Pecuniary Insurance: Definition & Types

Instructions:

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question 1 of 3

Deborah's business is closing down for one month due to flooding of the entire bottom floor. But Deborah has pecuniary insurance which has an indemnity clause covering the monetary loss of business for 14 days. What does this mean?

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1. Which of the following is an example of a financial loss?

2. How does an owner who has pecuniary insurance compensate for financial loss?

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About This Quiz & Worksheet

Gauge your knowledge concerning different types of pecuniary insurance with this short quiz and worksheet. Among other topics, this multiple-choice quiz requires you to know what pecuniary insurance covers.

Quiz & Worksheet Goals

This quiz will assess what you know about the following:

  • Pecuniary insurance with a specified indemnity clause
  • An example of a financial loss
  • Compensating for financial loss when you have pecuniary insurance
  • What pecuniary insurance covers
  • The Latin origin of the word 'pecuniary'

Skills Practiced

  • Information recall - access the knowledge you've gained about pecuniary insurance with an indemnity clause
  • Interpreting information - verify that you can read information about compensating for financial loss and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about what pecuniary insurance covers

Additional Learning

Be sure to check out the lesson titled Pecuniary Insurance: Definition & Types. Below are a few examples of what's covered in this lesson:

  • An overview of various types of pecuniary insurance coverage
  • Case examples with different types of businesses
  • What casualty insurance covers
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