Chapter 2 Quiz
Quiz by Cassidy, Jennifer
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
14 questions
Show answers
- Q1To protect themselves from an accumulation of risk in one area, insurers can share the risk withReinsureran intermediaryBrokeran aggregator30s
- Q2An example of a public body is a:doctor's surgeryfootball clubveterinary practicelocal authority30s
- Q3Which type of proprietary company is made up of shares which are not available to the general public?A private limited companyA public limited companyA captive companyA mutual company30s
- Q4Policyholders in mutual companies usually have:no liabilityunlimited liabilitylimited liabilityliability limited by guarantee30s
- Q5In the Lloyd's market, the process whereby a broker approaches an underwriter to obtain their signature in return for a share in a risk they are willing to accept is known as:Xchangingscratching a slipbrokeragewriting a line30s
- Q6To offer independent advice and engage in regulated activities, an intermediary must apply for direct authorisation from the FCA, in which case they will then be known as:an introducer appointed representativean appointed representativea designated professionalan authorised person30s
- Q7Who takes responsibility for the activities of an appointed representative?An introducerThe appointed representative and the principal jointlyA principal who is an authorised personThe appointed representative themselves30s
- Q8Which type of intermediary is tied to providing advice on the products provided by one or more particular insurers?An introducer appointed representativeAn independent intermediaryA Lloyd's brokerAn appointed representative30s
- Q9An example of an indirect marketing channel when used by an insurer is:a home service agenta leaflet posted through a potential customer's letterboxin-house company sales staffa broker30s
- Q10Re-insurance is a method of transferring risk used by:individualsinsurerspublic bodiescorporations30s
- Q11Reinsurers do not accept business directly from:private individualsLloyd's syndicatesother reinsurersinsurance companies30s
- Q12What is the representative organisation for international wholesale and reinsurance companies in the London market?LMBCIUALUCLloyd's30s
- Q13Electrical Engineering suffer a large fire at their factory. The factory's insurance company appoints a specialist to process the claim from start to finish. What kind of company appoints a specialist to process the claim from start to finish. What kind of specialist is this likely to be?A loss assessorAn underwriterA surveyorA loss adjustor30s
- Q14Clive is cycling and is hit by an uninsured driver, who is untraceable after the accident.To whom can he apply for compensation for his injuries?MIBUKICMIDABI30s