HCA 401 Life Insurance Quiz Chapter 2 – General Insurance

1. An insurance agent’s responsibilities include all of the following except: a. Represent the insurer b. Perform professionally c. Represent the client d. Perform faithfully 2. An individual’s tendency to be dishonest would be indicative of: a. Morale hazard b. Pure hazard c. Physical hazard d. Moral hazard 3. Shops near a college consistently get raided by fans after football games. Their insurers attach riders to their policies stating damage from raiding will not be covered. The shops enter a nonbinding agreement stating if another raid occurs and a store incurs damage, the other businesses will help with the financial burden of the loss. What is this called? a. Sharing b. Collective risk c. Transfer d. Cooperative loss coverage 4. A married couple has a unilateral joint life insurance policy. When one of the spouses was killed in a car accident, the insurance company refused to pay the death benefit. What should the surviving spouse do? a. Nothing. The contract is un