Insurance Vocabulary: Choose the best answer (remember in an insurance context):
1)
Which of these would NOT be considered an asset when insuring a firm?
A.
The buildings and grounds B.
Accounts owed or receivable
C.
The fact that the warehouse is constructed of wood.
D. Possession of stock in other companies
E.
Their brand's recognition
2)
Which of these would NOT be concidered an liabitity when writing a policy for a
company or factory?
A.
Outdated machinery B. Company
patents C. An enviornmental
group's lawsuit naming this firm as plaintif. D.
High worker compensation rates E.
Elevated employee turnover
3)
The charges or prices paid for an insurance policy is called:.
A.
Premiums B. Interests C. Dividends D.
Loans E. Deductable
4)
Some insurance companies are called mutuals, for example Liberty Mutual. These
organizations share both their risks and profits with their customers mutually
(hence the name). If they have a good year: because they have chosen
responsible clients, had low losses, or even overcharged a little on their
policies they return a portion of their profits to their customers. This is
called a:
A.
Premium B. Interest C. Dividend D. Loan E.
Deductable
5)Insurance
companies don't wish to be bothered with small claims because the costs would
be extremely high since minor damage is
far more common then catasrophic . Just the expenses incurred in
processing all these claims would
prohibitive, therefore they invented the ___________, in which payments begin
after a set limit that the policy holders pay or absorb out of their pockets. .
A.
Premium B. Interest C. Dividend D. Loan E. Deductable
Who would be concerned with:
6) calculating projecting people's life
expectancy for creating life insurance policies.
A.
Accountant B.
Actuary C. Claims adjuster D. Underwriter E. Training manager
7)
likley works with the balance sheets.
A.
Accountant B. Actuary C. Claims adjuster D. Underwriter E.
Training manager
8)
approves, denies, or cancels the issuing
of a clients insurance program.
A.
Accountant B.
Actuary C. Claims adjuster D. Underwriter E. Training manager
9)
acesses and fixes the compensation to be paid for the damage to customer's
assets.
A.
Accountant B. Actuary C. Claims adjuster D.
Underwriter E. Training manager
10)
explains: new pension plans, changes in worker's compensation laws, the
advantages of new product lines, etc. A.
Accountant B.
Actuary C. Claims adjuster D. Underwriter E. Training manager
11)What
is Worker's Compensation, a Pension,, or a Claim?
Worker's
compensation is an
insurance coverage for injuries illnesses incurred on the job
Pension: is a retirement plan intended to
provide a person with a stable income for life (Insurance companies often
market pension plans to their clients)
Claim: right to money or compensation for
damages to a covered object or person under an insurance policy.
Life is a reflection
"A son
and his father were walking on the mountains.
Suddenly, his
son falls, hurts himself and screams: "AAAhhhhhhhhhhh!!!"
To his
surprise, he hears the voice repeating, somewhere in the mountain:
"AAAhhhhhhhhhhh!!!"
Curious, he
yells: "Who are you?"
He receives
the answer: "Who are you?"
And then he
screams to the mountain: "I admire you!"
The voice
answers: "I admire you!"
Angered at
the response, he screams: "Coward!"
He receives
the answer: "Coward!"
He looks to
his father and asks: "What's going on?"
The father
smiles and says: "My son, pay attention."
Again the man
screams: "You are a champion!"
The voice
answers: "You are a champion!"
The boy is
surprised, but does not understand.
Then the
father explains: "People call this ECHO, but really this is LIFE.
It gives you
back everything you say or do.
Our life is
simply a reflection of our actions.
If you want
more love in the world, create more love in your heart.
If you want
more competence in your team, improve your competence.
This
relationship applies to everything, in all aspects of life;
Life will
give you back everything you have given to it."
YOUR LIFE IS
NOT A COINCIDENCE. IT'S A REFLECTION OF YOU!"
What word
goes best with these verbs?
1. book - a) a
factory b) a
deal c)a room d) a business
2. set up -
a) a room b) a customer c) a
book d)a meeting
3. make -
a) competition b) a book c) a
room d)a deal
4. open -
a) a market
b) a competitor c) a manager d)a new branch
5. break into - a)a
market b) a
competition c) a
deal d) a
TV show
6. face -
a) a room b)competition
c) a factory d) love
General Topics
1)Science in
the service of human comfort 2)The
pleasures of gardening
3)Duties and
responsibilities of students 4)Uses
and abuses of cinema
5)Careers for
educated woman 6)There
is no place like home
7)The woman’s
place in the home and the country 8)The
pleasures of reading
9)Sportsmanship 10)If
I were a millionaire
Complete the following sentences by adding for or since.
1)Anita has known me ..... 6 years.(for)
2)This product has been on the market ..... 1993.(since)
3)I've been waiting for the contract ..... last week.(since)
4)The baby has been crying ..... ages.(for)
5)I've been married ..... October.(since)
6)Bernadette has been on holiday ..... two weeks.(for)
7)She's worked with me ..... Monday.(since)
8)That dog has been barking ..... 6am!(since)
9)It's been sunny ..... days!(for)
10)Chris has lived in his flat ..... 2 years.(for)
2)This product has been on the market ..... 1993.(since)
3)I've been waiting for the contract ..... last week.(since)
4)The baby has been crying ..... ages.(for)
5)I've been married ..... October.(since)
6)Bernadette has been on holiday ..... two weeks.(for)
7)She's worked with me ..... Monday.(since)
8)That dog has been barking ..... 6am!(since)
9)It's been sunny ..... days!(for)
10)Chris has lived in his flat ..... 2 years.(for)
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