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The chance of loss from some type of danger, Written contract detailing what an insurance company will cover, how much it will pay, how much you will pay, The maximum amount the insurance company will pay if you file a claim, The rights and responsibilities of the insured and the insurance company, A request for payment to recover financial loss from damages, Two most important types of insurance you need at a young age. 3. This quiz is incomplete! What is consideration? Wh…, exchanging an existing policy for a new policy, The transaction is considered replacement, it has the highest amount of insurance protection, a reinstated policy provides immediate coverage for an illness, If the Primary beneficiary dies BEFORE insured, Normally, a guardian is required to be appointed in the Benefi…, The early years are charged more than what is needed, temporary protection that lasts only for a specified period of…, premiums remain the same thoughout the life of the policy, level premium, as do all policies, but the face amount increas…, A. Offer good through Dec. 18. 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After taking the insurance quiz from the National Association of Insurance Commissioners, find out the answers below. A report from the police who responded to the accident, your insurance policy, a note from any witnesses or other person involved in accident, the address of the location where accident occured, When you apply for automobile insurance on your own, you will need to provide the insurance company with, Your social security number, details of insurance coverage requesting, your history of driving violations, the vehicle identification number (VIN) of the car you want to insure. eZine Articles.com. Test. The agency also identifies, monitors, and addresses risks to the insured deposits. The time period in which premiums will be paid, C. The policy is surrendered for less than what was paid into…, 12:01 am the day after the application and premium payment are…, Accident insurance, because it pays medical expenses regardles…. 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Learn vocabulary, terms, and more with flashcards, games, and other study tools. Read the passage about a family health insurance â¦ Here are some terms and issues that patients and providers become familiar with as they negotiate the system. What should you look for when choosing an auto insurance plan? by busmath. Edit. Missed a question here and there? Learn vocabulary, terms, and more with flashcards, games, and other study tools. Upon the death of the insured, the contract is des…, Policyowners are entitled to receive dividends, Broad term used to describe policies that cover loss of income…, 1. Cost of repairs, how much you drive in a year, driving record. By MisterE76. Learn insurance with free interactive flashcards. What coverage reimburses a car's owner if the car is stolen? Match. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Q. Start studying Insurance Quiz. 3 years ago. Test your understanding of Insurance concepts with Study.com's quick multiple choice quizzes. Save. A relationship must exist between the applicant and the insured. Get Started. The policy matures and the cash value is paid to the insured. Use this quiz/worksheet combo to test your understanding of insurance. This quiz and corresponding worksheet will gauge your knowledge of the basics of health insurance and health care. Start studying Insurance quiz. To ensure the best experience, please update your browser. This quiz and worksheet combo will help you quickly assess your understanding of the different types of insurance plans people can obtain. What is the difference between speculative risk (SR) and pure risk(PR)? Average superferd Apr 01 03 705 plays 4. Insurance DRAFT. (Two), Disability insurance and medical insurance. Insurance is something we often don't think about until we need it. All questions will be multiple choice. Average score for this quiz is 6 / 10. 2. Here is a small quiz about your policy and what to do in case an accident occurs. The term that best describes this scenario is A) retention. To play this quiz, please finish editing it. What is express authority? It is also useful to know that almost anything can be insured. -Disability insurance is not necessary if you have a good health insurance policy. busmath. What is a stock company? Edit. Insurance is a type of risk management mainly used to deter against the risk of a contingent or uncertain loss. What will effect the cost of automobile insurance? A car insurance policy can consist of multiple parts, each paying for a different type of problem. GJEL » Personal Injury Resources » Auto Insurance Quiz Answers. It looks like your browser needs an update. 880 times. Test taking strategies proven to prepare licensees for the insurance license exam. Tends to follow the person. stephen_lee178. (hint: choose 3 correct answers) One should have the knowledge of risk and how to mitigate or cover the risk is very important for well-being and lack of these knowledge can invite financial troubles in your personal life. I'll give you some basic insurance related terms and concepts as they relate to insurance in the United States. How much do you have to pay if you go to the doctor and the visit is $150? Difficulty: Average. Get Answers to the Insurance Quiz. 65% average accuracy. About This Quiz & Worksheet. Start studying Life insurance - practice test questions. Every vehicle needs to be on each of its driversâ policies. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Which of the following covers a carrier for liability for loss…, Which of the following risks is eligible for coverage under a…, Which of the following would be considered causes for flood co…, A producer didn't realize that he had committed an act in viol…, Upon the insured's death during the term of policy, policy owner controls where the investment will go and selects…, 20-pay life accumlate faster than striaght life, Notice Regarding Replacement of Life Insurance or Annuity". This is a quiz for your Insurance mastery. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. To spread this risk, Shield Insurance Ltd. contacted Adequate Insurance Company to request that it cover a portion of the risk. She borrows $75,000 from First City Bank that, along with her $25,000 down payment, equals the $100,000 purchase price of the home. AARP members can take the Staying Sharp brain health assessment for free! Not meeting long-term financial goals, not having a vehicle for transportation, poor credit rating, not being able to stick with your budget, Which general types of insurance is often provided by employers? Gravity. "An agreement between two or more parties enforceable by law" is defined as what? The chief officer of the Dep. The United States is one of the few countries where health insurance is provided by private companies rather than through a national policy.
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