Insurance Systems Quiz

How does insurance work?

• By concentrating risk among a few people

• By spreading the risk of financial loss among many people

• By eliminating all risks

• By increasing the risk for everyone

When you ask the insurance company to help pay for a covered loss, what are you making?

• Benefit

• Deductible

• Claim

• Premium

Which of the following is a type of insurance that covers vehicles?

• Health Insurance

• Auto Insurance

• Life Insurance

• Disability Insurance

What type of insurance is specifically designed to cover medical expenses?

• Travel Insurance

• Housing Insurance

• Health Insurance

• Long-Term Care Insurance

Which insurance type provides financial protection for your home?

• Auto Insurance

• Housing Insurance

• Life Insurance

• Travel Insurance

What type of insurance provides income in the event you are unable to work due to a disability?

• Disability Insurance

• Travel Insurance

• Housing Insurance

• Auto Insurance

What is another name for the Affordable Care Act?

• Medicare

• Medicaid

• ObamaCare

• HealthCare Plus

Which government passed the Affordable Care Act?

• Canadian government

• U.K. government

• U.S. government

• Australian government

Who is eligible for Medicare?

• Children from low-income families

• People who are 65 and older or have certain disabilities

• Active military members

• Families earning too much for Medicaid

Who benefits from Tricare?

• Low-income families

• People over 65 years old

• Active military members, their families, and retired veterans

• Children from wealthy families