WorksheetsInsurance Quiz Review
Total questions: 17
Worksheet time: 26mins
The fee, usually monthly, paid by the policyholder is called a ____.
Policy
Deductible
Premium
Face Amount
Which is true about risk and insurance?
The higher the risk, the higher your insurance deductible
The higher the risk, the lower your insurance deductible
The higher the risk, the higher your insurance premium
The lower the risk, the higher your insurance deductible
Which of the following can help reduce insurance costs?
Increase deductibles
Purchase Group Insurance
Look for Discount Opportunities
All of the Above
If a car was damaged in a flood, which type of car insurance would typically cover the damage to the car?
Universal
Term
Disability
Comprehensive
If Duncan’s car was damaged by a hit-and-run driver or a driver without insurance, how will the cost of damage be covered?
Term Life Insurance
Comprehensive Insurance
Uninsured Motorist Coverage
Duncan will have to pay
Which coverage pays for injuries and damages to OTHERS only?
Comprehensive
Collision
Personal Injury Protection
Liability
Which type of insurance coverage would pay for damage incurred from backing into a grocery cart in a parking lot.
Medical
Collision
Personal Injury Protection
Liability
By raising the deductible on car insurance coverage for collision from $200 to $400, the premium will be ______.
A lower amount
The same amount
A different amount each month
Billed monthly instead of annually
A method for spreading individual risk among a large group of people to make losses more affordable for all.
Insurance
Peril
Coverage
Actuary
Sums of money to be paid for specific types of losses under the terms of an insurance policy.
Cash Value
Peril
Liability
Benefits
A policyholder’s request for reimbursement for a loss under the terms of an insurance policy.
Claim
Cash value
Deductible
Exclusion
Protection provided by the terms of an insurance policy.
Coverage
Hazard
Peril
Standard policy
The specified amount of a loss that the policyholder pays before the insurer is obligated to pay anything. The insurance company pays only the amount in excess of the this thing.
Cash value
Coverage
Deductible
Exclusion
Specified losses that the insurance policy does not cover.
Exclusions
Deductible
Liability
Unearned Premium
A professional insurance salesperson who acts for the insurer in negotiating, servicing, or writing an insurance policy.
Actuary
Insurance agent
Beneficiary
Indemnifier
The person or company protected against loss by an insurance policy (not always the owner of the policy).
Insured
Claims adjustor
Actuary
Beneficiary
The legal responsibility to pay the cost of another person’s losses or injuries.
Liability
Deductible
Beneficiary
Standard policy
