1.6 Insurance and inheritance

0.0(0)
studied byStudied by 0 people
0.0(0)
full-widthCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/5

flashcard set

Earn XP

Description and Tags

Flashcards covering key concepts related to financial risk and insurance.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

6 Terms

1
New cards

What is financial risk?

Possibility of losing money.

2
New cards

What is insurance?

Protection against financial loss.

3
New cards

What is the principle of indemnity?

Insurance covers loss without profit.

4
New cards

What is an insurance premium?

Amount paid for insurance.

5
New cards

What is inheritance tax?

Tax on estates above a threshold.

6
New cards

What is intestacy?

Rules when someone dies without a will.