Hassiba Ben Bouali University of Chlef

Finance & Accounting department Level: master 1 ( Finance &Insurance )

1st Term English Exam

Full Name : …………………… Group Number : ……………………

Part One:

1. Circle the right answer :

 Peril defined as : A- The actual cause of loss B- a condition that creates the chance of
loss

 A financial contract in which a small certain payment is exchanged in order for someone
to be indemnified against large uncertain losses:  A. social security B. Insurance C.
Mutual Fund

 To secure against loss or damage to insure: A- insurance B- guarantee C- indemnify

 Conditions that increase either the severity or frequency of loss are referred to as: 
A. Perils  B. Hazards  C. Risks
2. Fill in the blanks with suitable words given in brackets:
 I have a theft policy, so the insurance company will ………………. me if my mobile
phone is stolen.( protect, indemnify)
 Insurance is a means of spreading the …………………of a new among many. ( loss,
expense)
 The members of the business community feel ……… Because of insurance.
( secured, unsecured)
 Insurance companies invest their funds in corporate and government………….
( loans, securities)
 Insurance is an aid to ………….. as well as commerce. ( industry, trade)
 The amount paid by ……………..to the …………….. is known as premium.
( insurance, insurer, insured)

3. Match the following words with their appropriate meanings:

Social security money that people or organizations have in bank accounts
Fees money paid by the government to unemployed and sick people
Mortgage money paid to finance government spending
Tax money paid to professional people such as lawyers and architects
Deposits repayments of money borrowed to buy a house or flat.
1) How many different insurance policies do you have?
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2) What insurance does your company or employer have?
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GOOD LUCK