Analysed Cashbook
What date is beside the opening balance
1st of whatever month
What is an insurance broker
Someone who compares different prices from insurance companies to get the cheapest quote for a fee
Give me an example of an open ended question?
Any question that does not require a yes/no answer
Or have an tick box suggested answers
What does balance C/D stand for?
Balance carried down
What does DD stand for?
Direct Debit
What does it mean if your closing balance (balance c/d) is on the debit side of the cashbook?
You are in minus/have a deficit
Name the 3 types of car insurance
-Comprehensive
-Third party, fire and theft
-Third party
What is a niche market
Finding a gap in the market for a new product or service
What is a no claims bonus
A reward/discount for not claiming on your car insurance after a certain number of years
Give an example of advertising note done online?
-Posters
-Billboards
-Flyers
-Magazines/newspapers
-Radio ads
What is the name of a cashbook with no analysis columns?
A Simple Cashbook/Cash Account
Name 2 factors that would affect the price of your house insurance
-Location-neighbourhood or floodplain
-Size of your house
-Previously been robbed?
-Security Measures
-Type of house
What is the importance of market research?
-To identify a target market
-To understand the market
-To identify price/distribution channels/advertising/reactions
-To identify competitors
Name any 3 things you can do at an ATM?
-Lodge money
-Withdraw money
-Change card PIN
-Check account balance
Why do you have to pay bank charges
-To lodge or withdraw money
-To use online banking
What does Balance b/d stand for?
Balance brought down
This type of insurance provides a certain percent of the customers income to be paid to them if they suffer from an illness or are unable to work
Income Protection Insurance
Give an example of Field Research?
-Surveying door to door
-Interviews
-Speaking with customers in shops
-Questionnaires
A bank having permission to take a fixed amount out of your account is called what?
A Standing Order
This principle of insurance is when you pass the right of ownership of the asset/item over to the insurance company after the compensation is paid out
Subrogation
Which side of the account would a PayPath transaction appear?
Debit
What does PRSI stand for
Pay Related Social Insurance
What is sales promotion?
Using special offers/discounts to entice people to buy your product.
e.g. buy one get one free, free samples, 20% off, loyalty cards
Name ALL 5 principles of insurance
-Indemnity
-Utmost good faith
-Subrogation
-Contribution
-Insurable Interest
Name one FULL channel of distribution.
Manufacturer-Retailer-Consumer
Manufacturer-Consumer
Manufacturer-Wholesaler-Retailer-Consumer