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WorksheetsTopic 7 Insurance
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
What is insurance?
a)
A payment to protect you against something bad happening
b)
a pension for old people
c)
an investment in a company
2.
Give an example of COMPULSORY Insurance.
a)
Car
b)
Travel
c)
Health
d)
Pet
3.
Insurance brokers:
a)
Find the best insurance deals for you.
b)
Sell their own type of insurance door to door
c)
Are PPI
d)
Ask you to use the internet to compare
4.
The difference between insurance and assurance is:
a)
Assurance WILL happen
b)
Assurance WILL NOT happen
c)
Insurance WILL happen
d)
Insurance WILL NOT happen
5.
Bob buys an insurance policy against his house catching fire. What is the payment called to the insurance company?
a)
Premium
b)
Payment
c)
Policy
d)
Price
6.
Insurance providers can be:
a)
Banks, building societies
b)
Supermarkets
c)
Motoring organisations - AA and RAC
d)
Insurance companies like Aviva, Direct Line, Churchill
e)
Garages
7.
What does indemnity mean?
a)
You can't make a profit out of insurance
b)
You can make a profit out of insurance
8.
What is IPT
a)
Insurance Premium Tax
b)
Indemnity Premium Tax
c)
Investment Premium Tax
9.
An example of something that would NOT be insured is:
a)
Winning the national lottery
b)
Theft
c)
House fire
d)
Accident on holiday
e)
Pet operation and visits to the vets
10.
What is a material fact?
a)
An important piece of information that should be shared with the insurance company, like you have a terminal illness.
b)
Information that you don't have to share with the insurance company when they are assessing the risk.
11.
Which of the following should you tell your insurer?
a)
You have speeding points
b)
You have a medical condition
c)
You live next door to a firework factory.
d)
You leave your car on the street.
e)
You don't like Brussel Sprouts
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