Practice Insurance (1.5.2.3) - Commercial Activities

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9 questions

Flashcard drill
3 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is insurance?
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Think about what safety net means.
Question 2.
Name one type of insurance.
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What might a business use to protect itself?
3Question 3.
What is the primary function of insurance?
- To provide loans
- To protect against financial losses
- To invest money
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Think about what happens when unexpected incidents occur.
4Question 4.
True or False: Liability insurance covers damages from accidents caused by the insured.
- True
- False
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Consider how accidents could lead to lawsuits.
Question 5.
Considering the types of insurance available, outline a strategy for a small business looking to expand.
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What are the main risks when expanding operations?
Question 6.
How might a lack of insurance impact long-term business sustainability?
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Consider the long-term consequences of unexpected expenses.

5 more questions in this section. Enroll free to practise them all.