Unit 4 Insurance Test Review

Front

Getting insurance coverage for newly designed clothes that are expected to be in style is a(n) ____________ risk.

Back

Non Insurable

Front

Getting insurance coverage in case of illness is _______________ risk.

Back

Insurable

Front

If you eat healthy and sky dive for fun you are considered ______ risk.

Back

High

Front

What is Risk Pooling?

Back

A concept in insurance where individuals or organizations combine their resources (typically premiums) into a shared fund to cover the costs of losses or risks experienced by any member of the pool. This allows the financial burden of individual losses to be spread across a larger group, making costs more predictable and stable.

Front

If you choose to not light candles in your home, what type of risk option are you choosing?

Back

Avoid

Front

Wearing a helmet when batting during baseball is what type of risk option?

Back

Reduce

Front

Working part time due to a chronic illness means your income can be supplemented by ______________

Back

Disability Insurance

Front

If insurance has a premium that remains the same throughout the life of the policy it is called _________.

Back

Whole Life

Front

If you left your job and were unemployed for 45 days, what allows you to keep your health insurance coverage?

Back

COBRA

Front

When you have a home insurance policy you pay the premium___per year.

Back

Once