Financial Literacy - Quiz 5

What is the primary objective of Vehicle Insurance?

• To guard businesses from cyber-attacks

• To provide protection against legal liability and accidental damage

• To cover personal accidents

• To provide cover for home building and contents

What is the purpose of Export Credit Insurance by ECGC?

• To protect exporters against the risk of non-payment by foreign buyers

• To provide life insurance cover to bank account holders

• To guard businesses from cyber-attacks

• To cover health care facilities for poor families

What is the minimum age requirement to join Atal Pension Yojana (APY)?

• 60 years

• 50 years

• 30 years

• 18 years

What is the purpose of National Pension System (NPS)?

• To guard businesses from cyber-attacks

• To provide cover for home building and contents

• To cover personal accidents

• To provide financial security during old age

What is the benefit of joining Atal Pension Yojana (APY) at an early age?

• No contribution required

• Higher contribution for lower pension

• No pension received

• Lower contribution for higher pension

What is the purpose of Cyber Insurance?

• To provide cover for home building and contents

• To provide financial security during old age

• To protect exporters against the risk of non-payment by foreign buyers

• To guard businesses from the potential effects of cyber-attacks

What is the coverage provided by Health Insurance plans?

• Cover for home building and contents

• Costs of hospitalization or fixed sum insured on diagnosis of critical illnesses

• Protection against legal liability and accidental damage

• Cover for personal accidents

What is the purpose of Group Insurance?

• To provide financial security during old age

• To provide coverage against the same risks to all members of a group

• To cover personal accidents

• To guard businesses from the potential effects of cyber-attacks

What is the benefit of Trade Credit Insurance?

• Provides health care facilities for poor families

• Protects businesses against the risk of non-payment for goods and services by buyers

• Provides accidental insurance cover to bank account holders

• Guarantees minimum pension after the age of 60 years

What is the purpose of Home Insurance?

• To provide financial security during old age

• To protect exporters against the risk of non-payment by foreign buyers

• To guard businesses from the potential effects of cyber-attacks

• Provides cover for home building and contents