瑞达 Rejda 保险教材英文练习题09.docx

瑞达 Rejda 保险教材英文练习题09.docx

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瑞达Rejda保险教材英文练习题09

PrinciplesofRiskManagementandInsurance,11e（Rejda）

Chapter9FundamentalLegalPrinciples

1）Fundamentalpurposesoftheprincipleofindemnityincludewhichofthefollowing?

I.Toreducephysicalhazards.

II.Topreventtheinsuredfromprofitingfrominsurance.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

B

QuestionStatus:

PreviousEdition

2）Whichofthefollowingisafundamentalpurposeoftheprincipleofindemnity?

A）toreducemoralhazard

B）tominimizephysicalhazards

C）tosettlepropertyinsurancelossesonareplacementcostbasis

D）torequiredeductiblesinallpropertyinsurancepolicies

Answer:

A

QuestionStatus:

PreviousEdition

3）Sam'sfurniturewasdestroyedbyafire.Thefurniturecost$1200whenitwaspurchased,butsimilarnewfurniturenowcosts$1800.Assumingthefurniturewas50percentdepreciated,whatistheactualcashvalueofSam'sloss?

A）$600

B）$900

C）$1200

D）$1800

Answer:

B

QuestionStatus:

Revised

4）AllofthefollowingareexceptionstotheprincipleofindemnityEXCEPT

A）lifeinsurance.

B）valuedpolicies.

C）replacementcostpropertyinsurance.

D）actualcashvaluepropertyinsurance.

Answer:

D

QuestionStatus:

PreviousEdition

5）Underwhichofthefollowingrulesisactualcashvaluedeterminedbytakingintoconsiderationallrelevantfactorsanexpertwouldusetodeterminethevalueoftheproperty?

A）thecircumstantialevidencerule

B）thebroadevidencerule

C）thepropertyindemnityrule

D）theobjectivevaluerule

Answer:

B

QuestionStatus:

PreviousEdition

6）Atotallossunderavaluedpolicyissettledonthebasisofthe

A）marketvalueoftheloss.

B）actualcashvalueoftheloss.

C）replacementvalueoftheloss.

D）amountofinsurancecoveringtheloss.

Answer:

D

QuestionStatus:

PreviousEdition

7）Whichofthefollowingstatementsdescribeshowlosseswillbesettledifapropertyinsurancepolicyiswrittenonareplacementcostbasis?

A）Lossesaresettledwithouttheapplicabledeductible.

B）Lossesaresettledwithoutadeductionfordepreciation.

C）Theinsurermustreplacethedamagedordestroyedpropertyinlieuofacashsettlement.

D）Thepolicyisconvertedtoavaluedpolicy.

Answer:

B

QuestionStatus:

PreviousEdition

8）Whichofthefollowingstatementsabouttheprincipleofinsurableinterestis（are）true?

I.Itmakesitdifficulttomeasuretheamountofaninsured'sloss.

II.Itreducesmoralhazard.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

B

QuestionStatus:

PreviousEdition

9）AllofthefollowingwillsupportaninsurableinterestforpurposesofpurchasingpropertyandliabilityinsuranceEXCEPT

A）closefamilyrelationship.

B）potentiallegalliability.

C）securedcreditors.

D）acontractright.

Answer:

A

QuestionStatus:

PreviousEdition

10）Whichofthefollowingstatementsaboutaninsurableinterestinlifeinsuranceis（are）true?

I.Itisrequiredofanypersonnamedasbeneficiary.

II.Itmayresultfromapecuniary（financial）interest.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

B

QuestionStatus:

Revised

11）Whenmustaninsurableinterestlegallyexistinlifeinsurance?

A）onlyatthetimeoftheinsured'sdeath

B）onlyattheinceptionofthepolicy

C）onlyatthetimethebeneficiaryispaid

D）bothatthetimeoftheinsured'sdeathandattheinceptionofthepolicy

Answer:

B

QuestionStatus:

PreviousEdition

12）Whenmustaninsurableinterestlegallyexistinpropertyinsuranceforaninsuredtoreceivepaymentforalossfromtheinsurer?

A）onlyatthetimeoftheloss

B）onlyattheinceptionofthepolicy

C）onlyatthetimethelosssettlementprocesstakesplace

D）bothatthetimeofthelossandattheinceptionofthepolicy

Answer:

A

QuestionStatus:

Revised

13）Sue'sofficebuildingwasdamagedbyafirecausedbyacarelesstenant.AfterpayingSueforherloss,theinsurancecompanysuedthetenanttorecoveritsloss.Thissuitisbasedontheprincipleof

A）warranty.

B）insurableinterest.

C）utmostgoodfaith.

D）subrogation.

Answer:

D

QuestionStatus:

PreviousEdition

14）AllofthefollowingarebasicpurposesofsubrogationEXCEPT

A）toeliminateadverseselection.

B）toholddownthecostofinsurance.

C）topreventaninsuredfromcollectingtwiceforthesameloss.

D）toholdthenegligentpersonresponsibleforaloss.

Answer:

A

QuestionStatus:

PreviousEdition

15）Whichofthefollowingstatementsaboutsubrogationistrue?

A）Itisusedprimarilyforlossespaidunderlifeinsurancepolicies.

B）Itallowstheinsurertosueitsowninsuredwhoisnegligent.

C）Theinsured'srighttocollectbenefitsmaybeforfeitediftheinsuredinterfereswiththeinsurer'srightsafteralossoccurs.

D）Theinsurerisrequiredtoexerciseitssubrogationrights.

Answer:

C

QuestionStatus:

PreviousEdition

16）TheprincipleofutmostgoodfaithissupportedbyallofthefollowinglegaldoctrinesEXCEPT

A）representations.

B）warranty.

C）subrogation.

D）concealment.

Answer:

C

QuestionStatus:

PreviousEdition

17）Whatisthelegalsignificanceofamaterialconcealmentbyaninsuranceapplicant?

A）Thecontractisautomaticallyvoidedfromitsinception.

B）Thecontractisvoidableattheinsurer'soption.

C）Losspaymentsarereducedbythedegreeoftheconcealment.

D）Theinsurerisimmediatelyentitledtoahigherpremium.

Answer:

B

QuestionStatus:

PreviousEdition

18）Whatisthelegalsignificanceofamaterialmisrepresentationinaninsuranceapplication?

A）Thecontractisautomaticallyvoidedfromitsinception.

B）Thecontractisvoidableattheinsurer'soption.

C）Losspaymentsarereducedbythedegreeofthemisrepresentation.

D）Theinsurerisimmediatelyentitledtoahigherpremium.

Answer:

B

QuestionStatus:

PreviousEdition

19）Afalsestatementmadebyanapplicantforinsuranceisanexampleofa

A）concealment.

B）breachofwarranty.

C）lackofofferandacceptance.

D）misrepresentation.

Answer:

D

QuestionStatus:

PreviousEdition

20）Whichofthefollowingstatementsaboutawarrantyinaninsurancecontractis（are）true?

I.Itispartoftheinsurancecontract.

II.Statementsmadebyaninsuranceapplicantareconsideredwarrantiesratherthanrepresentations.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

A

QuestionStatus:

PreviousEdition

21）Davidownsaliquorstoreinahigh-crimearea.Inordertoobtainareducedinsurancepremium,Davidpromisedtohaveaburglaralarmoperatingatthestorewhenthestorewasclosed.Thisagreement,whichwasincorporatedintotheinsurancecontract,isanexampleofa

A）representation.

B）unilateralcontract.

C）contractofadhesion.

D）warranty.

Answer:

D

QuestionStatus:

PreviousEdition

22）Whichofthefollowingstatementsaboutofferandacceptanceforinsurancecontractsistrue?

A）Inpropertyandliabilityinsurance,agentstypicallydonothavetheauthoritytobindcoverage.

B）Inlifeinsurance,theagentcanusuallyacceptanofferbyimmediatelybindingcoverage.

C）Inpropertyinsurance,theofferandacceptanceareusuallyinwritingbutmaybeoral.

D）Inlifeinsurance,theofferismerelythepromisetopaythefirstpremium.

Answer:

C

QuestionStatus:

PreviousEdition

23）ChrisappliedforlifeinsuranceandpaidthefirstpremiumonMonday.Shewasgivenaninsurabilitypremiumreceiptwhichspecifiedthatcoveragewaseffectiveonthedateoftheapplicationorthedateofthemedicalexam,whicheverislater.ShetookthemedicalexamthefollowingThursday.Shewasfoundtobeinperfecthealth.Onwhichdaywashercoverageeffective?

A）onMonday,whenshecompletedtheapplicationandpaidthefirstpremium

B）onWednesday,twodaysaftercompletingtheapplicationandpayingthefirstpremium

C）onThursdaywhenshepassedthemedicalexam

D）onSaturday,twodaysafterpassingthemedicalexam

Answer:

C

QuestionStatus:

PreviousEdition

24）Whichofthefollowingstatementsaboutconsiderationinaninsurancecontractis（are）true?

I.Theinsured'stotalconsiderationissubmissionofacompletedapplication.

II.Theinsurer'sconsiderationisthepromisetodothosethingsspecifiedinthepolicy.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

B

QuestionStatus:

PreviousEdition

25）Acontractinwhichthevaluesexchangedarenotequalbecausechanceisinvolvediscalleda（n）

A）contractofadhesion.

B）unilateralcontract.

C）conditionalcontract.

D）aleatorycontract.

Answer:

D

QuestionStatus:

PreviousEdition

26）Whyareinsurancecontractssaidtobecontractsofadhesion?

A）Thevaluesexchangedbythepartiestothecontractarenotequal.

B）Onepartywritesthecontract,andtheotherpartymustaccepttheentirecontractaswritten.

C）Onlyonepartymakesalegallyenforceablepromise.

D）Conditionsareplacedontheinsurer'spromisetoperform.

Answer:

B

QuestionStatus:

Revised

27）Whydoestheinsuredgetthebenefitofthedoubtifaninsurancepolicycontainsanyambiguitiesoruncertainties?

A）becauseinsurancecontractsarealeatory

B）becauseinsurancecontractsareunilateral

C）becauseinsurancecontractsareconditional

D）becauseinsurancecontractsarecontractsofadhesion

Answer:

D

QuestionStatus:

PreviousEdition

28）Whycananinsurerrefusetopayaclaimifaninsuredfailstoabidebythepolicyprovisions?

A）becauseinsurancecontractsarealeatory

B）becauseinsurancecontractsareunilateral

C）becauseinsurancecontractsareconditional

D）becauseinsurancecontractsarecontractsofadhesion

Answer:

C

QuestionStatus:

PreviousEdition

29）Whichofthefollowingtypesofinsurancepoliciescanus