Risk Management & Insurance

You break your arm in a snowboarding accident. You require an emergency room visit and surgery to repair the damage.

• Long-term care insurance
• Health insurance
• Renters insurance
• Homeowners insurance

You are at fault in a car accident.  The other person requires medical treatment and car repairs as a result.

• Health insurance
• Homeowners insurance
• Liability insurance included in your auto policy
• Long term care insurance

Your uncle expresses concern about how your aunt will pay the bills in the event of his death.

• Life Insurance
• Long term Care Insurance
• Disability Insurance
• Health Insurance

Participating in insurance is BEST considered an example of risk __________ .

• Mitigation

• Transfer

• Acceptance

• Avoidance

The technique of assessing, minimizing, and preventing

accidental loss to a business, as through the use of insurance, safety measures, etc.

• accidental loss insurance

• business management

• risk management

• auto insurance

A formal request to an insurance company asking for a payment based on the terms of the insurance policy.

• Policy

• Claim

• Risk

• Premium

The total amount and type of insurance carried.

• Claim

• Deductible

• Coverage

• Insurer

The person, group, or property for which an insurance policy is issued. The condition of having insurance.

• Insured

• Insurer

• Homeowner

A stone hits your windshield. Which type of coverage would likely cover this expense?

• Collision

• Liability

• Comprehensive

• None

The amount paid for insurance is the

• closing cost
• premium
• deductible
• assessed value

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5