Asset-backed Securities, Loan Sales, and Derivatives — Test Answers

Insurance companies mainly make a profit from _____. (Select all that apply.)

Briefly explain how a union strike and delay of product delivery, then the subsequent inability to fulfill and be paid for a contract, impacts a company's cash on hand even months later.

Explain the different steps in the risk management process. Why is the pattern a circle? [150 minimum word count]

Insurance companies pay a premium tax which funds _____.

The Federal Insurance Office was created at about the same time as _____.

Mary is an agent who works with a direct marketing insurance company. She is more specifically known as a(n) _____.

The Health Insurance Portability and Accountability Act (HIPAA) was authorized during the _____ administration.

Jackson is an insurance company manager. That means he _____. (Select all that apply.)

Cybercrime is best described as _____.

Explain why we need organizations to assess risk.

There are different types of actuaries: one type for pensions, one type for health insurance, and one for casualty losses, for example.

XYZ Insurance Company is participating in federal contracts. That means they must allocate and spend on actual benefits for the insured _____ of the money they collect.

The National Flood Insurance Program is notable mainly because _____. (Select all that apply.)

Businesses typically purchase insurance mainly to _____.

The insurance industry was put into the care and authorization of the individual states by the passing of the _____.

Identify and define three types of annuity.