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- 1. Multiple Choice
Use what you have learned about managing risk to complete the following statements.
Smart phones are very expensive. You can purchase a protection plan that lets you___________ risk with the phone carrier.
accept
share
reduce
- 2. Multiple Choice
Use what you have learned about managing risk to complete the following statements.
Choosing to buy a case for your phone and being careful are ways to_____________ risk.
avoid
accept
reduce
- 3. Multiple Choice
Purchasing insurance can help Adrian __________ risk.
avoid
minimize
maximize
- 4. Multiple Choice
Adrian’s best decision in this case is to__________________because the policy is ______________________.
not buy the insurance, too expensive in relation to the value of his vehicle
buy the insurance, a good value for the protection it provides.
- 5. Multiple Choice
Choose the best word or phrase to complete each sentence.
_______________is a financial service that offers a kind of _________________ in the event of unforeseen damage, injury, or cost.
Insurance, protection
premium, deductible
deductible, cost
- 6. Multiple Choice
Choose the best word or phrase to complete each sentence.
_________________ is the cost of a type of insurance that is paid at regular intervals.
A compensation
deductible
premium
- 7. Multiple Choice
Is the following a cost or benefit of owning insurance?
copayments
costs
benefits
- 8. Multiple Choice
Is the following a cost or benefit of owning insurance?
premiums
costs
benefits
- 9. Multiple Choice
Is the following a cost or benefit of owning insurance?
risk management
costs
benefits
- 10. Multiple Choice
Is the following a cost or benefit of owning insurance?
deductibles
costs
benefits
- 11. Multiple Choice
Is the following a cost or benefit of owning insurance?
protection from devastating costs
costs
benefits
- 12. Multiple Choice
Is the following a cost or benefit of owning insurance?
peace of mind
costs
benefits
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