Insurance
Movies
Origins or Ice Cream
Actuarial Profession and Exams
MassMutual
100
What portion of the property/casualty insurance industry losses and adjustment expenses is fraud? (A) 5% (B) 10% (C) 15% (D) 20% (E) 25%
B) 10% According to estimates by the Insurance Information Institute, insurance fraud accounts for about 10 percent of the property/casualty insurance industry’s incurred losses and adjustment expenses.
100
In what 2002 hit movie was the main character an actuary? (A.) Catch Me If You Can (B.) About Schmidt (C.) About a Boy (D.) Harry Potter and the Chamber of Secrets
The main character in About Schmidt, played by Jack Nicholson, is a retired actuary.
100
How many licks does it take to finish a single scoop ice cream cone? (A)50 (B)60 (C)70 (D)100
(A) 50. source - ecreamery.com
100
How many members are there in Casualty Actuarial Society (Fellows, Associates, Affiliates) as of 2010 year end? (A) 2,517 (B) 2,817 (C) 3,517 (D) 4,517 (E) 5,417
E. There are 5,417 members, they gained 511 members in 2010 through exam accreditation.
100
At MassMutual, which areas do actuaries work in? (A.) Financial Planning and Analysis (B.) Enterprise Risk Management (C.) MassMutual International (D.) Both A and B are correct (E.) Both B and C are correct F. A, B, and C are correct
F. A, B, and C are correct
200
*Double Bonus* True or False Your pets in your household is covered by your homeowners' insurance policy.
False. Liability claims caused by your pets is covered, however. For example, if your dog attacked a mailman or your friend visiting you. Separate pet insurance is available to insure them against accidents and illnesses.
200
Which 2016 children's movie features an aspiring actuary? (A.) Zootopia (B.) Finding Dory (C.) The BFG (D.) Fantastic Beasts and Where to Find Them
In Zootopia, the character Jaguar is a young tiger that aspires to be an actuary
200
Which state created the first department of insurance to regulate the sale of insurance? (A) Illinois (B) Massachusetts (C) Texas (D) California (E) New York
New York was the first to create a department and made laws to impose taxes on insurers from another state to protect in-state insurers.
200
Which of the following is not a professional actuarial designation? (A) F.S.A. (B) C.L.U. (C) M.A.A.A. (D) F.C.A.S.
B is not an actuarial designation. F.S.A. is the designation for Fellow of the Society of Actuaries. C.L.U. is a designation for individuals involved in marketing and underwriting insurance. M.A.A.A. is a member of the American Academy of Actuaries attained by experience and other qualifications. This organization deals primarily with matters of public policy such as regulation and standard of conduct. F.C.A.S. is a Fellow of the Casualty Society of Actuaries.
200
Which of the following products are offered by MassMutual? (A.) Annuities (B.) Disability Income Insurance (C.) Health Insurance (D.) Life Insurance (E.) Long Term Care (F.) Workplace Benefits
Five! MassMutual has been a key competitor in the life insurance, annuities, disability income insurance, long term care insurance, and workplace benefits markets.
300
You are at a Holiday Inn and are walking down the stairs when suddenly you trip over your own feet and tumble down the stairs. You are in shock at first but then your ankle starts killing you and the manager comes over and offers to call 911. Is the hotel automatically obligated to pay for your medical bills?
No. The hotel must be liable for your injuries or in other words, at fault. Perhaps there was a spill on the stairs and it was not cleaned up. In that case, they would be and you would also be entitled to pain and suffering. However, just falling on someone's property does not make them liable.
300
In which movie did Ben Stiller play a risk assesment expert, essentially performing the job of an underwriter. (A.) There's Something About Mary (B.) The Heartbreak Kid (C.) Flirting with Disaster (D.) Along Came Polly
Reuben Feffer (played by Ben Stiller) is a risk assessment expert, and though not explicitly stated, performs the job of an underwriter
300
How many quarts of ice cream does the average American eat? (A)6 (B)17 (C)20 (D)33
(C) 20 Quarts of Ice Cream - The highest per capita consumption in the world according to the International Dairy Foods Association.
300
*Double Bonus* From etymology, what occupation does the word “actuary” originate from?
Answer: In mid 16th century, originally denoting a clerk or registrar of a court. It derived from Latin actuarius 'bookkeeper', from actus ‘public business’. The current meaning dates from 1849
300
How many advisors make up MassMutual's Advisor force? (A.) 9,500 (B.) 10,500 (C.) 11,500 (D.) 12,500
A. 9,500
400
Who pays the claims if an insurance company went bankrupt? (A) State government (B) Federal government (C) National Insurance Office (D) Other insurance companies (E) Reinsurers
An assessment will be charged to all the insurer companies operating in the state by their market share based on written premium in that year. These costs are passed on to the customers indirectly. Reinsurers are only responsible for their share of losses.
400
Which science fiction action film features an Actuarial Program? (A.) Tron (B.) The Martian (C.) Star Trek (D.) Logan
Tron - Ram was an actuarial program who "worked for a big insurance company" before being captured by the MCP and forced to play on the Game Grid. While held captive, he met and befriended Tron, and accompanied him and Kevin Flynn on their escape from the Light Cycle Grid.
400
Lloyd's of London is an insurance market place for marine and other specialist types of insurance. It started out from a business run by Edward Iloyd which was a popular haunt of ship owners, merchants, and ships' captains. What business was it? (A) Bar (B) Book Club (C) Coffee House (D) Restaurant (E) Music Theater
The coffee house became the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures.
400
*Double Bonus*** What is the average salary for actuaries in 2010? (A) $87,620 (B) $92,620 (C) $95,620 (D) $98,620
According to the U.S. Bureau of Labor Statistics, the average salary for actuaries was $98,620 per year, as of May 2010
400
As westward expansion grew, fueled by excitement from the _________ ____ ____ (1848-1855) and railroad development, MassMutual agents began to sell high-premium insurance policies to railway and steamship workers, and prospectors.
The California Gold Rush
500
You go to "Burger King" and eat a value meal. Two hours later, you get really sick to your stomach and start vomiting. What is your best chance at holding "Burger King" accountable? (A) Go back and confront the manager on duty (B) Seek immediate medical attention (C) Call an attorney (D) Call the health department
B. These are all decent answers but the most important thing to do is seek medical attention so the doctors can figure out if it really food poisoning or not. If no one else at "Burger King" got sick, there is a good chance you have a bug or picked something up from your own kitchen. Most food poisoning like salmonella takes 24-48 hours to incubate. It is up to you to prove Burger King is liable.
500
Which horror movie includes a conversation about actuarial mathematics with a victim? (A.) Night of the Living Dead (B.) Saw VI (C.) Hannibal (D.) Poltergeist
William Easton is a health insurance executive who describes actuarial mathematics in a conversation with John Kramer
500
In which ancient civilization was the concept of insurance first mentioned in written law? (A) Babylon (B) China (C) Europe (D) India (E) Egyptian
The first written insurance policy appeared in ancient times on a Babylonian obelisk monument with the code of King Hammurabi carved into it. The "Hammurabi Code" was one of the first forms of written laws. These ancient laws offered basic insurance in that a debtor didn't have to pay back his loans if some personal catastrophe made it impossible (disability, death, flooding, etc.).
500
What is the last exam in CAS examination system?
Exam 9 Financial Risk and Rate of Return
500
In 2016, MassMutual acquired MetLife’s U.S. retail advisor force, but not their iconic mascot, the "Peanuts" character.
Snoopy
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