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Insurance

Total questions: 20

Worksheet time: 12mins

Name
Class
Date
1.
John's father passed away. What type of insurance will provide his family with financial support?
a)
health
b)
life
c)
auto
d)
unemployment
2.
The purpose of insurance is to completely transfer risk to other people.
a)
TRUE
b)
FALSE
3.
This type of insurance pays the fees of other doctors who see you in or out of the hospital.
a)
hospitalization insurance
b)
disability insurance
c)
medical insurance
d)
life insurance
4.
The type of insurance that provides protection against financial loss from medical bills is called
a)
health insurance
b)
coinsurance
c)
life insurance
d)
premium
5.
Insurance that protects your family against financial loss due to your death is
a)
coinsurance
b)
disability insurance
c)
life insurance
d)
comprehensive insurance
6.

the type of insurance policy that covers against motor vehicle is called?

a)

marine insurance

b)

aviation insurance

c)

lorry insurance

d)

motor vehicle insurance

7.

insurance is good for business men and women

a)

yes

b)

no

c)

maybe

d)

i dont know

8.

An agreement between the insurance company and its customer can be found in?

a)

cover note

b)

proposal

c)

insurance policy

d)

premium

9.

A person who is insured by an insurance company is called?

a)

insured

b)

insurer

c)

businessman

d)

broker

10.

An insurance company can be called?

a)

insured

b)

insurer

c)

customer

d)

supplier

11.

Which of the following insurance policy covers human beings and not properties?

a)

fire insurance

b)

marine insurance

c)

life assurance

d)

buglary insurance

12.

Which of the following can not be insured agaist?

a)

fire

b)

mismanagement of fund

c)

buglary

d)

marine

13.
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
14.

A policy is a contract between the

a)

Policyholder and the injured person

b)

Driver and the government

c)

Consumer and the insurance company

d)

Consumer and the insurance agent

15.
This term pays for protection against loss of life, property, and finances.
a)
collision
b)
premium
c)
insurance
d)
deductible
16.

Which of the following is a key principle of insurance that ensures the insured receives fair compensation for their loss?

a)

Principle of Indemnity

b)

Principle of Subrogation

c)

Principle of Utmost Good Faith

d)

Principle of Insurable Interest

17.

An insurance contract in which the insurer agrees to compensate the insured in the event of a covered loss is called a:

a)

Premium

b)

Policy

c)

Assurance

d)

Deductible

18.

The person or entity whose life or property is covered by an insurance policy is known as the:

a)

Insured

b)

Beneficiary

c)

Assured

d)

Underwriter

19.

An insured is _______

a)

Insurance Company

b)

Individual entity having insurance policy

c)

Subrogation

20.

Indemnity means

a)

Composition

b)

Complementary

c)

Comprehensive

d)

Compensation