Insurance and Entrepreneurship Quiz

What is insurance?

• A process of saving money

• A method of financial protection against losses

• A form of government tax

• A type of investment

Which of the following is a type of insurance?

• Health insurance

• Life insurance

• Motor insurance

• All of the above

What is the person or company who provides insurance called?

• Insured

• Broker

• Underwriter

• Insurance company

What is the premium in insurance?

• A discount given to insured persons

• The amount paid by the insured to the insurer

• A loan taken by the insured

• The amount paid during claims

Which of the following is not an example of life insurance?

• Accident insurance

• Funeral insurance

• Health insurance

• Car insurance

Which of the following is a principle of insurance?

• Risk pooling

• Profit sharing

• Discounting

• Trading stocks

Which insurance is mainly designed to protect someone’s vehicle?

• Health insurance

• Motor insurance

• Life insurance

• Property insurance

Which of the following types of insurance is mandatory in many countries for all vehicle owners?

• Life insurance

• Health insurance

• Motor insurance

• Property insurance

What is the main purpose of insurance?

• To make money

• To provide financial protection from risk

• To collect taxes

• To invest in stocks

Which of these insurance types helps people when they are injured or sick?

• Health insurance

• Life insurance

• Fire insurance

• Travel insurance