Question 1

All workers' compensation claims are reviewed by special courts.

Accepted Answer

A) True 
 B)False

Question 2

The exclusive remedy of workers' compensation law states that the:

Accepted Answer

A)  compensation scheme for a work-related injury is the employee's choice 
B)  employer can sue employees for misconduct after compensation is paid 
C)  employee can only collect from the workers' compensation system for work-related injuries 
D)  worker must exclusively use the tort system to resolve liability claims against the employer 
A)  compensation scheme for a work-related injury is the employee's choice 
B)  employer can sue employees for misconduct after compensation is paid 
C)  employee can only collect from the workers' compensation system for work-related injuries 
D)  worker must exclusively use the tort system to resolve liability claims against the employer

Question 3

Which of the following is false concerning unemployment insurance?

Accepted Answer

A)  It is experience-rated. 
B)  It originated in the Social Security Act of 1935. 
C)  It is paid for by both the employee and employer in the form of a wage-based tax. 
D)  It does not provide benefits to a worker who voluntarily quits a job. 
A)  It is experience-rated. 
B)  It originated in the Social Security Act of 1935. 
C)  It is paid for by both the employee and employer in the form of a wage-based tax. 
D)  It does not provide benefits to a worker who voluntarily quits a job.

Question 4

Choose the year closest to the enactment of unemployment insurance:

Accepted Answer

A)  1929 
B)  1935 
C)  1946 
D)  1955 
A)  1929 
B)  1935 
C)  1946 
D)  1955

Question 5

Cumulative injuries refer to disabling illnesses that occur over time in a working career.

Accepted Answer

A) True 
 B)False

Question 6

When state unemployment funds are inadequate to continue paying benefits to unemployed workers, the state can:

Accepted Answer

A)  declare bankruptcy 
B)  levy additional taxes on an ad hoc basis, but no more than 10% in one year 
C)  do nothing other than file a claim under any private unemployment insurance it may have purchased 
D)  borrow from the federal government without paying interest 
A)  declare bankruptcy 
B)  levy additional taxes on an ad hoc basis, but no more than 10% in one year 
C)  do nothing other than file a claim under any private unemployment insurance it may have purchased 
D)  borrow from the federal government without paying interest

Question 7

Which of the following does not influence a worker's eligibility for, and amount of, unemployment benefits?

Accepted Answer

A)  Waiting period 
B)  Earnings record 
C)  Continuing interest in employment 
D)  Type of work performed 
A)  Waiting period 
B)  Earnings record 
C)  Continuing interest in employment 
D)  Type of work performed

Question 8

From the employer's stand point, workers' compensation insurance may be seen as a substitute for other types of liability insurance.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not a purpose of workers' compensation laws?

Accepted Answer

A)  Give broad coverage to employees for work related injuries 
B)  Protect workers against lost earnings 
C)  Protect employers against the business interruption risk 
D)  Provide sufficient medical care for the injured worker 
A)  Give broad coverage to employees for work related injuries 
B)  Protect workers against lost earnings 
C)  Protect employers against the business interruption risk 
D)  Provide sufficient medical care for the injured worker

Question 10

Workers' compensation covers all of the following losses except:

Accepted Answer

A)  medical expenses resulting from a job-related injury 
B)  rehabilitation expenses resulting from a job-related injury 
C)  lost wages during a disability that results from job-related injuries 
D)  medical expenses resulting from an at-home accident 
A)  medical expenses resulting from a job-related injury 
B)  rehabilitation expenses resulting from a job-related injury 
C)  lost wages during a disability that results from job-related injuries 
D)  medical expenses resulting from an at-home accident

Question 11

The majority of workers' compensation coverage comes from state-operated insurance pools.

Accepted Answer

A) True 
 B)False

Question 12

Workers' compensation insurance today is primarily a federal, rather than a state, program.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is paid for under most workers' compensation systems?

Accepted Answer

A)  Injuries resulting from intoxication 
B)  Self-inflicted intentional injuries 
C)  Injuries resulting from willful failure to follow safety rules 
D)  Injuries occurring from "horse-play" on the job 
A)  Injuries resulting from intoxication 
B)  Self-inflicted intentional injuries 
C)  Injuries resulting from willful failure to follow safety rules 
D)  Injuries occurring from "horse-play" on the job

Question 14

What are the general types of benefits provided under workers' compensation?

Accepted Answer

1) cash payments to replace lo

Question 15

Assumption of risk was a common defense used by employers prior to the enactment of workers' compensation laws.

Accepted Answer

A) True 
 B)False

Question 16

Before workers' compensation laws, what legal defenses did employers use when they were sued by an employee injured at work? Briefly explain each of these defenses.

Accepted Answer

Assumption of the risk, contri

Question 17

The states can finance deficits in their unemployment compensation programs with interest-free loans from the federal government.

Accepted Answer

A) True 
 B)False

Question 18

What is the federal covered maximum wage for unemployment insurance taxation?

Accepted Answer

A)  $700 
B)  $7,000 
C)  $70,000 
D)  $700,000 
A)  $700 
B)  $7,000 
C)  $70,000 
D)  $700,000

Exam 21: Unemployment and Workers Compensation Insurance

All workers' compensation claims are reviewed by special courts.

The exclusive remedy of workers' compensation law states that the:

Which of the following is false concerning unemployment insurance?

Choose the year closest to the enactment of unemployment insurance:

Cumulative injuries refer to disabling illnesses that occur over time in a working career.

When state unemployment funds are inadequate to continue paying benefits to unemployed workers, the state can:

Which of the following does not influence a worker's eligibility for, and amount of, unemployment benefits?

From the employer's stand point, workers' compensation insurance may be seen as a substitute for other types of liability insurance.

Which of the following is not a purpose of workers' compensation laws?

Workers' compensation covers all of the following losses except:

The majority of workers' compensation coverage comes from state-operated insurance pools.

Workers' compensation insurance today is primarily a federal, rather than a state, program.

Which of the following is paid for under most workers' compensation systems?

What are the general types of benefits provided under workers' compensation?

Assumption of risk was a common defense used by employers prior to the enactment of workers' compensation laws.

Before workers' compensation laws, what legal defenses did employers use when they were sued by an employee injured at work? Briefly explain each of these defenses.

The states can finance deficits in their unemployment compensation programs with interest-free loans from the federal government.

What is the federal covered maximum wage for unemployment insurance taxation?

Introduction to Enterprise Risk Management and Insurance

Risk Identification

Risk Assessment and Pooling

Risk-Handling Techniques: Loss Control, Risk Transfer, and Loss Financing

Risk-Handling Techniques: Diversification and Hedging

Fundamentals of Insurance

Insurable Perils and Insuring Organizations

Insurance Functions

Insurance Markets: Economics and Issues

Insurance Regulation

Insurance Contracts

The Personal Auto Policy

Homeowners Insurance

Professional Financial Planning

Life Insurance Policies

Standard Life Insurance Contract Provisions and Options

Annuities

Health Insurance and Disability Income

Employee Benefits

Social Security

Commercial Property Insurance

Commercial Liability Insurance

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