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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the primary purpose of insurance in trade?
💡 Hint: Think about why businesses would want security against losses.
Question 2
Easy
Name one type of insurance mentioned in this section.
💡 Hint: Consider insurance types associated with shipping or customer safety.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the main role of insurance in trade?
- To accumulate wealth
- To protect against risks
- To increase product prices
💡 Hint: Think about the functions insurance serves in business operations.
Question 2
True or False: Liability insurance protects businesses from claims related to customer injuries.
- True
- False
💡 Hint: Consider how businesses must protect themselves legally.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A shipping company is considering expanding its service internationally. Discuss how having proper insurance might influence their decision.
💡 Hint: Reflect on how insurance can mitigate fears of entering new markets.
Question 2
Evaluate the potential consequences for a manufacturing business that neglects to secure liability insurance.
💡 Hint: Consider what risks businesses face from customers and how insurance can protect them.
Challenge and get performance evaluation