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WorksheetsInsurance Concepts
Total questions: 10
Worksheet time: 5mins
What is a risk?
Possibility of Financial Loss.
Event that causes a loss to an asset.
Which of the following are the perils in Life Insurance?
Death
Sickness
Accident
Fire
Sitaram loves to go on long drives in his car. One day, he was late to a wedding function. In the rush to reach the wedding destination, he decided to drive at high speed but met with an accident. Which of the following is a hazard?
Drivng the car
Meeting with an accident
Driving at a high speed
Deepak invested in stock market. It is a ..............................risk.
pure
speculative
Insurance does not cover speculative risks. Identify if the statement is true or false.
True
False
Having fire extinguishers and water sprinklers installed and maintained in a factory is an example of which risk management strategy?
Risk Control
Risk Avoidance
Risk Transfer
Which of the following is an example of risk avoidance?
Wearing a helmet while riding a bike
Not purchasing a bike
Riding the bike within specified speed limits
Buying a life insurance policy is an example of risk.........................
avoidance
retention
transfer
Minal purchased a car. As the years pass, the value of the car will depreciate, thus making it a pure risk. Is this risk insurable?
No
Yes
Emotional loss due to the death of a person can be insured. Indentify if the statement is true or false.
True
False
