The Insurance Knowledge Challenge
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Questions and Answers

Which of the following best defines insurance?

  • A government program that provides healthcare to the elderly
  • A contract between an individual and an insurance company to provide financial protection (correct)
  • A process of saving money for future expenses
  • A type of investment in stocks and bonds

    • Which of the following is a common type of insurance?

  • Car loan
  • Student loan
  • Credit card
  • Home insurance (correct)

    • Who typically benefits from having insurance?

  • Only the government
  • Both the individual and the insurance company (correct)
  • Neither the individual nor the insurance company
  • Only the insurance company

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