Insurance - NGPF Exam Questions with Correct Answers Latest Update 2025-2026
Actuary - Answers A person who compiles and analyzes statistics to calculate risk and
determine insurance rates and premiums
Claim - Answers A formal request from the customer to an insurance company asking for a
payment based on the terms of the insurance policy
Collision Coverage - Answers Auto insurance that protects you against costs to repair your own
vehicle after a crash
Comprehensive Coverage - Answers Auto insurance that protects you against costs to repair or
replace your vehicle after events out of your control such as weather, vandalism, theft, etc.
Copay - Answers A fixed dollar amount the patient pays at each office visit or hospital
encounter, as specified in the patient's insurance policy.
Coverage Limit - Answers The maximum amount an insurance company will pay if you file a
claim.
Deductible - Answers The amount of money you agree to pay towards your losses before your
insurance coverage will begin paying
Disability Insurance - Answers A type of insurance paid to an individual if he/she is injured and is
unable to work for a specified length of time.
HMO - Answers Health maintenance organization. A health insurance plan in which patients
receive health care from designated providers.
Homeowners - Answers A form of property insurance, available to property owners, that covers
losses to the physical structure as well as to their personal property and protects the insured
person from liability claims
Insurance - Answers An agreement where you make regular payments to a company and the
company promises to pay you money if you suffer a specified injury, illness, loss, etc.
Insurance Policy - Answers A contract in which an individual or entity receives financial
protection or reimbursement against losses
Liability Coverage - Answers Auto insurance that protects you against medical costs for the
bodily injury of others and damages to the property of others if you are at fault in an accident
Life - Answers Insurance paid to named beneficiaries when the insured person dies
Medicaid - Answers A federal and state assistance program that pays for health care services
for people who cannot afford them
Actuary - Answers A person who compiles and analyzes statistics to calculate risk and
determine insurance rates and premiums
Claim - Answers A formal request from the customer to an insurance company asking for a
payment based on the terms of the insurance policy
Collision Coverage - Answers Auto insurance that protects you against costs to repair your own
vehicle after a crash
Comprehensive Coverage - Answers Auto insurance that protects you against costs to repair or
replace your vehicle after events out of your control such as weather, vandalism, theft, etc.
Copay - Answers A fixed dollar amount the patient pays at each office visit or hospital
encounter, as specified in the patient's insurance policy.
Coverage Limit - Answers The maximum amount an insurance company will pay if you file a
claim.
Deductible - Answers The amount of money you agree to pay towards your losses before your
insurance coverage will begin paying
Disability Insurance - Answers A type of insurance paid to an individual if he/she is injured and is
unable to work for a specified length of time.
HMO - Answers Health maintenance organization. A health insurance plan in which patients
receive health care from designated providers.
Homeowners - Answers A form of property insurance, available to property owners, that covers
losses to the physical structure as well as to their personal property and protects the insured
person from liability claims
Insurance - Answers An agreement where you make regular payments to a company and the
company promises to pay you money if you suffer a specified injury, illness, loss, etc.
Insurance Policy - Answers A contract in which an individual or entity receives financial
protection or reimbursement against losses
Liability Coverage - Answers Auto insurance that protects you against medical costs for the
bodily injury of others and damages to the property of others if you are at fault in an accident
Life - Answers Insurance paid to named beneficiaries when the insured person dies
Medicaid - Answers A federal and state assistance program that pays for health care services
for people who cannot afford them
