Cloze Test – Test 19

In the following passage, there are blanks, each of which has been numbered. Find out the appropriate word/phrase in each case.

Insurance is a means of protection from financial loss. It is a form of risk management primarily used to --21- against the risk of a contingent, uncertain loss.</br> An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction -22-the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be -23-to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.</br> The insured receives a contract, called the insurance policy, which -24-the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a -25- which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.

In the following passage, there are blanks, each of which has been numbered. Find out the appropriate word/phrase in each case.

Insurance is a means of protection from financial loss. It is a form of risk management primarily used to --21- against the risk of a contingent, uncertain loss.</br> An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction -22-the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be -23-to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.</br> The insured receives a contract, called the insurance policy, which -24-the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a -25- which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.

In the following passage, there are blanks, each of which has been numbered. Find out the appropriate word/phrase in each case.

Insurance is a means of protection from financial loss. It is a form of risk management primarily used to --21- against the risk of a contingent, uncertain loss.</br> An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction -22-the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be -23-to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.</br> The insured receives a contract, called the insurance policy, which -24-the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a -25- which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.