
Insurance Quiz

Quiz
•
Business
•
8th Grade
•
Medium
Arinze Uche
Used 2+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three main types of insurance?
Accident insurance, liability insurance, and disability insurance
Life insurance, health insurance, and property insurance
Flood insurance, earthquake insurance, and fire insurance
Car insurance, travel insurance, and pet insurance
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the difference between life insurance and health insurance.
Life insurance only covers the insured's medical expenses, while health insurance provides a lump sum payment to beneficiaries upon the insured's death.
Life insurance is only for young people, while health insurance is for older individuals.
Life insurance provides a lump sum payment to beneficiaries upon the insured's death, while health insurance covers medical expenses and treatments for illnesses and injuries.
Life insurance covers medical expenses and treatments for illnesses and injuries, while health insurance provides a lump sum payment to beneficiaries upon the insured's death.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is property insurance and what does it cover?
Property insurance covers damage to clothing and accessories.
Property insurance covers damage to cars and vehicles.
Property insurance covers damage to buildings, structures, and personal belongings.
Property insurance covers damage to electronic devices and appliances.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is liability insurance and why is it important?
Liability insurance is only important for large businesses
Liability insurance is not necessary if you have a good lawyer
Liability insurance is for protecting against car theft
Liability insurance provides financial protection for a business or individual in case they are held liable for damages or injuries to another person or property. It is important because it helps protect against costly legal claims and judgments.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are insurance premiums calculated?
Based on the weather forecast
By flipping a coin
Determined by the number of pets owned
Based on factors such as age, gender, health condition, occupation, and coverage needed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What factors can affect the cost of insurance premiums?
Favorite color, favorite food, favorite movie
Number of pets, favorite sports team, shoe size
Hair color, eye color, height
Age, gender, location, driving record, type of vehicle, and coverage limits
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a deductible in an insurance policy?
To reduce the risk for the insurance company
To increase the cost of the insurance policy
To encourage frequent claims
To share the risk between the policyholder and the insurance company, and to prevent small or frequent claims.
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