Insurance Quiz

Wearing a seat belt, not texting and driving, and driving carefully are all examples of

• Insurance policies

• Warranties

• Risk management strategies

• deductibles

Which of the following is NOT an examples of a risk management strategy?

• Wearing reflective clothing while bike riding at night

• Buying a new car

• Wearing a helmet while biking

• Wearing a seat belt while driving

What should you NOT use a loan to purchase?

• house

• tuition for higher education

• Airline tickets for your dream vacation

• car

Buying a home security system is an example of protecting your home against...

• deductbles

• risk

• warranties

• insurance

How is having a home security system a risk management strategy?

• The security system will allow you to keep your doors unlocked.

• The security system will alert authorities and deter criminals, protecting your valuables and property

• The security system will give you peace of mind

• The security system will let you know when visitors knock on your door.

Something people buy to protect themselves from losing a lot of money in the event that something happens to them or their property is known as...

• risk management

• liability

• warranty

• insurance

When filing an insurance claim, the policyholder must pay a _________, which is the amount you owe before insurance will cover the rest of the bill.

• Deductible

• premium

• contract fee

A deductible is paid by

• the insurance company

• the policyholder

• the claims adjuster

• the government

an insurance premium is

• the amount of money you pay for an insurance policy

• A commission paid to the agency for the purchase of a policy

• an extra fee you need to pay your insurance for filing a claim out of network

Insurance that will pay for injury to another driver and/or damage to their car if you are in an accident is called...

• comprehensive insurance

• liability insurance

• collision insurance

• uninsured motorist insurance