Changing the way you learn

Question 1

Question

Fidelity bonds are a form of business insurance that offers an employer protection against losses, either monetary or physical, caused by it employees’ fraudulent or dishonest actions.

Answer

True
False

Question 2

Question

The insuring agreement is the portion of an insurance policy for which the insurer promises to make payment to or in behalf of the insured.

Answer

True
False

Question 3

Question

Insuring agreements outline a broad scope of coverage, which is then narrowed by exclusions, and definitions.

Answer

True
False

Question 4

Question

A discovery form of policy allows for coverage of loss as long as the policy is held after the time of the losses discovery.

Answer

True
False

Question 5

Question

A loss-sustained form of policy only allows for the payment of loss if the loss was both sustained and discovered during the policies coverage.

Answer

True
False

Question 6

Question

The limit of liability may be considered as an aggregate amount and/or a single loss amount.

Answer

True
False

Question 7

Question

The aggregate amount of liability is the minimum amount an insurer would have to pay due to loss over a given policy agreement.

Answer

True
False

Question 8

Question

A single loss limit of liability is the maximum amount an insurer would pay to an insured throughout the duration of a policy.

Answer

True
False

Question 9

Question

________ is written for only the individual, and only covers the individual named in the bond.

Answer

Named employee bond
Specified position bond
Individual bond
Blanket bond

Question 10

Question

_________ is a comprehensive policy that does not require the distinction of individuals, rather the policy covers against the loss from all employees for which the policy or bond is granted.

Answer

Named employee bond
Specified position bond
Individual bond
Blanket bond

Question 11

Question

________ allows for coverage of all employees named

Answer

Named employee bond
Specified position bond
Individual bond
Blanket bond

Question 12

Question

________ covers the loss that may be incurred by a certain positioned employee.

Answer

Named employee bond
Specified position bond
Individual bond
Blanket bond

Question 13

Question

Financial institution bonds are used to insure banks and other financial institutions against employee dishonesty, burglary, robbery, forgery, and similar crime exposures.

Answer

True
False

Question 14

Question

Insurance companies:

Answer

Form 14
Form 15
Form 23
Form 24
Form 25

Question 15

Question

Securities Dealers:

Answer

Form 14
Form 15
Form 23
Form 24
Form 25

Question 16

Question

Credit Unions

Answer

Form 14
Form 15
Form 23
Form 24
Form 25

Question 17

Question

Finance Companies

Answer

Form 14
Form 15
Form 23
Form 24
Form 25

Question 18

Question

Banks and Thrifts:

Answer

Form 14
Form 15
Form 23
Form 24
Form 25

Question 19

Question

A pension bond guarantees that a state or local government pays into its employees pension funds as obligated.

Answer

True
False

Question 20

Question

Coverage form O serves as protection for a municipality or government agency against the dishonest workings of a public employee, and may often be referred to as public employee dishonesty coverage.

Answer

True
False

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Chapter 4

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Resource summary

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Question 7

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Question 11

Question 12

Question 13

Question 14

Question 15

Question 16

Question 17

Question 18

Question 19

Question 20

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	Created by L S over 5 years ago