Quiz  /  Insurance Class 11 MCQ Questions With Answers

  • 1. 
    Which of the following is a way to reduce the cost of your insurance premium?

  • Good grades
  • Number of miles you drive
  • Where you live
  • All answers are correct

  • 2. 
    The amount you pay for an insurance policy.

  • Rider
  • Premium
  • Deductible
  • Co-Pay

  • 3. 
    Another name for this type of insurance is a warranty

  • Product insurance
  • Health insurance
  • Life Insurance
  • Home Insurance

  • 4. 
    Credit score affects all of these EXCEPT:

  • Auto Insurance
  • Health Insurance
  • Homeowners Insurance
  • Product Insurance

  • 5. 
    What is the main purpose of insurance?

  • to follow the law
  • to get weathly
  • For investment purposes
  • To reduce risk

  • 6. 
    This type of insurance should pay for damages if a tree that goes through your roof.

  • Product
  • Health
  • Homeowners
  • Life

  • 7. 
    How you deal with the chance of potential personal or financial loss is called risk management or risk pooling.

  • True
  • False

  • 8. 
    The people who need this the most generally have kids, and always have someone relying on their income

  • Product Insurance
  • Auto insurance
  • Life Insurance
  • Health insurance

  • 9. 
    This type of insurance should pay if you severely burn your finger on a toaster and need to go to the hospital

  • Life
  • Health
  • Product
  • Homeowners

  • 10. 
    The amount of money you have to pay out of your own pocket before the insurance pays is called the _____________

  • Premium
  • Estimate
  • Deductible
  • Co-Pay

  • 11. 
    Which of the following would you choose if you want a variety of premium quotes?

  • Insurance Agent
  • Insurance Broker
  • Insurance Actuary
  • Insurance Claims Adjuster

  • 12. 
    You probably do not need this if you have enough money

  • Love
  • insurance
  • premium
  • taxes

  • 13. 
    Of the four parts of auto insurance coverage, which part protects only the other person involved in an accident?

  • Liability
  • Comprehensive
  • Collision
  • Medical Payments/Bodily Injury

  • 14. 
    This covers the damage to your car and the other persons, regardless of who is at fault

  • Comprehensive
  • Liability
  • Homeowners
  • Health

  • 15. 
    Of the four parts of auto insurance coverage, which part will pay for repairing your car?

  • Liability
  • Comprehensive
  • Collision
  • Medical Payments/Bodily Injury

  • 16. 
    The total cost of buying insurance, usually per year

  • Premium
  • coverage
  • deductible
  • policy

  • 17. 
    The color of your vehicle can increase the cost of your insurance premiums.

  • True
  • False

  • 18. 
    If you don't do your work while Mr Doty is absent this will happen:

  • You get an assigned seat at the front of the class because you couldn't be responsible unsupervised, gonna have to do better
  • Nothing. Only work when you are forced to and someone is watching

  • 19. 
    This is the minimum required by law, only repairs the vehicle you hit, not your own

  • Liability
  • Collision
  • Comprehensive
  • Deductible

  • 20. 
    This type of insurance should pay for your toaster if it breaks

  • Homeowners
  • Health
  • Life
  • Product

  • 21. 
    This is what you have to pay before the insurance company will pay anything

  • coverage
  • dues
  • deductible
  • policy
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