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Insurance 101 Quiz? Let’s do it.

Educating our clients on insurance is a top priority, as informed clients make better decisions. By empowering you with knowledge, we strive to build lasting relationships based on trust and transparency.

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Our Client Education Quizzes

Think you can out smart these insurance questions??
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Click on each of the sections for different insurance categories.

Insurance 101

Insurance 201

Life Insurance 101

Fun

1 votes, 5 avg

Personal Insurance Quiz 101

10 Quick, easy home and car insurance quiz questions to help you unlock how it works by increasing your knowledge.

1 / 10

Why do I need car insurance?

All answers listed here.

It allows you to have cover against any accident, fire, theft and hijacking thus helping you to ensure that you should you have any loss you will be compensated for it.

Because it is a requirement for vehicles that are being financed from a bank.

2 / 10

What does household contents generally cover?

Everything that is kept in my house, all my belongings that remain in my house, but excludes things fixed/attached to my house.

My electronic devices.

Money in the safe.

3 / 10

What type of cover do I need to take out for vehicle for mechanical and electric breakdown?

Comprehensive vehicle insurance cover includes this cover.

Liability cover.

Vehicle warranty cover.

4 / 10

Is it necessary to have a tracking device?

Yes, if you don’t have one the insurer will not cover you if your car is stolen

It is dependent on the insurance company's specific requirements, value of your car, etc. Your insurance policy schedule will let you know if this is a requirement for your cover.

No, its just an extra expenses for no reason

5 / 10

Why does my premium go up if the value of my car should be depreciating?

The food price is dependent on the increase and when food increases the insurance is affected and that increase its amount.

Because as with everything your insurance must also increase.

As with every year car parts go up with inflation and the cost to repair your vehicle becomes more expensive (like salary increases) that’s why your insurance premium increases.

6 / 10

What happens when my insured assets are damaged by riots and political strikes?

There is no cover for such events, it will be for your own pocket.

The claim is automatically rejected.

If your insurance policy includes SASRIA cover, you will be covered.

7 / 10

Insurance quotation are generally valid for how long?

30 days

7 days

1 month

8 / 10

How long do I have to report an accident to the police to claim for insurance?

Within 30 days after the accident.

Accidents are traumatic so I can take as long as I need.

Within 24 hours of the incident to the closest police station where the accident happened.

Within 24 hours of the incident to any police station that is closest to my home.

9 / 10

My premium is calculated based on?

My income.

My level of education.

My risk profile and insurance history.

10 / 10

Why is insurance known as a grudge purchase?

As you pay your policy and you claim your premiums will increase yearly.

It is known to be a policy you can claim from when you experience a bad event.

You don’t physically get anything out of the policy like a product or specific service and it covers you for incase of loss.

Your score is

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1 votes, 5 avg

Personal Insurance Quiz 201 - Intermediate

10 Intermediate level, random quick, easy home and car insurance quiz questions to help you unlock how it works by increasing your knowledge.

1 / 10

Gary goes to work on a Friday, he ends up staying after work with his colleagues and they have a few drinks. He leaves work at 11pm and heads home. As he is passing the robot, a guy who is highly intoxicated skips the red robots and knocks into Gary. Gary and the other driver are not injured however upon the police arriving they test them both for alcohol and both Gary and the other driver are arrested because of their alcohol levels. Will the insurer pay for the damages to fix Gary's car?

No, because you are not supposed to be driving and driving and Gary broke the law.

Yes, because the accident was not Gary's fault.

No, because the other driver is at fault and Gary needs to claim from his insurer.

2 / 10

What happens if I had a burglary at my home 2 years ago and I didn’t tell my current insurer about it when I took out home contents cover?

The insurer may reject your claim in the future, as you have not disclosed important information, they may also cancel your insurance immediately because of this.

The insurer will give you a warning, but will pay out your claim and failure to disclose anything again will result in your policy being cancelled.

Nothing, it happened 2 years ago so the insurer can't really do anything about it now.

The insurer will reject your claim at claim stage as you are now considered a risky client and can no longer be covered for contents cover.

Under insurance is calculated using average. Average is calculated using the below formula:
Average = (Sum Insured Amount) / (Actual Replacement Amount ) x (Claim Amount)
Once you have worked out the average amount you need to minus the excess and it will give you the total amount that an insurer will payout.

3 / 10

My contents is covered for R100 000 with a basic excess of R2 000. Someone breaks into my house and steals contents to the value of R50 000. I submitted a claim, the insurer advises that I am under insured.

My contents is actually worth R250 000. How much will I be paid out?

R198 000 (250 000 minus 50 000 minus 2 000)

R48 000 (50 000 minus 2 000)

R18 000 (100 000/250 000) x 50 000 minus 2 000

R20 000 (100 000/250 000 x 50 000)

4 / 10

What is the function and purpose of insurance?

To protect my life and assets from being damaged.

To make sure that my assets are not damaged.

Where the insurer accepts my premium in exchange for undertaking a risk to compensate me in the event of potential loss.

5 / 10

Do I really need to disclose the colour of my vehicle for insurers to calculate my premium?

No, the colour doesn’t mean anything and people are always respraying their cars anyway.

No, it does not make a difference in premium.

Yes, statistics show certain colour cars are at risk of being stolen.

6 / 10

My contents is covered for R100 000 with a basic excess of R2 000. Someone breaks into my house and steals all my contents. I submitted a claim, the insurer advises that I am under insured.

My contents is actually worth R250 000. How much will I be paid out?

R40 000 (100 000/250 000 x 100 000)

R98 000 (100 000 minus 2 000)

R248 000 (250 000 minus 2 000)

R38 000 (100 000/250 000) x 100 000 minus 2 000

7 / 10

Why is it important to disclose true information to insurance companies?

Your claim may be rejected if the insurer finds out you lied and that increases the chance of your policy being cancelled.

The insurers always have investigators to check up on clients from time to time.

The insurer just wants to charge me more, even if a previous claim was not my fault.

8 / 10

What is SASRIA cover?

Cover for damage caused by a third party vehicle (someone knocks into me).

Covers you for legal expenses.

Covers loss or damage caused by riots, wars , political acts, public disorder any attempted acts of this kind.

9 / 10

I have contents and building insurance with A Insurers and I am covered for R1 000 000 for my building and R250 000 for my contents cover.

I have a zero excesses on both covers. After validating my claim due to a fire, I am advised that I am under insured for both my contents and building.

The replacement value for my building is R2 500 000 and my contents is R325 000. How much will I be paid out?

R1 000 000 for building and R250 000 for contents.

R400 000 for the building and R192 308 for contents (1 000 000/2 500 000) x 1 000 000 AND (250 000/325 000) x 250 000

R2 500 000 for building and R325 000 for contents.

10 / 10

My home burns down and I have building cover for R2 000 000. After validating the claim, we realise that the cost to replace my home is actually R2 400 000.

I have an excess of R10 000. How much will the insurer pay me out?

R2 390 000 (2 400 000 minus 10 000)

R1 990 000 (2 000 000 minus 10 000)

R1 656 667 (2 000 000/2 400 000) x 2 000 000 minus 10 000

R1 666 667 (2 000 000/2 400 000) x 2 000 000

Your score is

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Life Insurance Quiz 101

10 random quick, easy life insurance quiz questions to help you unlock how it works by increasing your knowledge.

1 / 10

Is it necessary to have a Will, in case I die?

Yes, it will allow your estate to be wound up efficiently and will ensure that your last wishes are carried out.

No, you don’t need to have a will because, by law everything will automatically go to my wife and children.

No, a will is only needed if you have a lot of money and assets.

2 / 10

Will my life cover automatically cancel when I reach my retirement age?

If you opted for cover until retirement age, once you reach this age, the cover will end. If you opted for benefits for the whole of your life then the cover will continue until you die.

Yes, at this age you will no longer require life cover.

Yes, at this age the benefit will pay out.

3 / 10

Can a beneficiary in my will also act as a witness and sign my will?

Yes, as long as they understand that their role is more of a beneficiary than a witness should they be called to court for any reason.

Yes, this is completely convenient and makes logical sense.

No, according to our current laws, someone who is a beneficiary in a will cannot sign as a witness to that will.

4 / 10

With death cover, is there a waiting period for suicide?

Yes, 12 months waiting period.

No, if you die from suicide you will still be covered at any time.

Yes, 60 months waiting period.

Yes, 24 months waiting period.

5 / 10

Do insurers offer an monthly disability income benefit instead of a lump sum amount?

Yes, there are many insurers who offer a disability income benefit which will match your current monthly salary.

No, you only get lump sum benefits.

Yes, there are many insurers who offer a disability income benefit which is usually limited to 75% of your current salary.

No, you need to receive the lump sum and put it away and receive monthly interest on it from the bank.

6 / 10

When is the best time to take out Life Cover?

Life cover should be taken out as soon as possible. The younger you are the lower your premiums will be. Life is uncertain and you want to leave your family some means to take care of themselves.

Life cover should be taken out after you turn 50 years old, to ensure your family has money to survive in the event of your death.

Life cover should be taken out after you turn 21 years as you are officially an adult and you have responsibilities.

7 / 10

I bought a house last month, the bank has advised that I need to have life cover which is the same amount as my bond amount but I don’t understand why I need this cover?

When a bank gives you a loan to buy a house they insist on you taking out life cover as surety for the asset. Should you die, the monies paid from the death cover will settle your bond and the house will not be re-possessed by the bank.

Banks want you to take cover to force you to become more responsible now that you have bought a house.

Banks want you to use your money more wisely, so they provide suggestions of what you can do to have a more secure future.

8 / 10

Why is Life Cover important to have?

You want to ensure that your family is not left with all your debt and life cover is meant to pay off all your debts.

It ensure that your family is taken care of when I die and it will also assist to pay off any outstanding debts or tertiary/school fees and provide monies for my loved ones.

You want to ensure that your family is able to provide you with a nice funeral and can also pay for you to have a decent tombstone once you die.

9 / 10

Why do insurers want to know if I am a smoker or not when taking out life cover?

Whether you are a smoker or non-smoker it doesn’t make a difference to your cover or premium.

Non-smokers receive lower premiums in comparison to smokers, as smokers are considered a higher risk.

Insurers only want to insure people who are healthy and look after themselves.

10 / 10

What would happen if I don’t disclose to the insurer upfront that I once had a heart attack when I was really young?

The insurer will cancel your policy and report you to the Ombudsman for your unethical behaviour.

This might result in your claim being rejected and your beneficiaries not receiving any pay-out when you die. Its best to always be honest about your medical history.

Your claim will be rejected because the insurer should have put heart attack as an exclusion on your policy

Your score is

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1 votes, 3 avg

Are you truly South African? Let’s see how well you know your SA slang!

Known as South Africanism....we have many official languages and yes we sommer combine them to keep things interesting...

1 / 10

Let's wai "pozie"

Lets go home

Wave frantically so someone stops

Name of a flower

2 / 10

"Jislaaik" (yis-like)

Usually mumbles below one's breath

No reaction from someone close to you

Expresses surprise or wonder

3 / 10

"Bunny chow"

Curry in a hollowed out half load white bread

Chewing really loudly

Comes out at Easter time

4 / 10

You "chop"

You ideal for me

You idol

You are an idiot

5 / 10

Yus what went down this arvie was slightly awkies hey, I mean naught bru, that dude was gnarly

I was in shock, I mean talk about being at the right place at the right time

The aliens were here, a very interesting guy showed up

Something strange happened this afternoon with a weird guy

6 / 10

Kief?

You so last year

Yip I did that in the 1920’s

That’s so cool, awesome, you blow my mind

I’m okay just catching breath

7 / 10

"Is it" "Iz-It"(Is that so)

I am listening to every word you say

Used when you don’t really feel like talking and don’t want to be rude but want to seem as if you’re listening.

Leave me alone please, before I beat you up

8 / 10

My "stekkie"

My girlfriends, girl friends

My girlfriend

My girlfriend's boyfriend

9 / 10

Shame?

Keep your eyes closed

Bit of a contradiction, feeling pity or expressing joy

Something to do with tending sheep

Feeling hot and bothered

10 / 10

"Droewors" (droo-ah-vors)

Spicy dried sausage, very similar to biltong

I am a vegetarian

Hmmm someone has to pick that up

Your score is

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Personal Insurance

All of your personal possessions that you care about and own...

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All of your business possessions, ranging from assets and vehicles to liability coverage...

Financial Planning

Provides financial support to beneficiaries in the event of you no longer being around...

Liability Insurance

All of your business possessions, ranging from assets and vehicles to liability coverage...

Lifestyle

Every aspect of your everyday life and the risks you might face....

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Our firm specializes in providing comprehensive accounting and tax services designed to support both individuals and companies.We offer personalised solutions to ensure financial accuracy and efficiency, including bookkeeping, financial statement preparation, tax planning, and compliance. ...

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Personal Insurance

All of your personal possessions that you care about and own...

Business Insurance

All of your business possessions, ranging from assets and vehicles to liability coverage...

Financial Planning

Provides financial support to beneficiaries in the event of you no longer being around...

Liability Insurance

All of your business possessions, ranging from assets and vehicles to liability coverage...

Lifestyle

Every aspect of your everyday life and the risks you might face....

OTHER SERVICES

Our firm specializes in providing comprehensive accounting and tax services designed to support both individuals and companies.We offer personalised solutions to ensure financial accuracy and efficiency, including bookkeeping, financial statement preparation, tax planning, and compliance. ...

COMPANY

RESOURCES

HELP CENTRE

QUIZ

Insurance 101 Quiz? Let’s do it.

Our Client Education Quizzes

Insurance 101

Insurance 201

Life Insurance 101

Fun

Please rate this quiz

Please rate this quiz

Please rate this quiz

Please rate this quiz

Quick Poll

CLIENT EDUCATION

Do you think that insurance client education is important?

Success | Thank you!

Success | Thank you!

Our firm specializes in providing comprehensive accounting and tax services designed to support both individuals and companies.
We offer personalised solutions to ensure financial accuracy and efficiency, including bookkeeping, financial statement preparation, tax planning, and compliance. ...

Our firm specializes in providing comprehensive accounting and tax services designed to support both individuals and companies.
We offer personalised solutions to ensure financial accuracy and efficiency, including bookkeeping, financial statement preparation, tax planning, and compliance. ...