1. Which of the following is not one of the four elements of a typical insurance plan: a. Adverse selection b. Pooling of losses c. Risk Transfer d. Indemnification 2. If you are shipping goods from Galveston to Venezuela, the type of insurance you need to protect your interests would be_Ocean Marine 3. T / F: The law of large numbers allows insurers to estimate future losses with some degree of accuracy. 4. Your car was broken into and your laptop was stolen out of the backseat. Which type of insurance policy would normally cover the loss of your computer? 5. Losses due to which of the following would not normally be covered under a standard homeowner's insurance policy? (Hint: There may be more than one correct answer.) a. Flood b. Fire c. Tornado d. Earthquake e. Theft / Vandalism 6. insurance covers the insured for legal claims that arising out of property damage or bodily injury to other people that are caused by the insured or the insured's representatives. 7. Annuities and/or retirement plans are most likely to be offered by insurers who also provide which type of insurance? a. Health b. Life C. Property & Casualty d. Liability