Insurance Concepts

Insurance Concepts

Professional Development

10 Qs

quiz-placeholder

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Insurance Concepts

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Assessment

Quiz

Other

Professional Development

Hard

Used 37+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a risk?

Possibility of Financial Loss.

Event that causes a loss to an asset.

2.

MULTIPLE SELECT QUESTION

45 sec • 5 pts

Which of the following are the perils in Life Insurance?

Death

Sickness

Accident

Fire

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Sitaram loves to go on long drives in his car. One day, he was late to a wedding function. In the rush to reach the wedding destination, he decided to drive at high speed but met with an accident. Which of the following is a hazard?

Drivng the car

Meeting with an accident

Driving at a high speed

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Deepak invested in stock market. It is a ..............................risk.

pure

speculative

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Insurance does not cover speculative risks. Identify if the statement is true or false.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Having fire extinguishers and water sprinklers installed and maintained in a factory is an example of which risk management strategy?

Risk Control

Risk Avoidance

Risk Transfer

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following is an example of risk avoidance?

Wearing a helmet while riding a bike

Not purchasing a bike

Riding the bike within specified speed limits

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