Which term describes the scope of protection provided under an insurance policy? Options: Coverage, Premium, Deductible, Risk

Insurance Basics: Overview Flashcard

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Financial Education
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12th Grade
•
Hard
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10 questions
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1.
FLASHCARD QUESTION
Front
Back
Coverage
2.
FLASHCARD QUESTION
Front
Which term describes the fee the policyholder pays to the insurance company in order to be insured for a defined period of time?
Back
Premium
3.
FLASHCARD QUESTION
Front
Which term describes the portion of a claim the policyholder must pay before the insurance company provides the benefits? Options: Coverage, Policy, Premium, Deductible
Back
Deductible
4.
FLASHCARD QUESTION
Front
Which of the following types of risks are completely accidental and unintentional? Hazards, Negligence, Pure risks, Speculative risks
Back
Pure risks
5.
FLASHCARD QUESTION
Front
Which of the following types of risks carry a chance of either loss or gain? Negligence, Pure risks, Hazards, Speculative risks
Back
Speculative risks
6.
FLASHCARD QUESTION
Front
Which of the following is NOT an important factor when setting insurance goals? Income, Age, Personality, Lifestyle
Back
Personality
7.
FLASHCARD QUESTION
Front
Which of the following is NOT an important factor when choosing an insurance company? Licensing, Price, Financial solidity, Location
Back
Location
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