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FL 6 Risk Management Quizizz

Total questions: 30

Worksheet time: 15mins

Name
Class
Date
1.
What statement is true about risk management?
a)
it is possible to get to zero risk
b)
Life will always involve some risk
c)
the best vibe is YoLo!
2.
Which options matches the following description? Provides a replacement or repair if a product fails.
a)
insurance
b)
warranty
c)
mutual fund
d)
equity
3.
Which is true about an extended warranty?
a)
a great value
b)
are required when purchasing a car
c)
usually comes for free
d)
are not usually a great value
4.
What should someone purchase insurance?
a)
Repair a damaged car.
b)
Repair a roof
c)
Pay for healthcare
d)
all of the above
5.
Jasper gets a scary email. It looks like it is from his bank claiming that his account was compromised. It asks him to send his social security number and account number. Fortunately he notices that the sender's email was just a little off and does not reply. What was he almost a victim of?
a)
phishing
b)
skimming
c)
social engineering
d)
dumpster diving
6.
Aimee has been talking to someone through an app for several months. They talk regularly and talk about meeting up some time. One day the person asks her to send money so that he can get his car fixed and finally be able to come visit. What is she almost a victim of?
a)
phishing
b)
skimming
c)
social engineering
d)
dumpster diving
7.
What should you do if you are contacted via via email, text, or phone by someone claiming to represent your financial institution and they request personal information?
a)
Provide only some of the information.
b)
Give as much as you can to stop any problems
c)
Contact the institution in a separate email or call.
d)
Ask to speak to their manager.
8.
Most common method of identity theft
a)
lost or stolen wallet
b)
stolen mail
c)
data breach
d)
password theft
9.
Which of the follow are examples of identity theft?
a)
opening accounts in your name
b)
unauthorized purchases
c)
fake tax returns
d)
fake id documents
e)
all of the above
10.
What are the impacts of identity theft?
a)
financial loss
b)
damage to credit score
c)
legal issues
d)
emotional pain
e)
all of the above
11.
What can you do to prevent phishing?
a)
Contact the institution directly if you are suspicious.
b)
Only provide account numbers
c)
Look at the name of the sender
d)
All of the above
12.
When signing into his bank account Bob Ross gets text message on his phone with a special code. What security feature is Bob using?
a)
phishing
b)
encryption
c)
two factor authentication
d)
social engineering
13.
What is/are features of a strong password?
a)
Used on a variety of websites
b)
Easy to remember
c)
Includes birthdays
d)
special characters (&^%$#)
e)
All of the above
14.
What best describes an insurance premium?
a)
payout when an accident happens
b)
money paid out after an accident
c)
what types of incidents an accident will cover
d)
maximum amount insurance will pay out
15.
Jeff's roof was damaged in a storm. He has insurance which covers most of the damage. However, he must pay $2500 of the damage. What is the $2500 known as?
a)
premium
b)
deductible
c)
limit
d)
range
16.
What is true about homeowners insurance?
a)
Everyone is required to have it.
b)
It only protects exteriors of homes (roofs, etc)
c)
required if you have a mortgage
17.
What is true about auto insurance?
a)
more expensive for women 16-25
b)
typically increases at age 25
c)
is unaffected by grades
d)
more expensive for men 16-25
18.
What is liability?
a)
Amount insurance companies are required to pay.
b)
What you have personal financial responsibility for
c)
Investment portfolio
19.
What is a co pay?
a)
payment due when having a doctor appointment.
b)
monthly payment due for insurance
c)
amount due when making a claim on insurance
d)
amount due when signing up for insurance
20.
What piece of legislation created a marketplace for insurance and prevented companies from denying coverage?
a)
Affordable Care Act
b)
National Insurance Act
c)
Health for All Act
d)
Universal Coverage Act
21.

What does diversification in investing mean?

a)

Investing all your money in one stock

b)

The interest calculated only on the original amount of money

c)

Spreading your money across different types of investments to reduce risk

d)

A reminder not to invest all your money in one place

22.

Insurance companies make money by...

a)

  1. Refusing to pay out claims to policyholders

b)

  1. Collecting money from the government

c)

  1. Collecting more in premiums than they need to pay out each year

d)

  1. Keeping costs low with minimal advertising

23.

You should have at least liability insurance on your car.

a)

True

b)

False

24.

If renting an apartment, you should take out a renter's insurance policy

a)

True

b)

False

25.

Recommended methods to protect yourself from identity theft and fraud include

a)

Placing a credit freeze with the credit bureaus.

b)

Monitoring your credit report every 2-3 years.

c)

Allowing inaccurate information to be removed from your report after 7 years.

d)

Utilizing a specialty locking or monitoring service.

26.
When you shop for insurance for your vehicle, you should:
a)
Only consider insurance companies that allow you to pay monthly premiums
b)
Not be concerned with different policy provisions since all insurance policies are the same by law
c)
Compare only the cost
d)
Get a full explanation of coverage and costs before you purchase
27.

What is a case were someone would need life insurance?

a)

If you have children who have graduated at least highschool

b)

If you have children over 12

c)

If you have young children

d)

If you have no children

28.

An electronic method of stealing a victim's credit card number and then using the information to make fraudulent purchases

a)

Phishing

b)

Fraud

c)

Skimming

d)

Scam

29.

What is the most likely outcome if someone steals your identity and open a credit card in your name?

a)

Your credit score will increase because credit is being used in your name.

b)

You will not be able to open a credit card because there is already one under your name.

c)

Your credit score will decrease because the identity thief isn't paying the credit card debt.

d)

You will be arrested for credit fraud.

30.

Which of the following will help you protect yourself from identity theft and fraud?

a)

Regularly monitor your credit report.

b)

Contact lenders and credit bureaus to address incorrect information.

c)

Freeze your credit.

d)

All of the above.

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