Important Business Insurance Questions!

10 Questions | Total Attempts: 176

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Important Business Insurance Questions! - Quiz

Before you start a business, you need to know all about insurance. What to choose, what to do and all that. And if you know all this, then you should take this awesome quiz and test your knowledge with our questions.


Questions and Answers
  • 1. 
    What role does insurance play in financial planning?
    • A. 

      It guarantees that income and assets are protected 

    • B. 

      It helps build and maintain one's credit score

    • C. 

      It helps cover day-to-day expenses

    • D. 

      It grows in value and appreciates over time

  • 2. 
    A stone hits your windshield. Which type of coverage would likely cover this expense?
    • A. 

      Collision

    • B. 

      Liability

    • C. 

      None

    • D. 

      Comprehensive 

  • 3. 
    Which of the following wouldn't save you money on your auto insurance premium?
    • A. 

      Decrease your deductible 

    • B. 

      Reduce or eliminate optional insurance on an older vehicle

    • C. 

      Maintain a good credit history

    • D. 

      Bundle your insurance with other policies

  • 4. 
    A policy is a contract between the
    • A. 

      The policyholder and the injured person

    • B. 

      Driver and the government

    • C. 

      Consumer and the insurance company 

    • D. 

      Consumer and the insurance agent

  • 5. 
    Which of the following would be covered under a renter's insurance policy?
    • A. 

      Damage to the exterior of the property

    • B. 

      Medical bills of another person who is injured on the property 

    • C. 

      Your roommate's personal belongings in the rental unit

    • D. 

      Damage to a detached shed on the property

  • 6. 
    What information is not listed on an insurance policy?
    • A. 

      Name of person or property being insured

    • B. 

      Actual Cash Value of the property being insured 

    • C. 

      Deductible amounts

    • D. 

      The policy period

  • 7. 
    Which insurance coverage is required by law?
    • A. 

      Homeowners insurance

    • B. 

      Auto insurance 

    • C. 

      Health

    • D. 

      Disability insurance

  • 8. 
    Your health insurance copay is
    • A. 

      Amount paid out of pocket before your insurance coverage

    • B. 

      Paid by the insurer

    • C. 

      Applied on an annual basis

    • D. 

      A fixed amount of money you pay each time you use your plan 

  • 9. 
    This professional analyzes statistics and uses them to calculate risks and premiums.
    • A. 

      Agent

    • B. 

      Actuary 

    • C. 

      Claims Clerk

    • D. 

      Underwriter

  • 10. 
    What factor does not impact the cost of your auto insurance premium?
    • A. 

      Deductible amount

    • B. 

      The vehicle you are insuring

    • C. 

      Your credit score

    • D. 

      Your income 

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