Quiz 5 – Risk Management >> Personal & Family Financial Planning
TOTAL POINTS 5
1.The various ways to deal with risk is to avoid it, reduce it, assume it or transfer it.
1 point
False
2.If the risk is going to happen a lot and when it happens it is going to be bad, then we want to _______
1 point
Retain it
Assume it
Transfer it
Avoid it
3.What is the condition that creates or increases the likelihood of loss occurrence?
1 point
Peril
Situation
Hazard
Damage
4.Which of the following statements is not true about insurance deductibles?
1 point
You should always choose the highest deductible you can afford.
A deductible requires you to pay the first portion of the loss.
Deductibles are common in property insurance policies.
The higher the deductible, the higher the insurance premium.
5.Minor injuries to passengers in your car would be covered by which of the following parts of your auto insurance policy?
1 point
Bodily injury liability
Medical payments
Uninsured motorist
None of these
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