1) An insurance company: a) Agrees to take on certain risks in return for a premium b) Agrees to pay a premium in return for avoiding certain risks c) Agrees to take on all of a person’s risks in return for a premium 2) How does an insurance company make money? a) Every customer pays a premium, and every customer has something bad happen b) Every customer pays a premium, but not every customer has something bad  c) Most customers pay a premium, but not all of them have something bad happen 3) Third-party car insurance is a voluntary type of insurance. a) True b) False 4) It is compulsory to buy travel insurance if you go on holiday abroad. a) True b) False 5) Why do lots of people buy voluntary insurance? a) They must buy it if they use particular products b) They weigh up the risk of insuring against the cost of not insuring c) They weigh up the cost of insuring against the risk of not insuring 6) If you drop and break an expensive item, this is an example of: a) Theft b) Accidental damage c) Third-party damage 7) What should you look for in an insurance deal? a) A good price only b) A good price and suitability for your circumstances c) Suitability for your circumstances only 8) Who is a ‘testator’? a) A person who carries out instructions in a will b) A person who dies after writing a will c) A person who inherits from a will 9) When is inheritance tax owed after someone dies? a) Only if the estate totals above a certain amount b) Always, no matter the size of the estate c) Only if the person decided to leave money to the government 10) Under the laws of intestacy, partners who are not married or in a civil partnership can’t inherit. a) True b) False

Unit 1 Topic 6 Quiz

by
Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?