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BML 11-1
Test Description: Business maganagement and law, chapter 11, first set.
Instructions: Answer all questions to get your test result.
1) Business interruption insurance
A
covers property losses resulting from fire, storms, and theft.
B
provides payments to employees who can not work due to illness or injury.
C
provides compensation for ongoing business expenses that occur if a business has a temporary shutdown due to a fire, flood or
D
covers payments for cable television services if that service is stopped at your place of business.
2) A risk that relates harm or injury to other people or their property because of your actions is called
A
impersonal risk
B
liability risk
C
personal risk
D
property risk
3) The person or company buying an insurance policy.
A
insured
B
claimant
C
policyholder
D
agent
4) A policyholder's request for payment for a loss covered by an insurance policy is a
A
premium
B
claim
C
deductible
D
fraud
5) A risk that can result in damage to your own health or well-being is called
A
personal risk
B
impersonal risk
C
pure risk
D
impure risk
6) The person or company for which the insurer assumes the risk is the
A
insurer
B
lucky duck
C
beneficiary
D
insured
7) A risk that presents the chance for loss but no opportunity for gain is a
A
pure risk
B
liability risk
C
impure risk
D
speculative risk
8) The exclusive right to possess and use a property and its profits.
A
human rights
B
civil rights
C
natural rights
D
property rights
9) A risk that can lead to loss of items such as money, vehicles and buildings.
A
property risk
B
pure risk
C
bespectacled risk
D
speculative risk
10) The amount a policyholder pays for insurance coverage.
A
claim
B
premium
C
extortion
D
benefits
*select an answer for all questions
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