1) Who is our direct customer a) Employee b) Employer c) Broker d) Distribution 2) Advantages of Group Insurance are... a) Lower rates as compared to individual products b) ER contributions are tax deductible business expenses c) Provide coverage for people who might not otherwise qualify d) All of these answers 3) People with a ____ are more likely to purchase insurance. a) less than average likelihood of risk b) greater than average likelihood of risk c) both A & B d) neither A or B 4) This is an event held prior to the policy effective date when employees can make elections to their insurance coverage. a) Eligibility b) Evidence of Insurability c) Enrollment d) Guarantee Issue 5) Which level of participation would provide the best spread of risk? a) Non-contributory b) Contributory c) Voluntary d) All of the these 6) True or False: Employees must be actively at work in order to be eligible for coverage. a) True b) False 7) An example of a Moral Hazard for an employee might be... a) job promotion b) company bankruptcy c) salary increase d) All of these 8) True or False: If an employee elects an amount of coverage which is greater than the Guarantee Issue amount, that amount is automatically approved. a) True b) False 9) Another term for Evidence of Insurability is... a) medical proof b) medical approval c) health assessment d) medical underwriting 10) Which risk would not be associated with a group's industry? a) economic stability b) geographic location c) turnover rates d) seasonal business cycles

Common Risk Elements

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