Question

1. Evaluating insurance coverage needs involves

A	Looking at the costs verses the potential for exposure

B	Only getting coverage that is required by the contract

C	Only getting coverage required by law

D	Speaking to the owner and covering what they want

2. High insurance deductible usually means:

A	lower premiums

B	Higher premiums

C	No difference in premium

D	you are willing to take on more risk

3. Worker's comp will still pay a claim if the worker was intoxicated at the time of the accident.

A

True

B

False

Answer 1

1.Evaluating insurance coverage needs involves

A. Looking at the costs verses the potential for exposure.

Reason : Evaluating means calculating the numeric value and hence when calculating insurance coverage, the cost which needs to be incurred and risks has to be considered.

2. High insurance deductible usually means:

1. Lower premium:

Reason : High insurance deductible usually means lower premium and vice versa low insurance deductible usually means high premium.

3. Worker's comp will still pay a claim if the worker was intoxicated at the time of the accident.

B. False

Reason : Self inflicted accidents are mostly not covered by workers compensation.