UNIVERSITY OF UTAH LIFE INSURANCE EXAM 2024

UNIVERSITY OF UTAH LIFE INSURANCE EXAM 2024 Which of the following is NOT true about social insurances? A Partioipation Is mandatory and automatic for all elipible citizens B Social insurance provides equal benefits to all citizens that contribute C The government, as an insurance provider, has a clear and strong monopoly D Benefits are prescribed by law any changes to the benefit structure and provisions are made by changes in the law - correct answer B Social insurance provides equal benefits to all citizens that contribute Which of the following statements regarding an insurable risk is FALSE? A The chance of loss must be calculable B There must be a large number of homogeneous units C The loss must cause an economic hardship on the insurer D The insured event must be-accidental - correct answer The loss must cause an economic hardship on the insurer (INSURED)