US Insurance Risk Management Advanced Test 5

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Insurance — Test 5 (Risk Management Advanced) Professional (Insurance, USA) USA State Insurance License — USA

What is this test? for Insurance (Property/Casualty, Life/Health) license, USA — Professional (Insurance, USA) level, USA.
For adults preparing for Insurance license in the USA
Section: Insurance — Test 5 (Risk Management Advanced) · Education: Professional (Adult) · Part: Insurance — Test 5 (Risk Management Advanced) · Country: USA

A regular habit of taking practice tests makes learned information stick and is one of the most important factors directly affecting exam success.

This test will help you gauge your knowledge in your field and manage your exam prep more efficiently.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a rider?

A) cancel

B) claim

C) basic policy

D) added coverage option

Question 2

What is a premium?

A) copay

B) regular insurance payment

C) claim payout

D) deductible

Question 3

What is a deductible?

A) amount paid before coverage

B) monthly bill

C) payout

D) copay

Question 4

What is a copay?

A) deductible

B) payout

C) premium

D) fixed visit fee

Question 5

What is coinsurance?

A) premium

B) full coverage

C) shared percent after deductible

D) copay

Question 6

What is liability coverage?

A) your car repairs

B) pays others' damage you cause

C) medical for you

D) theft of yours

Question 7

What is collision coverage?

A) liability

B) flood

C) your car crash repairs

D) theft

Question 8

What is comprehensive coverage?

A) liability

B) collision

C) health

D) non-crash damage (theft, hail)

Question 9

What is term life insurance?

A) lifetime

B) coverage for a set period

C) no expiry

D) investment

Question 10

What is whole life insurance?

A) lifetime plus cash value

B) no payout

C) yearly

D) term only

Question 11

What is a beneficiary?

A) lender

B) agent

C) person receiving payout

D) adjuster

Question 12

What is an out-of-pocket max?

A) deductible

B) premium

C) yearly payment ceiling

D) unlimited

Question 13

What is underwriting?

A) risk assessment for policies

B) canceling

C) claim filing

D) selling

Question 14

What is an exclusion?

A) what policy does NOT cover

B) covered item

C) deductible

D) premium

Question 15

What is HMO?

A) network HMO care plan

B) PPO

C) any doctor

D) no referrals

Question 16

What is PPO?

A) flexible network plan

B) HMO only

C) free care

D) no coverage

Question 17

What is flood insurance?

A) separate NFIP policy

B) no need

C) auto covers

D) homeowners covers

Question 18

What is an adjuster?

A) assesses claim payouts

B) collects premiums

C) sells policies

D) cancels

Question 19

What is subrogation?

A) doubling payout

B) refunding

C) canceling

D) insurer recovering from at-fault party

Question 20

What is actual cash value?

A) replacement minus depreciation

B) new price

C) purchase price

D) agreed value

US Insurance Risk Management Advanced Test 5

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