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Are you an insurance pro? Test your knowledge and boost your skills by taking this quiz

Risks in life—like death and taxes—can't be avoided. No matter how meticulously one plans, unexpected events are a part of life. However, the sting of accidents, fire, theft, can be mitigated with insurance, one of the most common ways to avoid financial risk.

See how much you know about insurance by taking this quiz, put together by the Council for Economic Education, part of Invest in You's Financial Wellness Council. Even if you have a high tolerance for risk, it's better to know what's at stake and how insurance can protect you and your family so that you're free to enjoy life to its fullest.

CHECK OUT: 5 questions to ask yourself before buying a home, even if you can afford a down payment via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.