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Insurance Unit Test

Authored by Stacy Morgan

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Used 3+ times

Insurance Unit Test
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27 questions

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1.

OPEN ENDED QUESTION

30 sec • Ungraded

Name:

Evaluate responses using AI:

OFF

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Insurance companies make money by...

Refusing to pay out claims to policyholders
Collecting money from the government
Collecting more in premiums than they need to pay out each year
Keeping costs low with minimal advertising

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Which is not a type of risk?

Economic and Non-Economic
Controllable and Uncontrollable
Pure and Speculative
Car Risk

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What are types of insurance?

auto, homeowners, health, and life
vehicle, home borrowers, medical
car, renters, health, the game of life

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Disability insurance

pays when you stay home for a day with a sore throat
is not recommended for young people
provides coverage for lost wages due to illness or injury.
all of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What are coverage limits?

Full coverage on your property
The amount covering you
no coverage
The maximum amount your insurance company will pay for a particular loss

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

An insurance deductible refers to

protecting the assets of individuals
liability of protection
amount consumer has to pay before insurance pays their part
amount paid to the insurance company for coverage

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