Maryland Property and Casualty Insurance Exam
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1. What is the chance of a loss? Risk
2. Insurance is designed to protect individuals from____ Loss
3. An individual who is indifferent to a loss is____ Morale Hazard
4. What is a cause of loss? Peril
5. John has a homeowners policy with a replacement cost Peril
of $250,000 and a deductible of $1,000. His house was
destroyed by a hurricane, what does this descrbie?
6. Which of the following is risk retention? C. Self insuring or paying
A. Joe pays his monthly premium your deductible is a form
B. An insurer pays John's disability benefit of Risk Retention.
C. ABC company decides to self fund the health insur-
ance
D. Insurer A buys a Reinsurance policy from insurer B.
7. Joe had an active job where he moved everyday. But Risk Reduction
now he has a desk job where he sits all day. When Joe
gets home he walks 2 miles and stops eating sweets.
How is Joe handling his desk job?
8. What is true regarding an insurable risk? The loss must be calculat-
able
9. What helps an insurance company predict which types Law of Large Numbers
of individuals in the U.S will die this year?
10. Which term best associated with reinsurance? Catastrophic
11. I live in maryland and buy a policy from Maryland life. Domestic Insurer
What type of insurer in Maryland Life?
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, Maryland Property and Casualty Insurance Exam
Study online at https://quizlet.com/_cozknt
12. I live in Maryland and buy a policy from New York? Foreign Insurer
What type of insurance in this?
13. I live in Maryland and buy a policy from SunLife Cana- Alien Insurer
da. What type of insurance is this?
14. I live in Maryland and buy a policy from Purteo Rico Foreign Insurer
Life. What type of insurance is this?
15. Whats an Independent rating service? They determine the finan-
cial stability of all insur-
ance companies
16. All of the following types of advertising except: D. AM best is a indepen-
A. TV Ad dent rating service
B. Radio Ad
C. Newspaper ad
D. AM Best
17. Which best describes an insurer that uses Direct Mail? Direct Response Market-
ing
18. What is true about the Life & Health and Property & The Insurance companies
Casualty Insurance Guaranty Corporation are assessed. All insur-
ance companies pay into it
based on how much busi-
ness they have. It exists in
case an insurance compa-
ny went bankrupt and can
not pay out claims.
19. Fraternal Benefits Soci-
eties
2/6
Study online at https://quizlet.com/_cozknt
1. What is the chance of a loss? Risk
2. Insurance is designed to protect individuals from____ Loss
3. An individual who is indifferent to a loss is____ Morale Hazard
4. What is a cause of loss? Peril
5. John has a homeowners policy with a replacement cost Peril
of $250,000 and a deductible of $1,000. His house was
destroyed by a hurricane, what does this descrbie?
6. Which of the following is risk retention? C. Self insuring or paying
A. Joe pays his monthly premium your deductible is a form
B. An insurer pays John's disability benefit of Risk Retention.
C. ABC company decides to self fund the health insur-
ance
D. Insurer A buys a Reinsurance policy from insurer B.
7. Joe had an active job where he moved everyday. But Risk Reduction
now he has a desk job where he sits all day. When Joe
gets home he walks 2 miles and stops eating sweets.
How is Joe handling his desk job?
8. What is true regarding an insurable risk? The loss must be calculat-
able
9. What helps an insurance company predict which types Law of Large Numbers
of individuals in the U.S will die this year?
10. Which term best associated with reinsurance? Catastrophic
11. I live in maryland and buy a policy from Maryland life. Domestic Insurer
What type of insurer in Maryland Life?
1/6
, Maryland Property and Casualty Insurance Exam
Study online at https://quizlet.com/_cozknt
12. I live in Maryland and buy a policy from New York? Foreign Insurer
What type of insurance in this?
13. I live in Maryland and buy a policy from SunLife Cana- Alien Insurer
da. What type of insurance is this?
14. I live in Maryland and buy a policy from Purteo Rico Foreign Insurer
Life. What type of insurance is this?
15. Whats an Independent rating service? They determine the finan-
cial stability of all insur-
ance companies
16. All of the following types of advertising except: D. AM best is a indepen-
A. TV Ad dent rating service
B. Radio Ad
C. Newspaper ad
D. AM Best
17. Which best describes an insurer that uses Direct Mail? Direct Response Market-
ing
18. What is true about the Life & Health and Property & The Insurance companies
Casualty Insurance Guaranty Corporation are assessed. All insur-
ance companies pay into it
based on how much busi-
ness they have. It exists in
case an insurance compa-
ny went bankrupt and can
not pay out claims.
19. Fraternal Benefits Soci-
eties
2/6
