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Terrorism Risk Insurance Exam 2026–2027
| Comprehensive Question Practice Test
with Answers & Rationales| Free Pdf
Access
1. The Terrorism Risk Insurance Act (TRIA) was originally enacted
in what year?
a) 1995
b) 2001
c) 2002
d) 2015
Answer: c) 2002
Rationale: TRIA was enacted on November 26, 2002, in
response to the insurance market disruption following the
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September 11, 2001 terrorist attacks, when insurers began
excluding terrorism coverage from commercial policies .
2. TRIA was created primarily to address what market problem?
a) Rising flood insurance claims
b) Unavailability of commercial terrorism insurance after 9/11
c) Lack of health insurance for terrorism victims
d) Excessive profits in the reinsurance market
Answer: b) Unavailability of commercial terrorism insurance
after 9/11
Rationale: After 9/11, most states allowed terrorism exclusions,
making coverage unavailable for commercial lending and real
estate transactions. TRIA created a federal reinsurance backstop
to stabilize the market .
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3. True or False: TRIA covers homeowners insurance policies for
terrorism losses.
Answer: False
Rationale: TRIA explicitly covers only commercial property and
casualty insurance lines. Personal lines such as homeowners and
private auto insurance are not covered, nor are health or life
insurance .
4. The federal backstop program created by TRIA is formally
known as:
a) Federal Emergency Terrorism Response Program
b) Terrorism Risk Insurance Program (TRIP)
c) Homeland Security Insurance Facility
d) National Terrorism Reinsurance Pool
Answer: b) Terrorism Risk Insurance Program (TRIP)
Rationale: The program is administered by the U.S. Department
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of Treasury and is commonly referred to as TRIP or the TRIA
program .
5. As of 2026, TRIA is currently set to expire on:
a) September 30, 2026
b) December 31, 2027
c) December 31, 2026
d) September 11, 2027
Answer: b) December 31, 2027
Rationale: The program was last reauthorized by the Terrorism
Risk Insurance Program Reauthorization Act of 2019 (TRIPRA),
extending it through December 31, 2027 .
6. How many times has TRIA been reauthorized since its original
enactment?
a) Two times
Terrorism Risk Insurance Exam 2026–2027
| Comprehensive Question Practice Test
with Answers & Rationales| Free Pdf
Access
1. The Terrorism Risk Insurance Act (TRIA) was originally enacted
in what year?
a) 1995
b) 2001
c) 2002
d) 2015
Answer: c) 2002
Rationale: TRIA was enacted on November 26, 2002, in
response to the insurance market disruption following the
,Page 2 of 38
September 11, 2001 terrorist attacks, when insurers began
excluding terrorism coverage from commercial policies .
2. TRIA was created primarily to address what market problem?
a) Rising flood insurance claims
b) Unavailability of commercial terrorism insurance after 9/11
c) Lack of health insurance for terrorism victims
d) Excessive profits in the reinsurance market
Answer: b) Unavailability of commercial terrorism insurance
after 9/11
Rationale: After 9/11, most states allowed terrorism exclusions,
making coverage unavailable for commercial lending and real
estate transactions. TRIA created a federal reinsurance backstop
to stabilize the market .
,Page 3 of 38
3. True or False: TRIA covers homeowners insurance policies for
terrorism losses.
Answer: False
Rationale: TRIA explicitly covers only commercial property and
casualty insurance lines. Personal lines such as homeowners and
private auto insurance are not covered, nor are health or life
insurance .
4. The federal backstop program created by TRIA is formally
known as:
a) Federal Emergency Terrorism Response Program
b) Terrorism Risk Insurance Program (TRIP)
c) Homeland Security Insurance Facility
d) National Terrorism Reinsurance Pool
Answer: b) Terrorism Risk Insurance Program (TRIP)
Rationale: The program is administered by the U.S. Department
, Page 4 of 38
of Treasury and is commonly referred to as TRIP or the TRIA
program .
5. As of 2026, TRIA is currently set to expire on:
a) September 30, 2026
b) December 31, 2027
c) December 31, 2026
d) September 11, 2027
Answer: b) December 31, 2027
Rationale: The program was last reauthorized by the Terrorism
Risk Insurance Program Reauthorization Act of 2019 (TRIPRA),
extending it through December 31, 2027 .
6. How many times has TRIA been reauthorized since its original
enactment?
a) Two times
