Insurance is a means of protection from financial loss.

Insuring against risk

Financial education

Using information and advice to make financial decisions

Managing risk

This unit teaches how to evaluate financial advice, manage risk effectively, and understand insurance as a safety net.

Making informed financial decisions

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

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Which of the following does third party insurance cover?

Compensation to an employee injured due to work

Compensation to an employee who is ill due to work

Damage to an employee's property while at work

Damage to company property caused by an employee

Which of the following does employer's liability insurance cover?

Select the insurance types that help to protect you from financial loss if your vehicle is stolen.

Damaging another vehicle and not your own is more likely.

Comprehensive insurance may be too expensive.

Some insurers refuse to give comprehensive coverage.

If comprehensive cover offers the best coverage, what is the most likely reason that other types of insurance exist?

Motor insurance - third party, fire and theft

Which types of insurance are legally required in the UK?

A shop owner buys items and then sells them for a 12.5% profit. If the shop owner buys a vintage guitar for £4560, what does he sell it for?

A shop owner buys items and then sells them for a 12.5% profit. If the shop owner buys a vintage guitar for £4560, what is his profit?

A company's stock price increased by 7.8% in one day. If the original price was £52.50 per share, what is the new price per share?

A video game originally priced at £45.99 is on sale for 17.5% off. What is the sale price of the game?

Sam puts £230.50 into a variable high interest savings account. By the end of the month, this had increased by around 12.3%. How much does Sam now have?

A car was bought for £10 499. Over the year, its value depreciated by 4.6%. How much is the car now worth? Give your answer to the nearest pound.

Insuring against risk

Lesson outcome

Content guidance