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Unit 15 Insurance Basics Module 156 Comprehension Check
Test Description: Unit 15 Insurance Basics Module 156 comprehension check
Instructions: Answer all questions to get your test result.
1) A strategy for protecting against the chance of loss is also called
A
of assets.
B
liability
C
risk management.
D
claim
2) High Deductible =
A
lower premiums
B
A deductible is the amount of money you pay before the insurer will pay a claim
C
Higher r premiums
D
All
3) An insurance policy is
A
a highly detailed legal contract
B
risk management.
C
automobile insurance.
D
of assets.
4) What type of insurance pays a set sum of money to survivors to help pay expenses and debts associated with the death of a person?
A
Renter Insurance
B
claim
C
liability
D
Life
5) The responsibility you have toward others who get injured while on your property or in your care is called
A
automobile insurance.
B
claim
C
Life
D
liability
6) After an accident or loss, a policyholder should submit a _____________ to receive funds from his/her insurance company.
A
claim
B
Policy
C
Life
D
liability
7) If someone is over-insured, this means that the person
A
a highly detailed legal contract.
B
automobile insurance.
C
overestimated the value of insurance he/she needs.
D
overestimated the value of insurance he/she needs
8) Most states legally require drivers to carry
A
risk management.
B
liability
C
W4- Must be filed before you start your job
D
automobile insurance.
9) Some of the benefits to having property insurance include a sense of responsibility, peace of mind, and protection
A
risk management.
B
Life
C
claim
D
of assets
10) Insurance works because lots of people think it is a good idea to insure their assets
A
Risk management
B
against risk of loss
C
Policies
D
claims
*select an answer for all questions
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