I need help with these questions:

1.Purposes of the coinsurance clause in health insurance contracts include which of the following?

I. To reduce premiums.

II. To exclude coverage for certain medical procedures. (Points : 1)

I only

II only

both I and II

neither I nor II

Question 2.

2.All of the following statements about subrogation are true EXCEPT (Points : 1)

the insurer is only entitled to recover the amount it has paid its insured under the policy.

interfering with the insurer's subrogation rights can jeopardize indemnification of the insured.

the insurer reserves the right to subrogate against its own insureds.

subrogation does not apply in life insurance.

Question 3.

3.A grid charting the potential frequency and severity of losses is called a (Points : 1)

risk management web site.

risk management Intranet.

risk map.

risk management information system.

Question 4.

4.The deductible used for automobile collision losses is an example of a(n) (Points : 1)

elimination period.

corridor deductible.

straight deductible.

aggregate deductible.

Question 5.

5.Janet hit a wall causing a large dent in the fender of her car. She was busy at work and delayed reporting the damage to her insurer for 9 months. The insurer denied the claim, stating, "Although such a loss is usually covered, you are required under the terms of the contract to provide prompt notification in case of loss." The prompt notification requirement is an example of a(n) (Points : 1)

definition.

declaration.

condition.

insuring agreement.

Question 6.

6.Lisa has three fire insurance policies on her office building. The policy from company A is for $400,000, and the policies from companies B and C are for $100,000 each. If Lisa has a $360,000 loss, how much of the loss will be covered by each policy if the loss is settled on a pro rata basis by the insurers? (Points : 1)

each policy: $120,000

policy A: $360,000; policies B and C: nothing

policy A: $160,000; policies B and C: $100,000 each

policy A: $240,000; policies B and C: $60,000 each

Question 7.

7.The transfer of insurable risk to the capital markets through the creation of a financial instrument is called (Points : 1)

enterprise risk management.

coefficient of risk.

securitization of risk.

financial risk management.

Question 8.

8.Which of the following statements is (are) true with regard to probability analysis?

I. If two events are independent, the occurrence of one event does not affect the occurrence of the second event.

II. If two events are dependent, the occurrence of one event affects the occurrence of the second event. (Points : 1)

I only

II only

both I and II

neither I nor II

Question 9.

9.As an alternative to coinsurance, rate discounts can be given as the amount of insurance to value increases. This alternative is called (Points : 1)

retrospective rating.

graded rates.

agreed value coverage.

manual rating.

Question 10.

10.Which of the following statements about "all-risks" coverage is (are) true?

I. All losses are covered except those losses specifically excluded.

II. The burden of proof is on the insured to prove that a loss is covered. (Points : 1)

I only

II only

both I and II

neither I nor II