9 are limits placed on compensation for particular losses covered under an insurance contract. (a)exclusions (b)caps (c)deductibles (d)copayments Answer:(b) 10.Life insurance policies pay benefits if an insured party dies,but such policies do not pay death benefits if the insured person takes his or her own life.This is known as a(n): (a)exclusion (b)cap (c)deductible (d)copayment Answer:(a) 11. create incentives for insured parties to control their losses,and represent the amount of money the insured party must pay out of his or her own resources before receiving any compensation from the insurer. (a)exclusions (b)caps (c)deductibles (d)loan guarantees Answer:(c) 12. means that the insured party must cover a fraction of the loss. (a)exclusions (b)caps (c)copayments (d)loan guarantees Answer:(c) 11-311-3 9. ________ are limits placed on compensation for particular losses covered under an insurance contract. (a) exclusions (b) caps (c) deductibles (d) copayments Answer: (b) 10. Life insurance policies pay benefits if an insured party dies, but such policies do not pay death benefits if the insured person takes his or her own life. This is known as a(n): (a) exclusion (b) cap (c) deductible (d) copayment Answer: (a) 11. ________ create incentives for insured parties to control their losses, and represent the amount of money the insured party must pay out of his or her own resources before receiving any compensation from the insurer. (a) exclusions (b) caps (c) deductibles (d) loan guarantees Answer: (c) 12. ________ means that the insured party must cover a fraction of the loss. (a) exclusions (b) caps (c) copayments (d) loan guarantees Answer: (c)