Insurance – Vocabulary Terms

Insurance – Vocabulary Terms

11th Grade

30 Qs

quiz-placeholder

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Insurance – Vocabulary Terms

Insurance – Vocabulary Terms

Assessment

Quiz

Financial Education

11th Grade

Hard

Created by

Nyshia Morris

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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Premiums in an insurance policy are:

The amount paid periodically to keep the policy active

The benefits received from the policy

The duration of the policy

The conditions under which the policy is void

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A deductible in an insurance policy is:

the amount you pay out of pocket before insurance covers the rest

the total amount covered by the insurance policy

the monthly premium paid for the insurance policy

the amount the insurance company pays you for a claim

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is a policyholder in an insurance policy?

The person who sells the insurance policy

The person who is covered by the insurance policy

The person who pays the premium for the insurance policy

The person who underwrites the insurance policy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A coverage limit in an insurance policy is:

the maximum amount an insurer will pay for a covered loss

the minimum amount an insurer will pay for a covered loss

the average amount an insurer will pay for a covered loss

the exact amount an insurer will pay for a covered loss

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Underwriting in the context of insurance is:

the process of evaluating the risk of insuring a home, car, driver, or individual's health or life.

the act of selling insurance policies to customers.

the process of filing a claim with an insurance company.

the act of paying out claims to policyholders.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Auto insurance covers:

only damages to your car

damages to your car and others' property

only theft of your car

only medical expenses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Health insurance covers:

only medical expenses

only dental expenses

both medical and dental expenses

none of the above

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