Question

Question 1 (1 point)

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A contract in which the insurer agrees to assume certain risks of the insured for consideration is __________.

Question 1 options:

	an insurance policy
	a premium
	a risk
	a policyholder

Question 2 (1 point)

After an investigation of a malpractice claim, the insurance company __________ if liability is questionable and the risks of proceeding to trial are too great.

Question 2 options:

	may agree to a settlement
	issue a new malpractice insurance policy to cover the plaintiff’s injuries
	generally goes to trial
	always abides by the wishes of the insured defendant(s

Question 3 (1 point)

Insurance companies are required by the laws of the different states to issue only policies that contain certain mandated provisions to __________.

Question 3 options:

	guarantee to policyholders that their expectations will be met
	maintain certain financial reserves
	guarantee to policyholders that their expectations will be met when coverage is needed for criminal activity
	maintain certain financial reserves to guarantee to policyholders that their expectations will be met when coverage is needed

Question 4 (1 point)

When the insured becomes aware that an injury has occurred as a result of acts covered under the contract, __________.

Question 4 options:

	the policy holder at the time of the covered incident need not report the incident to the carrier until an agreement is reached as to any liability the policy holder may be liable for, until such time as the court determines the amount due from the policy holder
	notice need not be oral or written, regardless of what is specified in the policy
	notice must not be provided to the carrier
	the insured must notify the insurance company on a timely basis as to the covered incident occurrence and within the terms of the contract

Question 5 (1 point)

Professional liability policies vary in __________.

Question 5 options:

	coverage exclusions for home insurance
	broadness and exclusions from coverage as well as the company’s interpretation of the language of the contract
	interpretations a company places on the language of the contract
	exclusions from coverage but not in scope of coverage

Answer 1

ANSWER.

1) A contract in which the insurer agrees to assume certain risks of the insured

   for consideration is An insurance policy.

2) After an investigation of a malpractice claim may agree to the settlement if liablity

   is questionable and the risks of proceeding to trial are too great.

3) Insurance companies are required by the laws of the different states to issue only policies

    that contain certain mandated provisions to Maintain certain financial reserves to guarantee

    to policy holders that their expectations will be met when coverage is needed.

4) When the insurance becomes aware that an injury has occured as a result of acts covered

    under the contract,The insurer must notify the insurance company on a timely basis as to the

    covered incident occurance and within terms of the contract.

5) Professional liabilty policies vary in Broadness and exclusions from coverage as well

    as the company's interpretation of the language of the contract.