareplacedontheinsurer'spromisetoperform.
Answer:
B
QuestionStatus:
Revised
27)Whydoestheinsuredgetthebenefitofthedoubtifaninsurancepolicycontainsanyambiguitiesoruncertainties
A)becauseinsurancecontractsarealeatory
B)becauseinsurancecontractsareunilateral
C)becauseinsurancecontractsareconditional
D)becauseinsurancecontractsarecontractsofadhesion
Answer:
D
QuestionStatus:
PreviousEdition
28)Whycananinsurerrefusetopayaclaimifaninsuredfailstoabidebythepolicyprovisions
A)becauseinsurancecontractsarealeatory
B)becauseinsurancecontractsareunilateral
C)becauseinsurancecontractsareconditional
D)becauseinsurancecontractsarecontractsofadhesion
Answer:
C
QuestionStatus:
PreviousEdition
29)Whichofthefollowingtypesofinsurancepoliciescanusuallybeassignedwit
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