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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

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.

2 / 10

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

Liability cover.

Vehicle warranty cover.

Comprehensive vehicle insurance cover includes this cover.

3 / 10

With vehicle insurance, do I generally have to pay extra when I use roadside assistance?

Yes you have to pay for road assistance as the insurer will only cover you when you meet up in an accident.

Yes you pay for everything with insurance.

No, road side assistance is one of the benefits that comes with a having full comprehensive cover on your vehicle, it is available to you 24 hours / 365 days.

4 / 10

Why do insurers do an ITC check when I ask for a quote, choose most correct answer?

It forms part of your risk profile, to determine accurate premiums and to qualify for added discounts

To check if the client has a criminal record and how much debt I have.

To penalise me if I have been blacklisted.

5 / 10

My vehicle should be insured for Retail Value. What is Retail Value?

It is the value a dealership would pay for a vehicle.

It is the value that the panel beater can repair my vehicle for.

It is the average value a car dealership would sell a vehicle for.

6 / 10

What does household contents generally cover?

Money in the safe.

My electronic devices.

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

7 / 10

With vehicle insurance, why is it important to install a tracking device?

You automatically get cover for theft and hijacking and any additional excess for theft may waived.

You pay a lower premium.

The insurer will be able to monitor your driving.

8 / 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.

9 / 10

What is the purpose of a broker?

A broker will only assist with policy maintenance.

A broker is a qualified expert in their field, they will assist with finding insurance covers that suit my needs. Help me understand the term & conditions of my policy. Assist with the life time maintenance of my policy and review my covers annually to make sure my covers meet my needs into the future.

A broker is only there to assist with getting me cheaper insurance

10 / 10

Which of the below will effect how much my premium will be when taking out vehicle insurance?

Age, risk address, vehicle details, license, claims history and marital status.

Age, address, smoker status, vehicle details, license information, if I drink or not.

Age, risk address, smoker status, vehicle details.

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

Why is it important to know about my past insurance and claims when I am taking out insurance?

Insurers don’t want to cover clients who have too many accidents, so that’s why they ask for this information.

Your previous insurance history will allow the insurer to understand the type of risk they are accepting and will allow them to provide you with adequate premiums specific to your risk history.

This will allow the insurer to see how many accidents and claims you have had in the past.

2 / 10

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

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.

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

3 / 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 the other driver is at fault and Gary needs to claim from his insurer.

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

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

4 / 10

What happens if I decide to cancel my vehicle insurance and self insure?

Your cover will end as per the date you cancel from and you may lose your insurance history you built up due to your break in insurance.

You need to give 60 days notice to the insurer and they must accept your cancellation.

Your cover will end and you will be liable for any outstanding excesses that needs to be paid.

5 / 10

Why does it matter if I have a license or not when taking out insurance, if I am the one who will be paying for the premium?

It is a requirement by law to have a valid driver's license in order to travel on the roads, insurers need to abide by the law, thus will not provide insurance cover to those that are un-licensed.

Insurance only covers people who have licenses for more than 2 years as anything less is just too much of a risk for them.

People who have no license and drives on the roads are high risk as they are reckless and therefore the insurer will not cover anyone who is reckless.

6 / 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?

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

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

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.

7 / 10

What is SASRIA cover?

Covers you for legal expenses.

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

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

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.

8 / 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?

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

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

R48 000 (50 000 minus 2 000)

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

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?

R2 500 000 for building and R325 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

R1 000 000 for building and R250 000 for contents.

10 / 10

What is an additional excess?

This is the excess you will pay the insurer every time you make a claim.

This is the excess you will pay the panel beater at the time of a claim.

This is an excess applicable over and above your basic excess. It will only be payable if it applies to you at the time of the claim.

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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

What will happen if I stop paying for my life cover premium?

The lump sum amount which you were supposed to receive will decrease every month by the premium amount which you haven't paid.

When you die, your family will be paid out the amount of all the premiums that you have paid.

Non payment of premiums will mean your policy lapses, all premiums already paid will be forfeited and cover will end immediately.

2 / 10

When is the best time to take out Life Cover?

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

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.

3 / 10

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

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

Yes, at this age the benefit will pay out.

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.

4 / 10

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

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

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.

5 / 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?

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

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.

6 / 10

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

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

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.

7 / 10

What will my premium be if I am 25 years old and I want R1 million life cover?

Your premium can not be calculated based on just your age and amount of cover, there are many variables to consider, like your health. It is best to consult a Financial Advisor first to determine how much of cover you need, you don't want to pay for cover you don't need.

Your premium can range from anything between R200 to R700.

Your premium should be cheap, between R100 and R250 as you taking out cover as such a young age.

8 / 10

What is the minimum and maximum amounts of Life Cover you can have?

I can take out any amount of cover I want as long as I pay my premium

Min R50 000 and there isn't a maximum

It depends on each insurer as they all have different minimum and maximum covers they will accept

9 / 10

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

Yes, 60 months waiting period.

Yes, 24 months waiting period.

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

Yes, 12 months waiting period.

10 / 10

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

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

Your score is

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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

Jol?

A serious night with the books to prepare for exams

A whole day of house chores

A party, clubbing, enjoying and having a good time

A gathering of some sorts where we remain silent

2 / 10

"Spaza"

Shop

You telling lies

A huge retail store

3 / 10

"Fundi" (foondi)

An expert at something

Aligning one's energies

Famous ancient wise proverb

4 / 10

Hey, come here "Lytie / laaitie"

I will be late coming home

Come here and take a load off

Little boy

5 / 10

"Babalas" derived from the Zulu word ibhabhalazi.

I woke up early, ready to start my day

I drank too much, I have a hangover from hell

Self inflicted pain

6 / 10

"Nort Bru"

Biological relations

No mate, you joking

Of course you can

7 / 10

"Awe mfowethu" (Zulu)

Hello brother

Hello sir

Hello sister

8 / 10

"Droewors" (droo-ah-vors)

Hmmm someone has to pick that up

Spicy dried sausage, very similar to biltong

I am a vegetarian

9 / 10

"Woes" (Voess)

I am really angry now

Whose at the door?

Dance like there is no tomorrow

10 / 10

You "chop"

You are an idiot

You idol

You ideal for me

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. ...