Chapter 14 & 15

Chapter 14 & 15

11th Grade

18 Qs

quiz-placeholder

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Chapter 14 & 15

Chapter 14 & 15

Assessment

Quiz

Business

11th Grade

Medium

Used 3+ times

FREE Resource

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of risk?

The potential for growth and development

The likelihood of success and prosperity

The possibility of gain, benefit, or advantage

The possibility of loss, damage, or injury

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of risk is caused by acts of nature?

Natural risk

Neutral risk

Economic risk

Market risk

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the process of evaluating the risk and finding ways to minimize or manage loss called?

Insurance assessment

Liability avoidance

Risk management

Risk allowance

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the document that defines the type of losses covered by an insurance policy?

Insurance deductible

Insurance claim

Insurance policy

Insurance premium

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the amount the insured is responsible for paying when a claim is made?

Insurance claim

Insurance premium

Insurance policy

Insurance deductible

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the exchange of one good or service for another called?

Barter

Trade-off

Banknote

Money exchange

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are properties of money?

Portable

Durable

Recognizable

All of the above

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