Insurance Quiz

Welcome to our insurance quiz!

Which of the following is an insurance policy?

A financial instrument through which legal entities and individuals deposit their money in banks;

A security that gives ownership rights over a share of a company, in proportion to the size of the holding relative to the total share capital;

A document for an insurance contract

2. Which of the following institutions regulates the insurance market?

Insurance Supervision Agency (ISA)

Securities and Exchange Commission (SEC)

National Bank of the Republic of North Macedonia (NBRNM)

3. What is a premium?

Money we received as a gift.

Money we earned

The amount the insured pays to the insurer to bear/cover a given risk

Lottery winnings

4. Which institutions are part of the insurance market?

Insurance companies

Insurance brokerage companies

Insurance agency companies

All of the above

5. Which type of insurance is compulsory?

Property insurance

Life insurance

Motor third-party liability insurance

6. What is insurance?

A special type of savings book at a bank

A vacation payment

A means of getting rich

Insurance is a means of providing protection if something unwanted happens to you and your family, or to your movable and immovable property (personal belongings, house, apartment, car, etc.)

7. What is an actuary?

A person who collects and processes data based on accounting documents, prepares and keeps commercial/business books, and compiles annual accounts and/or financial statements in accordance with the law;

A person with professional knowledge of mathematics, statistics, probability and finance, who has analytical and business skills and applies them to the analysis of financial uncertainty and risks in complex financial and social systems;

A person who assesses and evaluates the system of internal controls in a company

8. What is a deductible?

The amount paid when an insurance contract is signed;

The amount of loss that is not covered by the insurance.

9. Insurance of owners and users of motor vehicles against liability for damage caused to third parties (motor third-party liability insurance):

Covers the risk of damage caused to third parties in traffic, but not the damage suffered by the driver who is at fault for the accident;

Covers all costs of renovating the home of the vehicle's owner;

Covers all medical costs arising from an injury at the workplace.

10. A motor vehicle owner who forgot the keys in the vehicle's door:

Is entitled to compensation for the theft of the vehicle, because they previously bought a policy covering the risk of theft;

Is not entitled to compensation for the theft of the vehicle, even though they previously bought a policy covering the risk of theft, because having bought an insurance policy does not relieve the insured of the obligation to take care of the insured vehicle.

11. If you have taken out insurance against the risk of fire and a fire occurs, you must report it to the insurance company and to:

The local government seat

The police station and the fire brigade

The Insurance Supervision Agency

ISA Headquarters