1) Which of the following is not provided on the private insurance market?

a) bank deposit insurance

b) life insurance

c) health insurance

d) commercial lines insurance 2. Which of the following is not a type of property and liability insurance?

a) boiler and machinery insurance b) personal lines insurance c) health insurance d)commercial lines insurance 3. which of the following is not a type of property and liability insurance? a) bank deposit insurance b) commercial lines insurance c) business interruption coverage d) wedding insurance 4. which of the following statements is correct about the loading expenses for insurance companies? a) the loading expenses are measured using the expense ratio b) the loading expenses are governed by law c) the loading expenses reduce the insurance premiums charged by insurance companies d) the loading expenses compensate the insurance companies for the risk that they take 5.Legally insurance is a branch of: a)correct law b) tort law c) neither a nor b is correct d) both a and b are correct 6. participants in the private insurance market include all of the following except: a) insurance buyers b) insurance companies c) insurance regulators d) the FDIC 7. the efficient insurance market required all of the following conditions except: a) numerous sellers and buyers b) well-informed consumers c) numerous purchase substitutes ( homogeneity) d) a government subsidy for lower-income citizens 8. it may be correctly claimed that insurers usually do not pay for losses because: a) it is the insured's money that is used to pay the claims b) most insurers do not pay claims until the insured sues them c) almost all claims are caused by fraud d) insurers estimate claims actuarially in advance in order to avoid payments 9. which of the following is a true statement? a) insurers are significant financial intermediaries in the U.S. economy b) property insurers are prohibited from insuring commercial real estate c) the insurance companies in the U.S. are estimated to be very profitable d) Both A and C above are true statements 10. All of the following are perils except: a) heart attack b) theft c) forgery and embezzlement d) incorrect instructions on the label of a pesticide