In order to be considered an "ideally insurable risk", there must be a possibility that a loss will occur?

Group of answer choices

True

False

Flag question: Question 2Question 21 pts

The purchase of an insurance policy by a consumer is the process of risk:

Group of answer choices

Reduction

Avoidance

Retention

Transfer

Flag question: Question 3Question 31 pts

The person whose life is covered by a life policy is the:

Group of answer choices

Applicant

Policyowner

Beneficiary

Insured

Flag question: Question 4Question 41 pts

If a person dies and fails to leave a will to direct the disbursement of assets, that person is said to have died:

Group of answer choices

Intestate

Intervivos

Flag question: Question 5Question 51 pts

Which of the following is an association of state insurance commissioners involved in the regulation of state insurance practices?

Group of answer choices

NAIC

TEFRA

COBRA

Flag question: Question 6Question 61 pts

The following are all examples of health care facilities except:

Group of answer choices

Hospital

A third party administrator

A skilled nursing facility

A surgicenter

Flag question: Question 7Question 71 pts

The premiums charged for whole life insurance do not increase over time. Thus, they are called "level premiums"

Group of answer choices

True

False

Flag question: Question 8Question 81 pts

Most frequently, an annuity is used to assist a person to plan for retirement

Group of answer choices

True

False

Flag question: Question 9Question 91 pts

The term "morbidity" is associated with what kind of insurance?

Group of answer choices

Life

Health

Automobile

Fire

Flag question: Question 10Question 101 pts

Part B of Medicare provides benefits for medical insurance. What benefits are provided in Part A?

Group of answer choices

Retirement

Hospitilization

Survivors