
Insurance and Entrepreneurship Quiz
Quiz
•
Business
•
8th Grade
•
Practice Problem
•
Easy
Babatunde folorunso
Used 1+ times
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is keyboarding?
Watching videos on a computer
Typing information into a computer using a keyboard
Drawing on a screen
Playing games on a computer
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best explains utmost good faith in insurance?
Only the insurer tells the truth
Both parties must disclose all material facts truthfully
The insured must not question the insurer
The claim must be paid immediately
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the principle of indemnity ensure?
The insured receives profit
The insured gets full market value
The insured is returned to the financial position before the loss
The insured gets a new item
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which principle does the insurer gain the right to act on behalf of the insured after paying compensation?
Indemnity
Subrogation
Risk pooling
Disclosure
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is insurable interest important in insurance?
It increases premium
It ensures only people with a financial stake can insure a property
It avoids multiple claims
It allows for policy cancellation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is indemnity used in most insurance policies?
To reward the insured
To increase the value of loss
To prevent the insured from gaining or losing financially
To calculate risk
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If someone lies on an insurance application, which principle is being violated?
Subrogation
Insurable interest
Utmost good faith
Risk assessment
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