Practice Insurance (6.6.3) - Trade - ICSE 9 Commercial Studies

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9 questions

Flashcard drill
4 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 the primary purpose of insurance in trade?
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Think about why businesses would want security against losses.
Question 2.
Name one type of insurance mentioned in this section.
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Consider insurance types associated with shipping or customer safety.
3Question 3.
What is the main role of insurance in trade?
- To accumulate wealth
- To protect against risks
- To increase product prices
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Think about the functions insurance serves in business operations.
4Question 4.
True or False: Liability insurance protects businesses from claims related to customer injuries.
- True
- False
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Consider how businesses must protect themselves legally.
Question 5.
A shipping company is considering expanding its service internationally. Discuss how having proper insurance might influence their decision.
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Reflect on how insurance can mitigate fears of entering new markets.
Question 6.
Evaluate the potential consequences for a manufacturing business that neglects to secure liability insurance.
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Consider what risks businesses face from customers and how insurance can protect them.

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