TDI DISASTER ANSWERS TO PASS late st updated April 2023 Real Exam

TDI DISASTER ANSWERS TO PASS late st updated April 2023 Real Exam Quiz 1 1. If Lowest Cost Insurance Company chooses to accept his application for insurance, the insurer is the risk? • Retaining (Correct Answer) • Reducing • Avoiding • Transferring 2. If Lowest Cost Insurance Company declines his application for insurance, the insurer is the risk? • Retaining • Reducing • Avoiding (Correct Answer) • Transferring 3. Mr. Jones' heart attack is best described as his ? • Risk • Exposure onlystudents • Peril (Correct Answer) • Loss 4. If Lowest Cost Insurance Company rates the policy premium in order to accept the risk, the insurer is the risk? • Retaining • Reducing (Correct Answer) • Avoiding • Transferring onlystudents Quiz 2 1. When Mr. Ames policy is issued, who would be considered his ceding company or companies? • ABC Insurance Corp. • AIG • Allstate Insurance • ProActive Corp. (Correct Answer) 2. All of the following Element of Insurable Risk are required by an insurer in order to issue a policy EXCEPT: • The loss must be uncertain in order for an insurer to accept a proposed risk. • Loss must be certain (Correct Answer) • Economic Hardship • Large number of homogenous units Correct 3. If Mr. Ames (the insured) dies, which insurer will issue the check to his loved ones? • ProActive Insurer Corp. (Correct Answer) • ABC Insurance Corp. • AIG • Allstate Insurance 4. There are different forms of Reinsuring Agreements between Insurers. ABC Insurance Corp. routinely handles potential risk and reinsures losses as they are accepted by ProActive Insurer Corp. Which form below best describes the reinsuring agreement in effect with ABC Insurance Corp? • Facultative