WorksheetsPop Quiz Chapter 3
Total questions: 10
Worksheet time: 5mins
What is risk?
the possibility of financial loss
the probability that increases the chances of a danger
What is insurance?
Insurance when policyholder give protection to the insurance company and get compensation
Insurance is a legal contract that transfers risk from a policyholder to an insurance provider
What types of life insurance provide lifelong protection, must pay premiums throughout life?
Whole life insurance
Endowment insurance
What types of life insurance provide protection plus saving?
Endowment insurance
Investment-linked insurance
What types of general insurance provide coverage of the content of the house, example: furniture?
House owner
House holder
Premium - payment paid by the policyholder to the insurance company.
True
False
Term insurance can be renewable?
Yes
Can not
Period covered for general insurance usually more than 1 year.
True
False
Takaful is insurance protection based on Shariah principles.
True
False
General insurance insures policyholder against premature death, illness, disability and hospitalization.
True
False
