FInance CH 8, 9, 10 Exam Questions and
Answers Graded A+
Insurance is a tool that can reduce your _____ risk. - Correct answer-economic
The purchase of insurance is a common form of _____ by the insured. - Correct
answer-risk transfer
Insurance underwriting is best described as: - Correct answer-the process used by
insurers to decide who can be insured and to determine applicable rates that will be
charged for premiums.
The primary purpose of life insurance is to provide: - Correct answer-financial
security for your dependents after your death.
Insurance companies make profit by: - Correct answer-c. paying out less than the
sum of the premiums and the earnings on them.
A(n) _____ policy is a contract between an individual and a company under which
the company agrees to reimburse the individual for losses suffered by him or her
according to specified terms. - Correct answer-insurance`
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
Answers Graded A+
Insurance is a tool that can reduce your _____ risk. - Correct answer-economic
The purchase of insurance is a common form of _____ by the insured. - Correct
answer-risk transfer
Insurance underwriting is best described as: - Correct answer-the process used by
insurers to decide who can be insured and to determine applicable rates that will be
charged for premiums.
The primary purpose of life insurance is to provide: - Correct answer-financial
security for your dependents after your death.
Insurance companies make profit by: - Correct answer-c. paying out less than the
sum of the premiums and the earnings on them.
A(n) _____ policy is a contract between an individual and a company under which
the company agrees to reimburse the individual for losses suffered by him or her
according to specified terms. - Correct answer-insurance`
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
