The chance of loss from an event that cannot be entirely controlled is called:

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Quiz
•
Business
•
10th - 12th Grade
•
Easy

ladonza federowski
Used 1+ times
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12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
risk
insurance
deductible
premium
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At least six months of expenses set aside to cover costs of unexpected expenses is called
insurance
emergency savings
policy
coverage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A financial product purchased by many people facing a similar risk to protect against the risk of larger losses is called:
insurance
emergency savings
policy
premium
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A contract between the insurance company and the insured that states the exact terms of the policy is called:
policy
premium
insurance
risk
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The risks covered and amount of money paid for losses under an insurance policy is called:
coverage
premium
policy
deductible
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The person who owns the insurance policy is the:
beneficiary
policy holder
insurance
claim
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money paid to purchase an insurance policy is called:
premium
deductible
co-insurance
risk
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