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Authored by ladonza federowski

Business

10th - 12th Grade

Used 1+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

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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