Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. Test your knowledge on this quiz by answering the following questions.
It guarantees that income and assets are protected ✓
It helps build and maintain one's credit score
It helps cover day-to-day expenses
It grows in value and appreciates over time
Actual Cash Value
Absolute Liability
Replacement Cost
Apparent Authority
Personal Umbrella
Dwelling Fire
Homeowners
Renters
Executive Board
Stockholders
Insureds
Reciprocals
Speculative Risk
Pure Risk
Loss
Exposure
Liability and Property of Others
Liability and Loss of Life
Physical Damage and Property of Others
Physical Damage and Liability
Fireman's Fund
Geico
Progressive
Lloyd's of London
Exclusions
Declarations
Agreements
Definitions
Loss Sustained Condition
Loss Ratio
Loss Provisions
Loss Conditions
Conditional Contract
Fidelity Bond
Certificate of Insurance
Claims-Made Form