Can You Pass In Business Insurance Quiz?

10 Questions | Total Attempts: 224

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Can You Pass In Business Insurance Quiz? - Quiz

Business insurance coverage protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability, and employee-related risks. Test your knowledge on this by answering these questions.


Questions and Answers
  • 1. 
    What is Business Umbrella Liability Insurance?
    • A. 

      Insures your home 

    • B. 

      Insures your house and car

    • C. 

      Insures your life

    • D. 

      Provides extra layer security and supplementary coverage costs

  • 2. 
    What is the payment for an insurance policy called?
    • A. 

       Premium 

    • B. 

       Discount

    • C. 

       Loss

    • D. 

       Payment

  • 3. 
    A company which buys and sells insurance policies is called…
    • A. 

      Actuary 

    • B. 

       Brokerage 

    • C. 

       Risktaker

    • D. 

      Agent

  • 4. 
    What are the reductions in prices called?
    • A. 

      Losses 

    • B. 

       Rates

    • C. 

      Discounts

    • D. 

       Branches

  • 5. 
    What type of insurance covers almost everything?
    • A. 

       Life

    • B. 

       House

    • C. 

       Risk

    • D. 

      Comprehensive

  • 6. 
    When something damaged or stolen the policyholder suffers a…
    • A. 

       Loss

    • B. 

       Risk

    • C. 

       Discount

    • D. 

       Payment

  • 7. 
    What are prices called in the insurance industry?
    • A. 

       Losses

    • B. 

       Risks

    • C. 

       Discounts

    • D. 

       Rates 

  • 8. 
    The possibility of loss or damage that is covered by insurance is called…
    • A. 

       Risk 

    • B. 

       Loss

    • C. 

       Discount

    • D. 

      Premium

  • 9. 
    Who calculates the level of risk and determines the price of premiums in an insurance company?
    • A. 

       Actuary 

    • B. 

       Assessor

    • C. 

       Agent

    • D. 

       Adjuster

  • 10. 
    The guaranteed protection given by an insurance policy is called…
    • A. 

       Risk

    • B. 

      Cover

    • C. 

       Policy

    • D. 

       Insurance

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