Financial Literacy Ch 6 Vocabulary Review
Authored by Monica Simanella
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31 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The chance of injury, damage, or economic loss.
risk
loss
probability
premium
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A physical injury, damage to property, or disappearance of property or other assets.
risk
loss
probability
premium
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The likelihood of a risk resulting in a loss.
risk
loss
probability
premium
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price you pay for insurance coverage.
risk
loss
probability
premium
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of identifying risks and deciding how serious they are.
risk assessment
risk reduction
risk avoidance
risk transfer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Finding ways to lower your chance of incurring a loss.
risk assessment
risk reduction
risk avoidance
risk transfer
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Stopping behavior that leads to a risk.
risk assessment
risk reduction
risk avoidance
risk transfer
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