Insurance Quiz

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.

• disability compensation insurance

• unemployment compensation insurance

• workers compensation insurance

• employee tort insurance

A request for payment for a loss is called ____________ .

• coverage

• loss

• peril

• claim

Which of these would NOT be considered a part of basic health insurance?

• medical

• hospital

• dental

• surgical

Seth and Anna recently married, and depend on each others' salary to make ends meet. Their financial planner told them they needed something in case of lost income, due to one of them passing away prematurely. What advice did the financial planner give them?

• They should purchase homeowners insurance.

• They should purchase health insurance.

• They should purchase life insurance.

• They should both get an extra job to guarantee salaries.

The fee paid by the policyholder is called a ____.

• face amount

• premium

• policy

• deductible

Which coverage pays for damage to your car from an auto accident when you are at fault?

• Comprehensive

• Collision

• Personal injury protection

• Liability

To ____ risk, you take measures to lessen the frequency or severity of losses that may occur.

• Avoid

• Reduce

• Shift

• Assume

Potential losses involving your income and standard of living are called ___________ risks.

• personal

• property

• liability

• individual

This is the amount you pay before your insurance begins to pay:

• Benefit

• Exclusion

• Premium

• Deductible

An insurance rider is:

• A person who rides in your car often

• Extra benefits added on to your insurance policy for a cost

• The cost of a monthly insurance premium

• The amount an insurance premium increase over one year