
Insurance – Vocabulary Terms
Quiz
•
Financial Education
•
11th Grade
•
Hard
Nyshia Morris
FREE Resource
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30 questions
Show all answers
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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