Personal Finance: Insurance

Personal Finance: Insurance

Assessment

Flashcard

Business

9th - 12th Grade

Easy

Created by

Wayground Content

Used 2+ times

FREE Resource

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11 questions

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1.

FLASHCARD QUESTION

Front

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses

Back

Insurance

2.

FLASHCARD QUESTION

Front

The money paid to an insurance company to purchase a policy

Back

Premium

3.

FLASHCARD QUESTION

Front

The chance of loss from an event that cannot be entirely controlled

Back

Risk

4.

FLASHCARD QUESTION

Front

The out‐of‐pocket money paid by the policyholder before an insurance company will cover the remaining costs attributed to the loss.

Back

Deductible

5.

FLASHCARD QUESTION

Front

A contract between the insurance company and the insured that states the exact terms of the policy including what risks are covered and how much will be paid for any losses

Back

Policy

6.

FLASHCARD QUESTION

Front

Type of insurance for financial support after a family member's death in an accident.

Back

Life

7.

FLASHCARD QUESTION

Front

What type of insurance is used when Sally visits the doctor for strep throat?

Back

Health

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