Quizzer Page for: Basics of Property & Liability Insurance for Auditors & Fraud Examiners

Answer the following questions about the lecture...don't forget to submit them using the button at the bottom when you finish...we will grade your answers and e-mail you a digitally signed certificate of completion...

Answer the next 10 questions in the boxes provided
1.  What is the "basic rule" of insurance?
 


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2.  Risk is chance of loss.  Comment. 


 

3.    Why is a basic knowledge of insurance important to the auditor or Fraud Examiner?

 

4. For the insurance mechanism to operate, what are some of the conditions which must operate?  
 

5.  What does the exclusion section of a policy typically contain? 


6. What are the three things covered under the standard fire insurance contract?


7. What is an excess liability policy and what are some of the risks it typically covers?  

8.  Name several types of defined contribution plans?

9.  In an employee after-tax contribution account do earnings accumulate tax free?

10.  Why is the cost of "waiting to save money" potentially so high?

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