INSURANCE

Use what you have learned about managing risk to complete the following statements.

Smart phones are very expensive. You can purchase a protection plan that lets you___________ risk with the phone carrier.

• accept

• share

• reduce

Use what you have learned about managing risk to complete the following statements.

Choosing to buy a case for your phone and being careful are ways to_____________ risk.

• avoid

• accept

• reduce

Purchasing insurance can help Adrian __________ risk.

• avoid

• minimize

• maximize

Adrian’s best decision in this case is to__________________because the policy is ______________________.

• not buy the insurance, too expensive in relation to the value of his vehicle

• buy the insurance, a good value for the protection it provides.

Choose the best word or phrase to complete each sentence.

_______________is a financial service that offers a kind of _________________ in the event of unforeseen damage, injury, or cost.

• Insurance, protection

• premium, deductible

• deductible, cost

Choose the best word or phrase to complete each sentence.

_________________ is the cost of a type of insurance that is paid at regular intervals.

• A compensation

• deductible

• premium

Is the following a cost or benefit of owning insurance?

copayments

• costs

• benefits

Is the following a cost or benefit of owning insurance?

premiums

• costs

• benefits

Is the following a cost or benefit of owning insurance?

risk management

• costs

• benefits

Is the following a cost or benefit of owning insurance?

deductibles

• costs

• benefits