4846952
Description
Quiz by Kaye Tiong, updated more than 1 year ago
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Created by Kaye Tiong
over 8 years ago
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Question 1
Question
The two catagories for risk are:
Answer
-
general risk, speculative risk
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speculative risk, specific risk
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ideal risk, pure risk
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pure risk, speculative risk
Question 2
Question
Insurance addresses the issue of speculative risk.
Answer
- True
- False
Question 3
Question
In life insurance the insurable interest condition must exist:
Answer
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at the time of application only
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at the time of issue only
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at time of loss only
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none of the above
Question 4
Question
ABC Insurance Company is incorporated in the State of California. Therefore it would be correct to refer to this insurer as:
Answer
-
reciprocal
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interexchange
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domestic
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mutual
Question 5
Question
ABC Insurance Company raises capital from investors. These investors share in the profits and losses of the insurer. This company would therefore be:
Answer
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fraternal
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assessment
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mutual
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stock
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