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WorksheetsInsurance
Total questions: 14
Worksheet time: 9mins
Name
Class
Date
1.
The amount paid for insurance is the
a)
closing cost
b)
premium
c)
deductible
d)
assessed value
2.
Someone who receives money if an insured person dies
a)
claim
b)
beneficiary
c)
dependent
d)
employee benefits
3.
Your house is destroyed by a tornado and you need to rebuild it.
a)
Homeowners Insurance
b)
Renters Insurance
c)
Life Insurance
d)
Liability Insurance
4.
You fall off your bike and sprain your wrist.
a)
Disability Insurance
b)
Automobile Insurance
c)
Health Insurance
d)
Life Insurance
5.
You have a $20 copay every time you go to the doctor. You have a $250 deductible, and a $1000 annual premium for health care. How much money do you have to pay out of pocket before insurance kicks in?
a)
$20
b)
$100
c)
$250
d)
$1000
6.
Why is it important to have insurance?
a)
To protect others from your mistakes
b)
To protect your assets from claims by others
c)
Guard against financial loss that can not be predicted
d)
All of the above
7.
What is the purpose of insurance?
a)
To prevent bad things from ever happening
b)
To help you get better when you are sick
c)
To manage risks by sharing them with other members of insurance companies
d)
To help you refinance your loabs
8.
If you have a $500 deductible on your car insurance and you have a wreck that causes $4,000 in damage to your car, how much will the insurance company pay?
a)
$4,500
b)
$4,000
c)
$3,500
d)
$5,000
9.
The out of pocket cost to the insured when a loss occurs is called:
a)
Premium
b)
Deductible
10.
You have a $2,000 loss. Your insurance company pays you $1,500 on the claim for the loss. The $500 the insurance did not pay is a result of your policy having a:
a)
Co-insurance clause
b)
Deductible
c)
Hazard clause
d)
Premium
11.
This term pays for protection against loss of life, property, and finances.
a)
collision
b)
premium
c)
insurance
d)
deductible
12.
This insurance is required by law on the road
a)
Auto
b)
Auto Property
c)
Auto Liability
d)
Long-Term Care
13.
Contract between the person and insurance company
a)
Policy
b)
Policy holder
c)
Premium
d)
Risk
14.
Chance of loss
a)
Policy
b)
Policy holder
c)
Premium
d)
Risk
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