瑞达rejda保险教材英文练习题10.docx
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瑞达rejda保险教材英文练习题10
PrinciplesofRiskManagementandInsurance,11e(Rejda)
Chapter10AnalysisofInsuranceContracts
1)Theportionofapropertyandliabilityinsurancecontractthatcontainsinformationaboutthepropertyoractivitytobeinsurediscalledthe
A)declarations.
B)insuringagreement.
C)exclusions.
D)conditions.
Answer:
A
QuestionStatus:
PreviousEdition
2)Whatinformationiscontainedintheinsuringagreementofaninsurancepolicy
A)adescriptionofthepropertyorlifetobeinsured
B)asummaryofthemajorpromisesoftheinsurer
C)asummaryoftheobligationsoftheinsured
D)alistoftheproperty,losses,andperilsthatarenotcovered
Answer:
B
QuestionStatus:
PreviousEdition
3)Whichofthefollowingstatementsabout"all-risks"coverageis(are)true
I.Alllossesarecoveredexceptthoselossesspecificallyexcluded.
II.Theburdenofproofisontheinsuredtoprovethatalossiscovered.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
A
QuestionStatus:
PreviousEdition
4)Theexclusionoffloodinahomeownerspolicyisanexampleofan
A)excludedactivity.
B)excludedcondition.
C)excludedproperty.
D)excludedperil.
Answer:
D
QuestionStatus:
PreviousEdition
5)ExclusionsareusedininsurancepoliciesforallofthefollowingreasonsEXCEPT
A)toreducemoralhazard.
B)towaivepolicyconditions.
C)toeliminatecoverageforuninsurableperils.
D)toeliminatecoveragenotneededbytypicalinsureds.
Answer:
B
QuestionStatus:
PreviousEdition
6)Reasonswhyaperilmaybeconsidereduninsurableandthereforeexcludedfrominsurancecontractsincludewhichofthefollowing
I.Thelossesfromtheoccurrenceoftheperilmaybeduetoapredictabledeclineinvalue.
II.Thelossesfromtheoccurrenceoftheperilmaybeincalculableandcatastrophic.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
C
QuestionStatus:
PreviousEdition
7)Thepolicyprovisionrequiringthefilingofproofoflosswiththeinsurerisanexampleofa(n)
A)declaration.
B)condition.
C)insuringagreement.
D)miscellaneousprovision.
Answer:
B
QuestionStatus:
PreviousEdition
8)Whichofthefollowingstatementsaboutthedefinitionoftheinsuredis(are)true
I.Insomecases,apersonwhoisnotspecificallynamedmaybeclassifiedasaninsured.
II.Undernocircumstancescanmorethanonepersonbenamedasaninsured.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
A
QuestionStatus:
PreviousEdition
9)AllofthefollowingstatementsaboutendorsementsandridersaretrueEXCEPT
A)Theyareusuallywritten.
B)Theycanbeusedtoaddordeletepolicyprovisions.
C)Theynormallytakeprecedenceoverotherconflictingpolicyprovisions.
D)Theyareprimarilyusedtocircumventlegislationrequiringspecificpolicyprovisions.
Answer:
D
QuestionStatus:
PreviousEdition
10)DeductiblesareusedinallofthefollowingtypesofinsuranceEXCEPT
A)lifeinsurance.
B)healthinsurance.
C)propertyinsurance.
D)automobileinsurance.
Answer:
A
QuestionStatus:
PreviousEdition
11)AllofthefollowingarepurposesofdeductiblesEXCEPT
A)toeliminatesmallclaims.
B)toreducepremiums.
C)toreduceattitudinalhazard.
D)toexcludeuninsurableperils.
Answer:
D
QuestionStatus:
Revised
12)Thedeductibleusedforautomobilecollisionlossesisanexampleofa(n)
A)corridordeductible.
B)eliminationperiod.
C)straightdeductible.
D)aggregatedeductible.
Answer:
C
QuestionStatus:
PreviousEdition
13)Whichofthefollowingstatementsaboutacalendar-yeardeductibleis(are)true
I.Itrequirestheinsuredtopayaspecifiedamountofeachclaimregardlessofwhentheclaimoccursduringtheyearandregardlessofanypreviousclaimsduringtheyear.
II.Itisusedonlyinpolicieswhichcoverdirectpropertylosses.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
D
QuestionStatus:
PreviousEdition
14)Aprovisioninadisabilityincomeinsurancepolicythatrequiresapersontobedisabledfor60daysbeforereceivingbenefitsisanexampleofa(n)
A)corridordeductible.
B)graceperiod.
C)eliminationperiod.
D)probationaryperiod.
Answer:
C
QuestionStatus:
Revised
15)Atwhatpointintimemustaninsuredmeetthecoinsurancerequirementinapropertyinsurancepolicyinordertoavoidhavingtopayaportionoftheloss
A)onlyatthetimeofloss
B)onlyatthetimewhenthepolicyisissued
C)onlyatthetimeofpolicyapplication
D)bothatthetimewhenthepolicyisissuedandatthetimeofloss
Answer:
A
QuestionStatus:
Revised
16)Davidownsacommercialbuildingwithareplacementcostof$4million.Thebuildingisinsuredonareplacementcostbasisfor$3millionunderafireinsurancepolicythathasan80percentcoinsuranceclause.HowmuchwillDavidcollectifthebuildingsustainsacoveredfirelosswithareplacementcostof$320,000
A)$266,667
B)$275,000
C)$300,000
D)$320,000
Answer:
C
QuestionStatus:
PreviousEdition
17)Theprimarypurposeofcoinsuranceinpropertyinsuranceisto
A)reducemoralhazard.
B)achieveequityinrating.
C)minimizeproblemsinsettlingclaims.
D)eliminatesmalllosses.
Answer:
B
QuestionStatus:
PreviousEdition
18)Whichofthefollowingstatementsaboutproblemsarisingfromtheuseofacoinsuranceclauseis(are)true
I.Theamountofinsuranceshouldbeperiodicallyevaluatedtoavoidacoinsurancepenaltybecauseofinflation.
II.Anagreedvaluecoverageoptionisonemethodusedtosolvetheproblemofvaluesthatfluctuatethroughoutthepolicyterm.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
C
QuestionStatus:
PreviousEdition
19)Conniehasamajormedicalpolicywitha$200deductibleanda75-25coinsuranceclause.Ifshehaseligiblemedicalexpensesof$10,000,howmuchwillbepaidbyherinsurer
A)$7,300
B)$7,350
C)$7,500
D)$9,800
Answer:
B
QuestionStatus:
PreviousEdition
20)Purposesofthecoinsuranceclauseinhealthinsurancecontractsincludewhichofthefollowing
I.Toreducepremiums.
II.Toexcludecoverageforcertainmedicalprocedures.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
A
QuestionStatus:
PreviousEdition
21)Thepurposeofother-insuranceprovisionsisto
A)eliminatetheneedfordeductibles.
B)penalizethoseinsuredswhocarryinadequateamountsofinsurance.
C)specifywhowillpaylossesiftheinsurerisbankrupt.
D)preservetheprincipleofindemnity.
Answer:
D
QuestionStatus:
PreviousEdition
22)Lisahasthreefireinsurancepoliciesonherofficebuilding.ThepolicyfromcompanyAisfor$400,000,andthepoliciesfromcompaniesBandCarefor$100,000each.IfLisahasa$360,000loss,howmuchofthelosswillbecoveredbyeachpolicyifthelossissettledonaproratabasisbytheinsurers
A)eachpolicy:
$120,000
B)policyA:
$160,000;policiesBandC:
$100,000each
C)policyA:
$240,000;policiesBandC:
$60,000each
D)policyA:
$360,000;policiesBandC:
nothing
Answer:
C
QuestionStatus:
PreviousEdition
23)Kevinhasthreeliabilitypolicieswhichprovideforcontributionbyequalsharesifotherinsuranceappliestoaloss.Howmuchwilleachpolicypayfora$3,000,000liabilityjudgmentifpolicyAprovides$500,000ofcoverage,policyBprovides$1,000,000ofcoverage,andpolicyCprovides$3,000,000ofcoverage
A)Eachpolicywillpay$500,000,andKevinmustpaytheremaining$1,500,000.
B)PolicyAwillpay$500,000,policiesBandCwilleachpay$1,000,000,andKevinmustpaytheremaining$500,000.
C)PolicyAwillpaynothing,policyBwillpay$1,000,000,andpolicyCwillpay$2,000,000.
D)PolicyAwillpay$500,000,policyBwillpay$1,000,000,andpolicyCwillpay$1,500,000.
Answer:
D
QuestionStatus:
PreviousEdition
24)HelenandJohnbothownautomobilesonwhichtheycarryliabilityinsurance.IfHelenisnegligentandhasanaccidentwhiledrivingJohn'scar,howwilleachinsurerrespondtoanyliabilityjudgmentagainstHelen
A)Theinsurerswillpaythejudgmentonaproratabasis.
B)John'sinsurerwillpayonanexcessbasisifHelen'sinsuranceisinsufficienttocoverthejudgment.
C)Helen'sinsurancewillpayonanexcessbasisifJohn'sinsuranceisinsufficienttocoverthejudgment.
D)Thepolicieswillpaythejudgmentonthebasisofcontributionbyequalshares.
Answer:
C
QuestionStatus:
PreviousEdition
25)Kateiscoveredunderheremployer'sgrouphealthplan.Sheisalsocoveredasadependentunderherhusband'sgrouphealthplan.Undertheusualcoordination-of-benefitsprovision,howwilleachcompanyrespondtoaclaimfiledbyKate
A)Kate'splanisprimary,andherhusband'splanisexcess.
B)Herhusband'splanisprimary,andKate'splanisexcess.
C)Theplanofthepersonwiththebirthdayearliestintheyearpaysfirst,andtheotherplanisexcess.
D)Eachplanwillpay50percentoftheclaim.
Answer:
A
QuestionStatus:
PreviousEdition
26)Eric'spropertywasdamagedinanaccident.Hephonedhisagenttoseeifthelosswascoveredunderhispropertyinsurancepolicy.Theagentsaid,"Aslongasthecauseoflossisnotspecificallyexcludedinthepolicy,thelossiscovered."Basedontheagent'sanswer,whattypeofinsuringagreementappearsinthepolicy
A)unconditionalcoverage
B)named-perilscoverage
C)extended-perilscoverage
D)"all-risks"coverage
Answer:
D
QuestionStatus:
PreviousEdition
27)Janethitawallcausingalargedentinthefenderofhercar.Shewasbusyatworkanddelayedreportingthedamagetoherinsurerfor9months.Theinsurerdeniedtheclaim,stating,"Althoughsuchalossisusuallycovered,youarerequiredunde
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