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Insurance Introduction Quiz

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  1. Question 1 of 20
    1. Question

    Which of the following is not an insurable risk?

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  2. Question 2 of 20
    2. Question

    Gambling is a good example of:

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  3. Question 3 of 20
    3. Question

    Risk Is

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  4. Question 4 of 20
    4. Question

    Insurers achieve a spread of risk by doing which of the following?

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  5. Question 5 of 20
    5. Question

    Fortuitous means …

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  6. Question 6 of 20
    6. Question

    An exceptionally high standard of honesty is implied by which of the following…

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  7. Question 7 of 20
    7. Question

    Which of the following is a moral hazard?

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  8. Question 8 of 20
    8. Question

    The main purpose of insurance is

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  9. Question 9 of 20
    9. Question

    The proximate cause is

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  10. Question 10 of 20
    10. Question

    Which of the following are types of Insurable Risks?

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  11. Question 11 of 20
    11. Question

    The insurance relating to operations such as retail stores is known as

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  12. Question 12 of 20
    12. Question

    Moral hazard refers to:

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  13. Question 13 of 20
    13. Question

    For an organization to achieve peace of mind it must operate within its tolerance level for uncertainty, which is the

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  14. Question 14 of 20
    14. Question

    The post-loss objective for a business that cannot survive even a few days of downtime is

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  15. Question 15 of 20
    15. Question

    The major financial responsibility for an organization following a loss is to

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  16. Question 16 of 20
    16. Question

    Which of the following is both a pre-loss objective and a post-loss objective of risk management?

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    Incorrect
  17. Question 17 of 20
    17. Question

    Regular inspection and testing of machinery, safety training programs and safety guards on machinery are

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  18. Question 18 of 20
    18. Question

    When a broker/agent employs risk management techniques in working with a client, the

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  19. Question 19 of 20
    19. Question

    An organization that complies with its contractual obligations and meets its commitments to customers has sound practices in place to meet the pre-loss objective of

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  20. Question 20 of 20
    20. Question

    When an organization reduces the probability of loss to zero, it has successfully implemented the loss control technique of

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    Incorrect

About

Melanie is delighted to be recognised as  the Insurance Institute  Instructor of the Year 2018 in recognition for outstanding performance and dedicated service.

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E-mail: melanie@mrdconsulting.ca

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