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Insurance Awareness Quiz: Everyone needs protection from financial loss right? which is nothing but insurance. It is a thing that provides security for the individual by a company in return for the payment for a premium. Many competitive exams are giving importance for seeking knowledge of individuals on insurance. So before facing the competitive exams the individual usually takes a step to build their confidence level. So, for cracking the toughest exams it is important to take the Insurance Awareness Quiz. Therefore, take the Insurance Awareness Online Test from this page. Also, get the Insurance Awareness GK Questions And Answers.
Insurance Awareness Quiz Details
This quiz consists of 25 questions which the individual should answer.The time allotted in order to complete this quiz is 30 minutes that means the individual should complete the whole quiz on or before the time allotted.The type of this quiz is MCQ i.e., Multiple Choice Question.
| Quiz Name | Insurance awareness |
| Category | GK |
| Number of Questions | 22 |
| Time | 30 Minutes |
| Exam Type | MCQ (Multiple Choice Questions) |
1. Which of the following is NOT a type of life insurance policy?
a) Term life insurance
b) Whole life insurance
c) Universal life insurance
d) Collision insurance
Answer: d) Collision insurance
Explanation: Collision insurance is a type of auto insurance, not life insurance.
2. Which of the following types of insurance provides coverage for damage to someone else’s property?
a) Collision insurance
b) Liability insurance
c) Comprehensive insurance
d) Uninsured motorist insurance
Answer: b) Liability insurance
Explanation: Liability insurance provides coverage for damage to someone else’s property or injuries they sustain as a result of your actions.
3. Which of the following types of insurance provides coverage for damage to your own vehicle in the event of an accident?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Uninsured motorist insurance
Answer: b) Collision insurance
Explanation: Collision insurance provides coverage for damage to your own vehicle in the event of an accident.
4. Which of the following types of insurance covers medical expenses for injuries sustained in an auto accident, regardless of who was at fault?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Personal injury protection (PIP) insurance
Answer: d) Personal injury protection (PIP) insurance
Explanation: PIP insurance provides coverage for medical expenses and lost wages resulting from an auto accident, regardless of who was at fault.
5. Which of the following is a factor that can affect the cost of auto insurance?
a) Age
b) Gender
c) Driving record
d) All of the above
Answer: d) All of the above
Explanation: Age, gender, and driving record are all factors that can affect the cost of auto insurance.
6. Which of the following is a type of insurance that provides coverage for damage or loss of property due to theft, fire, or natural disasters?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Uninsured motorist insurance
Answer: c) Comprehensive insurance
Explanation: Comprehensive insurance provides coverage for damage or loss of property due to theft, fire, or natural disasters.
7. Which of the following is a type of insurance that provides coverage for damage to your home and personal property?
a) Homeowners insurance
b) Renters insurance
c) Flood insurance
d) Earthquake insurance
Answer: a) Homeowners insurance
Explanation: Homeowners insurance provides coverage for damage to your home and personal property due to covered events.
8. Which of the following is a type of insurance that provides coverage for damage to a rental property and the renter’s personal property?
a) Homeowners insurance
b) Renters insurance
c) Flood insurance
d) Earthquake insurance
Answer: b) Renters insurance
Explanation: Renters insurance provides coverage for damage to a rental property and the renter’s personal property.
9. Which of the following types of insurance covers damage or loss of property due to flooding?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Flood insurance
Answer: d) Flood insurance
Explanation: Flood insurance provides coverage for damage or loss of property due to flooding.
10. Which of the following types of insurance provides coverage for damage or loss of property due to earthquakes?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Earthquake insurance
Answer: d) Earthquake insurance
Explanation: Earthquake insurance provides coverage for damage or loss of property due to earthquakes.
11. Which of the following types of insurance provides coverage for medical expenses and lost wages due to a work-related injury or illness?
a) Health insurance
b) Disability insurance
c) Workers’ compensation insurance
d) Life insurance
Answer: c) Workers’ compensation insurance
Explanation: Workers’ compensation insurance provides coverage for medical expenses and lost wages due to a work-related injury or illness.
12. Which of the following is a type of insurance that provides coverage for legal fees and damages resulting from a lawsuit?
a) Liability insurance
b) Umbrella insurance
c) Professional liability insurance
d) Malpractice insurance
Answer: b) Umbrella insurance
Explanation: Umbrella insurance provides additional liability coverage beyond the limits of other insurance policies, including coverage for legal fees and damages resulting from a lawsuit.
13. Which of the following is a factor that can affect the cost of health insurance?
a) Age
b) Gender
c) Health status
d) All of the above
Answer: d) All of the above
Explanation: Age, gender, and health status are all factors that can affect the cost of health insurance.
14. Which of the following types of insurance provides coverage for damage or loss of property due to theft or vandalism?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Uninsured motorist insurance
Answer: c) Comprehensive insurance
Explanation: Comprehensive insurance provides coverage for damage or loss of property due to theft or vandalism.
15. Which of the following types of insurance provides coverage for damage to your business property and equipment?
a) Business liability insurance
b) Business interruption insurance
c) Property insurance
d) Professional liability insurance
Answer: c) Property insurance
Explanation: Property insurance provides coverage for damage to your business property and equipment.
16. Which of the following types of insurance provides coverage for lost income and other expenses resulting from a covered event that interrupts your business operations?
a) Business liability insurance
b) Business interruption insurance
c) Property insurance
d) Professional liability insurance
Answer: b) Business interruption insurance
Explanation: Business interruption insurance provides coverage for lost income and other expenses resulting from a covered event that interrupts your business operations.
17. Which of the following is a type of insurance that provides coverage for damage or loss of property due to a natural disaster?
a) Homeowners insurance
b) Renters insurance
c) Flood insurance
d) Earthquake insurance
Answer: c) Flood insurance
Explanation: Flood insurance provides coverage for damage or loss of property due to a natural disaster such as a flood.
18. Which of the following types of insurance provides coverage for damage to your personal property while it is in transit?
a) Cargo insurance
b) Liability insurance
c) Comprehensive insurance
d) Property insurance
Answer: a) Cargo insurance
Explanation: Cargo insurance provides coverage for damage to your personal property while it is in transit.
19. Which of the following is a factor that can affect the cost of homeowners insurance?
a) Location of the home
b) Age of the home
c) Type of construction
d) All of the above
Answer: d) All of the above
Explanation: The location of the home, age of the home, and type of construction are all factors that can affect the cost of homeowners insurance.
20. Which of the following is a type of insurance that provides coverage for damage or loss of property due to a cyber attack or data breach?
a) Liability insurance
b) Cyber insurance
c) Professional liability insurance
d) Malpractice insurance
Answer: b) Cyber insurance
Explanation: Cyber insurance provides coverage for damage or loss of property due to a cyber attack or data breach.
21. Which of the following is a factor that can affect the cost of life insurance?
a) Age
b) Gender
c) Health status
d) All of the above
Answer: d) All
Explanation: Age, gender, and health status are all factors that can affect the cost of life insurance. Life insurance premiums are typically higher for older individuals and those with pre-existing health conditions, and rates may also differ based on gender due to differences in life expectancy.
22. What is the term used to describe the amount of money an insured person must pay out-of-pocket before the insurance company will begin paying for covered expenses?
a) Deductible
b) Premium
c) Copayment
d) Coinsurance
Answer: a) Deductible
Explanation: A deductible is the amount of money an insured person must pay out-of-pocket before their insurance company will begin paying for covered expenses.
23. What type of insurance policy provides coverage for damage to a person’s own vehicle?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Uninsured/underinsured motorist insurance
Answer: b) Collision insurance
Explanation: Collision insurance provides coverage for damage to a person’s own vehicle in the event of an accident.
24. Which of the following is not a type of life insurance policy?
a) Term life insurance
b) Whole life insurance
c) Universal life insurance
d) Short-term disability insurance
Answer: d) Short-term disability insurance
Explanation: Short-term disability insurance is a type of insurance policy that provides income replacement in the event that a person becomes disabled and is unable to work.
25. What type of insurance policy provides coverage for damage to someone else’s property?
a) Liability insurance
b) Collision insurance
c) Comprehensive insurance
d) Uninsured/underinsured motorist insurance
Answer: a) Liability insurance
Explanation: Liability insurance provides coverage for damage to someone else’s property or for bodily injury they may suffer as a result of your actions.
For every submission, we can go to next or resubmit the same question. We can have the status of submission on the top. After completion of the Insurance Awareness Quiz, we can have result along with apt explanation which can boost your level of thinking and confidence. Neitherless of any restrictions such as age, gender, the domain you can go through this quiz.
Do you ever think of a quiz which is a mantra for getting success in the competitive field or learning a new thing? Here we have provided certain Insurance Awareness Quiz which is very helpful for a candidate to crack their exams effortlessly and easily along with the necessary explanation. Let’s have a look at the Insurance Awareness GK Questions And Answers. Through this page, candidates can get the valuable details such as insurance awareness pdf, insurance awareness for competitive exams, insurance awareness questions, insurance awareness book, insurance questions for the exam, insurance quiz.
About Insurance Awareness GK Questions
Insurance is nothing but an arrangement of a company or state that undertakes the guarantee of providing compensation for loss, damage, illness or death for the payment the individual had paid for a particular period and knowledge of this insurance is known as “Insurance Awareness“.
Why Do We Need To Have Awareness of Insurance?
As per the busy scheduled world, everyone needs to have protection for their lives and their next generation in terms of finance. Moreover, in several countries the insurance is necessary. And the contract signed between client and insurer is called ‘Insurance policy’.
Streams Where Insurance Awareness are Used:
As life is a precious thing that gifted for god we should manage some security for this by insurance.So for this reasons the knowledge of insurance is necessary for every individual to have a fulfillment of their lives.
We have different kinds of insurance such as health, education, life, hotels and for an individual while living until death and also after the death too. By knowing about insurances we can not only gain knowledge. But also crack several competitive exams such as OICL AO, NICL Assistant, UIIC Assistant, AO. So to gain good marks and have better knowledge of it we are providing “Insurance Awareness Quiz “by which an individual can crack their competitive exams easily by low efforts.
Benefits of Practicing Insurance Awareness Quiz:
There are several benefits of practicing computer awareness quiz.There are:
As mentioned earlier it consists of 22 questions which cover all phases of learning and cracking.
- It has a time limit which makes individual to solve or choose an apt answer in given time.
- The page shows the status such as time duration, seconds and total questions
- So, it has result part which gives points, marks along with grades.
- It has explanation part which gives the brief explanation about every question he/she haven’t /have answered.
- It is tricky and best means need a certain level of understanding, thinking and answering.
- And it is just like a mock test or a competitive test which assure that he/she is boosting their skill or not.
- Finally, it gives the correct answer with the explanation just like a teacher.
These are several benefits that individual going to get by cracking this quiz.
Insurance Awareness Quiz Results
Moreover, after the Insurance Awareness Online Test, the result will be shown on the screen. The results are given as how many questions the individual submitted, marks allotted and points. As well as along with the grade of individual just like any competitive exam. It also shows the correct answer to every question along with a brief explanation. So that the individual can have an idea about the question which he/she have placed wrong. By this, all the individual can learn, gain knowledge and can easily crack their competitive exams. Visit our website Freshersnow.com regularly.
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