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Risk Management & Life Insurance Practice Problems 20 points 1. The likelihood of long-term disability is far less than that of an untimely death. (1
Risk Management & Life Insurance Practice Problems 20 points 1. The likelihood of long-term disability is far less than that of an untimely death. (1 pt) a. True b. False 2. The Personal Liability Umbrella Policy (PLUP) provides excess liability coverage for the entire family. (1 pt) a. True b. False 3. A Health Maintenance Organization (HMO) chares on a fee-for-service basis. (1 pt) a. True b. False 4. Winding roads and bad eyesight are examples of: (1 pt) a. Physical Hazard b. Moral Hazard c. Morale Hazard d. Peril 5. Which of the following measures is appropriate for a risk that has a low frequency of occurrence and a high degree of severity? (1 pt) Transfer/Share risk. a. b. Avoid risk. c. Reduce risk. d. Retain risk. 6. In a disability policy, the time between the disability event and the point at which benefits, under the contract, begin is known as the: (1 pt) a. Disabled period. b. Discount period. c. Elimination period. Waiting room period
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