EPF Module 13 Review

What is the term for a contract in which an individual receives financial protection against losses from an insurance company?

• Deductible

• Premium

• Insurance

• Coverage

What is the specific sum of money paid by the insured to the insurance company in exchange for financial protection against loss?

• Benefit

• Premium

• Face Value

• Claim

What does 'deductible' refer to in an insurance policy?

• The amount you pay out of pocket before insurance covers the rest

• The amount paid by the insurance company for a claim

• The total coverage amount of the policy

• The premium paid monthly

What is a formal request made to an insurance company for payment for a loss called?

• Deductible

• Coverage

• Claim

• Premium

What is the term for the sum of money for which an insurance cover is obtained?

• Deductible

• Claim

• Face Value

• Premium

What is the term for a condition which does not allow a person to perform the duties of any occupation for payment as a result of injury or sickness?

• Temporary Disability

• Partial Disability

• Total Disability

• Permanent Disability

What is the term for money that is paid by a company when someone dies, becomes sick, or stops working?

• Premium

• Deductible

• Benefit

• Claim

What is the term for the time when services are covered under your plan and benefit limits build up?

• Coverage Period

• Premium Period

• Benefit Period

• Claim Period

What is the process of identification, analysis, and either acceptance or mitigation of uncertainty in investment decision-making called?

• Asset Management

• Financial Planning

• Insurance Planning

• Risk Management

What type of insurance provides liability and other coverage for the operation of a motor vehicle?

• Health Insurance

• Life Insurance

• Automobile Insurance

• Property Insurance