11. In addition to covering an insureds liability due to bodily injury or property damage, the insurer promises to defend against suits claiming such injuries. The insurers obligation to defend against liability ends when:

1. the claims are filed after the retroactive date.
2. a number of exclusions are intended to standardize the risk and/or to limit duplicate coverage.
3. it has paid out its limits for any of the coverages in settlements or judgments.
4. the claims are filed after the extended reporting period.
5. the time lag between premium payments and loss payments is smaller.

11. Which of the following statements is true about cafeteria plans?

1. Modular cafeteria plans are more flexible than the core plus cafeteria plans.
2. Long-term care is included in cafeteria plans, while a 401(k) plan is excluded.
3. If there are not enough credits, the employee can pay the additional cost through payroll deduction on a pretax basis using a modular conversion plan.
4. The flexible spending account is part of a cafeteria plan.
5. A core plus cafeteria plan requires less administrative cost than a modular cafeteria plan.

11. If the commercial general liability policy is a(n) _____ policy, it will cover liability for events that take place within the policy period, regardless of when the plaintiff makes a claim.

1. actual cash
2. claims-made
3. extended replacement
4. occurrence
5. replacement

11. Which of the following is true about the age structure and the population pyramid of China?

1. It has a fully reversed age pyramid.
2. It has an age structure similar to that of a young, developing country.
3. It has experienced the natural evolutionary baby boom.
4. It has a rectangular-shaped population pyramid rather than an inverted pyramid.
5. It has an age structure similar to that of a mature, developed country.