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Insurance Quiz

Authored by Lebogang Oliphant

Business

11th Grade

Used 1+ times

Insurance Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What type of insurance covers risks that might happen and usually lasts for a specific period?

Short-term Insurance

Health Insurance

Long-term Insurance

Life Insurance

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is an example of short-term insurance?

Life insurance

Retirement annuity

Funeral cover

Car insurance

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What does long-term insurance primarily cover?

Accidents

Damage to property

Death or retirement

Theft

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the purpose of indemnity in insurance?

To provide security

To compensate for actual loss

To ensure honesty

To cover future risks

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which principle of insurance requires both parties to be honest?

Insurable Interest

Utmost Good Faith

Security

Indemnity

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What does the term 'insurable interest' mean?

You can insure your neighbor's property

You can insure items without any connection

You can only insure something that will cost you money if lost

You can insure anything you want

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the main benefit of insurance for businesses?

More customers

Higher employee salaries

Financial protection against risks

Increased profits

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