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Households & Businesses Insurance & Tax Flashcards | StudBud
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Households & Businesses Insurance & Tax
Households & Businesses Insurance & Tax
32 terms
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1
insurance against dishonesty or fraud by employeeagainst the firm is?
Fidelity guarantee insurance
Robbing insurance
Dishonesty insurance
2
How many tax rates are there for PAYE workers?
4
2
3
1
3
the state agency responsible forcollecting taxes on behalf of the Government is?
Revenue
PAYE
Bord failte
Enterprise Ireland
4
is given by all employers tostaff whenthey leave a job is?
P12
P60
P16
P45
5
Give an example of a type of a type of insurance the school should have for Mr Hobbs?
Public liability
Employer liability
Motor insurance
Key person
6
USC stands for?
Universal Social Charge
University South Chicago
Universally Selected Chaps
Ultimate Shite Club
7
Tax on goods & services is known as?
USC
PRSI
VAT
PAYE
8
an allowancefrom the govt that reduces the amount of tax owed is?
Tax Credit
Tax rebate
Tax allowance
Tax back
9
shows the amount of pay, incometax & PRSI paid by an employee for the tax year
P16
P12
P45
P60
10
"Compensation paid when you reach acertain age" is?
Term-life assurance
Whole life assurance
Endowment life
11
you mustbenefit from the existence or suffer from the loss of the item insured is?
Utmost good faith
Insurable interest
Indemnity
Subrogation
12
Which of these is NOT a broker?
no-nonsense
insure.ie
123.ie
Hibernian
13
Subrogation means?
After compensation, you no longer have rights over your item
Tell the truth
You shouldn't over insure
You cannot profit from insurance
14
What is the current rate of corporation tax?
12.5%
13%
14%
12%
15
Which of these do you NOT need In your car?
Disc
Certificate
Policy
16
Which of following is NOT a step in Risk Management?
Reducing the likelihood of the risk event occurring
Doing a health audit
ØTaking outinsurance againstthe reduced risk
Identifying possible risks
17
True or false, the bigger the No claims bonus, the bigger the premium?
True
False
18
SAIT is tax for?
Drs
Secret Advice & Info Tax
PAYE workers
Self employed
19
to protect against claims by members of the public, a firm needs?
Public liability
Employer liability insurance
Claim insurance
Property insurance
20
If you under-insure, you will be under-compensated,
False
True
21
which of these works independently of insurancecompanies
Insurer
All the above
Broker
Agent
22
which tax is paid by employees & employers?
Corporation tax
PAYE
PRSI
VAT
23
the tax paid on the profit fromsale of a biz asset is
Corporation tax
Capital gains tax
PRSI
Capital Acquisitions tax
24
Which one is not a type of Motor insurance?
3rd party fire & theft
Comprehensive
3rd party
Loss insurance
25
free goods & services givenby employersto employees are?
Perks
Gifts
Tax free
Benefits in kind
26
The higher the risk, the higher the?
Assessor
Loading
Premium
Risk
27
In the case of under-insuring, we use the principle of?
Indemnity
Contribution
Average clause
The school
28
"identifying business risks, and putting in place a strategyto minimise them occurring" is?
Insurance
Assurance
Risk management
29
The money paid for Insurance is?
Cost
Price
Premium
Fee
30
Which form do you complete after an accident?
Claims
Application
Policy form
Proposal
31
A contingency plan is aka?
Plan B
Ad hoc plan
Strategic plan
32
"extra charges added to motorpremiums to take account of different characteristics" is?
Profit
NCB
Loadings
Premiums