WebCE Insurance Fraud exam questions with answers

WebCE Insurance Fraud exam questions |\ |\ |\ |\ |\




with answers |\




______ is suitably described as theft by deception. - CORRECT
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ANSWERS ✔✔Fraud |\




______ insurance fraud takes place when a person deliberately fakes
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an accident or fabricates a loss - CORRECT ANSWERS ✔✔Hard
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_____ insurance fraud occurs when someone pads or adds to a
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legitimate claim, it can also be as opportunistic fraud. - CORRECT
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ANSWERS ✔✔Soft |\




_______ fraud is committed against an insurance company or its
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policyholders by insurance agents, managers, executives, and other
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employyees - CORRECT ANSWERS ✔✔Internal |\ |\ |\ |\




___________ on insurance applications take place when agents
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assist applicants in misrepresenting or omitting information
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material to the coverage sought - CORRECT ANSWERS
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✔✔Misrepresentations

, If misrepresentation is not discovered until after a loss, the company
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may rescind the policy and ___________________ - CORRECT
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ANSWERS ✔✔deny the claim. |\ |\ |\




________ Fraud schemes are those directed against insurance
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companies by individuals or entities such as policyholders, medical
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providers, beneficiaries, and career criminals. (arson, disaster fraud,
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maufactured fraudulent claims, exaggerated claims) - CORRECT
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ANSWERS ✔✔External |\




________ fraud involves claims made by disaster victims for more
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damages than actually occurred or damages that never occurred. It
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can also include collecting money to repair damaged property but
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not completing the work - CORRECT ANSWERS ✔✔Disaster
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Manufacturing a _____________ claim may involve a staged auto |\ |\ |\ |\ |\ |\ |\ |\ |\



accident, burglary, vandalism, or mugging; - CORRECT ANSWERS
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✔✔fradulent


__________ a claim is essentially overstating the amount of loss on
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an otherwise legitimate claim. - CORRECT ANSWERS
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✔✔Exaggerating