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Insurance
Insurance
20 terms
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StudBud Administration
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17 plays
#insurance #unit4
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Average Clause is a rule used when you..
Under insure an item
Insure an item every year
Do not insure an item
Over insure an item
2
Assurance covers you for...
Something that might happen.
Something that will happen.
3
Which of these is
NOT
material information?
Smoker
Occupation
Address
Starsign
4
A smoker would be charged a loading on health insurance.
No
Yes
5
The principle that states once you recieve compensation, you cannot make further claims is?
Insurable Interest
Subrogation
Contribution
Indemnity
6
The principle of Indemnity states that..
You can insure the item for more than it is worth.
You must tell the truth.
You cannot make a profit from a claim.
You can only insure items with one company.
7
This principle states you can only insure something that you own or would suffer from its loss.
Subrogation
Utmost Good Faith
Insurable Interest
Indemnity
8
How many principles of insurance are there?
5
4
2
3
9
This is filled out when you want to get something insured..
Proposal Form
Claim form
Insurance Policy
Compensation Form
10
Which of these is NOT a principle of insurance?
Average Clause
Insurable Interest
Contribution
Indemnity
11
This is filled out when seeking compensation..
Claim Form
Proposal Form
Insurance Policy
12
Which is not a form of risk management?
Turning off the lights
Installing an alarm
Putting locks on all windows
Training all staff in health and safety
13
The money that you pay for insurance is called..
Price
Fee
Policy
Premium
14
Which insurance would a business not need?
Motor
Public Liability
Fidelity Guarantee
Mortgage Protection
15
This principle is also called 'uberrimae fidae'
Subrogation
Indemnity
Insurable Interest
Utmost Good Faith
16
What is insurance?
Something everyone should have.
Financial protection from certain risks.
Compensation for any loss.
A fee that is charged by insurance companies.
17
You must disclose
all
material information under which principle?
Indemnity
Contribution
Contribution
Utmost Good Faith
18
Which of these is
not
an insurance a household would have?
Public Liability
Health
Mortgage Protection
Motor
19
A loading is an extra charge added for higher risks.
False
True
20
An insurance policy is a legal contract.
False
True
