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Types of Insurance

Types of Insurance

Assessment

Flashcard

Business

10th - 12th Grade

Practice Problem

Hard

Created by

Tay Bassett

FREE Resource

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18 questions

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1.

FLASHCARD QUESTION

Front

The chance of loss from an event that cannot be entirely controlled is called:

Back

risk

2.

FLASHCARD QUESTION

Front

At least six months of expenses set aside to cover costs of unexpected expenses is called

Back

emergency savings

3.

FLASHCARD QUESTION

Front

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses is called:

Back

insurance

4.

FLASHCARD QUESTION

Front

A contract between the insurance company and the insured that states the exact terms of the policy is called:

Back

policy

5.

FLASHCARD QUESTION

Front

The risks covered and amount of money paid for losses under an insurance policy is called:

Back

coverage

6.

FLASHCARD QUESTION

Front

The person who owns the insurance policy is the:

Back

policy holder

7.

FLASHCARD QUESTION

Front

The money paid to purchase an insurance policy is called:

Back

premium

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