Financial Literacy Quiz 6 Grades 7-9

Watch the following video and answer the questions that follow: https://finlit101.ca/en/topic/intro-to-insurance

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* 1. Julie and Juliette are doing a class project comparing insurance rates for different things that their families have insurance for. What types of things should they include on their list to compare?

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* 2. Julie has an older sister, 17 who just got her driver's license. Juliette has an older brother, 17 who just got his driver's license. Who will likely pay more for car insurance?

Julie's sister

Juliette's brother

They will both pay the same

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* 3. Julie's parents inherited some antique furniture and jewellery from Julie's grandparents. What type of insurance should they purchase to protect these assets?

Life Insurance

Travel insurance

General Insurance

Furniture insurance

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* 4. When comparing premiums for general insurance, Julie's family pays more than Juliette's family. Why do you think this is the case?

Julie's family are insuring more expensive assets

Julie's family represent a higher risk to the insurance company

Julie's family had a previous claim for a basement flood

All of the above

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* 5. Juliette and her family are planning a trip for March break next year. Since they are planning so far in advance, how can they protect themselves if they have to cancel.

Book the trip without paying anything

Purchase general insurance to cover them if they cannot go

Purchase health insurance to cover them if they cannot go

Purchase travel insurance to cover them if they cannot go

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* 6. Juliette's brother is hoping to become a professional athlete. What would he be interested in getting insurance for?

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* 7. Julie's mother is an executive chef. What kind of insurance would she want to have?

Life insurance

Disability insurance

Insurance if she lost her taste buds

All of the above

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* 8. Julie and Juliette are going to create a timeline with at least 5 life events where they should be thinking about purchasing insurance. What life events should they be sure to include?

Financial Literacy Quiz 6 Grades 7-9

Question Title

* 1. Julie and Juliette are doing a class project comparing insurance rates for different things that their families have insurance for. What types of things should they include on their list to compare?

Question Title

* 2. Julie has an older sister, 17 who just got her driver's license. Juliette has an older brother, 17 who just got his driver's license. Who will likely pay more for car insurance?

Question Title

* 3. Julie's parents inherited some antique furniture and jewellery from Julie's grandparents. What type of insurance should they purchase to protect these assets?

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* 4. When comparing premiums for general insurance, Julie's family pays more than Juliette's family. Why do you think this is the case?

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* 5. Juliette and her family are planning a trip for March break next year. Since they are planning so far in advance, how can they protect themselves if they have to cancel.

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* 6. Juliette's brother is hoping to become a professional athlete. What would he be interested in getting insurance for?

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* 7. Julie's mother is an executive chef. What kind of insurance would she want to have?

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* 8. Julie and Juliette are going to create a timeline with at least 5 life events where they should be thinking about purchasing insurance. What life events should they be sure to include?

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* 9. In Canada, drivers with cars are legally required to have car insurance.

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* 10. If you are in a car accident, your insurance will cover the full cost of the damage.

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* 11. You are not legally permitted to buy life insurance until the age of 40.

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* 12. Mortgagers require homeowners to carry general insurance on their homes.