Test Your Business Insurance Knowledge In This Quiz!

12 Questions | Total Attempts: 272

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Test Your Business Insurance Knowledge In This Quiz! - Quiz


Questions and Answers
  • 1. 
    What is a Rider?
    • A. 

      A biker

    • B. 

      A cowboy

    • C. 

      An addtional clause to an amendment or a legal document

    • D. 

      A type of book

    • E. 

      A really cool amp

  • 2. 
    This insurance protects against financial loss from a defect product that causes bodily harm or death
    • A. 

      Rider

    • B. 

      Product Liability

    • C. 

      General Liability

    • D. 

      Commercial Property

    • E. 

      Home- Based Business

  • 3. 
    How much product liability should you purchase?
    • A. 

      Should be based on the amount you produce in your company

    • B. 

      Should be based on the amount of people in your company

    • C. 

      Should be based on the amount of machines in your company

    • D. 

      Should be based on your income

    • E. 

      Should be base on how much money you oay your employees

  • 4. 
    What is another word for "Professional Liability Insurance"?
    • A. 

      Hit and run insurance

    • B. 

      Home-Based Business Insurance

    • C. 

      Fun Insurance

    • D. 

      Commercial Property Insurance

    • E. 

      Errors and omissions insurance

  • 5. 
    Which best defines Commercial Property?
    • A. 

      Covers everything related to cars

    • B. 

      Covers everything related to people

    • C. 

      Covers everything related to the loss and damage of company property

    • D. 

      Covers everything related to loss of employment in the company

    • E. 

      None of the above

  • 6. 
    How many forms does property insurance policies come in?
    • A. 

      10

    • B. 

      8

    • C. 

      6

    • D. 

      4

    • E. 

      2

  • 7. 
    What does Home-Based Insurance cover?
    • A. 

      Cover property damage

    • B. 

      Cover homes

    • C. 

      Covers property damage and homes

    • D. 

      Covers the people that live in a home

    • E. 

      None of the above

  • 8. 
    What does General Liability Cover?
    • A. 

      Covers legal issues such as accident, injuries claims of negligence

    • B. 

      Covers to protect things like bodily harm, property damage, medical expenses, libel, cost of defending lawsuits, and settlements

    • C. 

      Covers things that are general

    • D. 

      None of the above

    • E. 

      Both A&B

  • 9. 
    Business Insurance covers how much of an employee's salary?
    • A. 

      20%

    • B. 

      30%

    • C. 

      60%

    • D. 

      50%

    • E. 

      45%

  • 10. 
    What school are we at?
    • A. 

      GHS

    • B. 

      EHHS

    • C. 

      JHS

    • D. 

      SHMS

    • E. 

      None of the above

  • 11. 
     How can business insurance be cancelled?
    • A. 

      Say you don't want it anymore

    • B. 

      It depends on your policy coverage, claim history, loss type, and the length of time you have been insured

    • C. 

      It depends on the amount of money you have

    • D. 

      It can't be cancelled

    • E. 

      None of the above

  • 12. 
    What is Business Umbrella Liability Insurance?
    • A. 

      Provides life insurance

    • B. 

      Provides you with house and car insurance

    • C. 

      Provides House Insurance

    • D. 

      Provides car safety

    • E. 

      Provides extra layer security and supplementary coverage costs

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