Insurance / Risk Management Quiz

15 Questions | Total Attempts: 385

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Insurance / Risk Management Quiz - Quiz

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Questions and Answers
  • 1. 
    Define what Insurance is.... 
  • 2. 
    Which of the following is NOT an identified type of insurance? 
    • A. 

      Property

    • B. 

      Auto mobile

    • C. 

      Education

    • D. 

      Health

  • 3. 
    Homeowner's Insurance covers all EXCEPT?
    • A. 

      Theft and Vandalism coverage

    • B. 

      Party coverage

    • C. 

      Hurricane coverage

    • D. 

      Liability coverage

  • 4. 
    It is better to need and not have insurance !
    • A. 

      True

    • B. 

      False

  • 5. 
    To drive a vehicle in the state of Virginia, you MUST have of which of the following types of insurance? 
    • A. 

      Comprehensive

    • B. 

      Collision

    • C. 

      Uninsured Motorist

    • D. 

      Liability

  • 6. 
    If your claim for an accident is $400,000 and your insurance policy is worth $250,000 you are what is called_______________________ 
  • 7. 
    For automobile insurance...you pay all EXCEPT which of the following
    • A. 

      State inspection cost

    • B. 

      Deductible cost

    • C. 

      Premium cost

    • D. 

      Extended cost

  • 8. 
    Your finance history (credit report) can impact the rate or amount you pay for automobile insurance? 
    • A. 

      True

    • B. 

      False

  • 9. 
    Health Insurance will pay for _______________ expenses
  • 10. 
    Which of the following is NOT a form of long-term insurance?
    • A. 

      Disability

    • B. 

      Automobile

    • C. 

      Life

    • D. 

      Workers' Compesation

  • 11. 
    The main purpose of Disability Insurance is to______________
  • 12. 
    Life Insurance policies can be temporary or permanent?
    • A. 

      True

    • B. 

      False

  • 13. 
    What type of value would an insurer pay if your property becomes damaged, lost or stolen? 
    • A. 

      New value

    • B. 

      Premium value

    • C. 

      Reimbursement value

    • D. 

      Replacement value

  • 14. 
    What is NOT found within an insurance document?
    • A. 

      Declaration page

    • B. 

      Conditions page

    • C. 

      Payment page

    • D. 

      Endorsement page

  • 15. 
    My car has been vandalized (thief stole or damaged car) OR my home was damaged by a storm OR a family member was in the hosptial for surgery; before the insurance comapany will pay the bill I must submit a ________ 
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