3 lifelines: 50/50 – your teacher will tell you which two are available phone a friend – choose...

3 lifelines:

•50/50 – your teacher will tell you

which two are available

•Phone a friend – choose one person in the audience to

ask

•Audience – hand up for A/B/C/D

Protection against something that might happen.

A. Utmost good faith B. Assurance

C. Endowment Assurance D. Insurance

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Who calculates the insurance premium?

A. An Assessor B. A Broker

C. An Actuary D. The insured

L W

An increase in insurance is referred to as..

A. A Loading B. A Loader

C. A Loan D. A load

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Which one of the following is a non- Insurable risk?

A. Car Insurance B. Medical Insurance

D. An EarthquakeC. House Insurance

L W

How many principals of Insurance are there?

A. 5 B. 6

C. 10 D. 4

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There is no point in insuring your house for more then it worth as the insurance company will only compensate you for the actual value of the house. What principal applies?

A. Indemnity B. Subrogation

C. Contribution D. Insurable Interest

L W

Which of the following phrases best describes Subrogation?

A. My fault, my responsibility B. Passing of responsibility to third party

C. Both insurance companies compensate the insured

D. I must own the item I am insuring

L W

Which of the following types of insurance are compulsory?

A. PRSI & Car Insurance B. PRSI & House Insurance

C. Life Assurance D. Car Insurance & Medical Insurance

L W

A. Loss/Damage done to your car & third parties is covered

B. You have to pay for half of the damage done to both cars

C. Blame the loss or damage on the third party

D. Only loss/ damage done to the third parties car is compensated for

L W

What is third Party fire & theft insurance?

What is the second step in making a claim on your insurance?

A. Fill out claim form B. Contact the guards & Ins.Company

C. Talk to the assessor agree on compensation

D. Obtain estimate of items lost/stolen

L W

What is excess clause?

A. An insurance company will not insure a house that is prone to flood

B. The insured is responsible for paying the first part of the loss/damage incurred

C. Another term for a claim form D. A non insurable risk

L W

Calculate the premium. A house is valued at €400000. An insurance company quotes €40 per 10000.

A. €160 B. €40

C. €1600 D. 40%

L W

When is the formula of average clause used?

A. To calculate the premium B. When the item is over insured

C. When the item is not insured D. When the item is under-insured

L W

What is the application for insurance called?

A. The claim form B. The Proposal form

C. The cover note D. The contract

L W

What was the name of the man in the news article we read about the man who tried to fake his own death

to claim on his insurance?

A. Michael Darwin B. Mary Darwin

C. John Darwin D. Glen Masterson

L W

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