Elements of an Insurance Contract

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What component of an insurance contract is where the insurer offers a service?

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1. Where do insurers place the list of things being insured and the caveats as to what will not be insured?

2. What is another name for the agreement section?

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About This Quiz & Worksheet

The following quiz and worksheet questions let you see what you remember about insurance contracts. You will need to identify the standard components of any contract and their importance to the documents legality.

Quiz & Worksheet Goals

In this quiz and worksheet you'll see what you understand about:

  • The list of items being insured and excluded from insurance
  • Other terms used to describe the agreement section of a contract
  • The location of signatures on these contracts

Skills Practiced

  • Defining key concepts - ensure that you can accurately define main phrases, such as the consideration element
  • Information recall - access the knowledge you've gained regarding what part of a contract shows all the protections and services being offered
  • Knowledge application - use your knowledge to answer questions about the different components of a standard insurance contract

Additional Learning

To find out more about this type of legal document, read the lesson titled Elements of an Insurance Contract. Topics covered will include:

  • The consideration
  • Qualifications generally needed to sign a contract
  • Why all of these components are important to the enforceability of a contract
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