Instruction: Two this assessment contains 5 multiple choice questions, each worth 2 points. Choose the Best answer from the given alternatives, Use only capital letters 1) is an arrangement whereby an insurer so has accepted all insurance, transfers a part of the risk to another insurer so that his liability on any one risk is limited to a figure proportionate to his financial capacity. a) Liability Insurance b) Life insurance c) Health insurance (d) Reinsurance Insurance 2) Which one of the following are not the types of life insurance policies? a) Universal life insurance b) Variable life insurance c) Simplified issue life insurance d) Guaranteed issue life insurance e) None 3) Which one of the following are not elements of an insurable risk? a) Determinable distribution. probability b) Calculable chance of loss. Fortuitous loss. Catastrophic loss. e) None 4) Which one of the following is true about the differences between life and health insurance? a) The premium for health insurance can either be paid in periodic intervals; In contrast, the life insurance premium is paid for the whole term. b) In health insurance, both survival and death benefits are provided to the policyholder on the other hand life insurance provides treatment and medical benefits, in case of illness or accident. c) Life insurance is usually taken for a long-term and health insurance is taken for the short term d) All 5) Which one of the following is not Benefits of purchasing Personal Accident Insurance a) Accidental Death b) Emergency Evacuation Temporary Disability d) Medical Expenses e) None INSTRUCTION: 3 Read and analyze each question carefully and answer the questions correctly. 1. Write the difference between health and life insurance (4points) 2. List and in brief explain Benefits of Insurance to the Nation (4points) 3. Write and briefly explain in detail the steps of risk management(4points)
