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- 1. Multiple Choice
Insurance can help you:
a. minimize monthly expenses
b. financially protect against unexpected accidents
c. reduce the chances of getting into an accident
d. cover all out-of-pocket costs
- 2. Multiple Choice
Which of the following would likely be covered under homeowners insurance but NOT by renter's insurance?
a. Your basement floods, causing you to lose a valuable collection.
b. A burglar makes off with your laptop while you're out of town.
c. A tree branch breaks your bedroom window during a storm.
d. A fire destroys almost all your possessions.
- 3. Multiple Choice
Jan pays $70 each month for her auto insurance policy. This regular payment is called a:
a. co-pay
b. deductible
c. premium
d. claim
- 4. Multiple Choice
In which of the following scenarios will you be entitled to pay the least amount of money out-of-pocket for a medical expense?
a. You have no insurance.
b. You have health insurance with a $500 deductible.
c. You have auto insurance with a $700 deductible.
d. You have health insurance with a $1,500 deductible.
- 5. Multiple Choice
Your auto insurance policy has a $200 monthly premium and $700 deductible. What is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs?
$200
$500
$700
$900
- 6. Multiple Choice
You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage?
$200
$300
$500
$800
- 7. Multiple Choice
Which of the following typically have the highest auto insurance premiums?
a. Young, inexperienced drivers
b. Older, experienced drivers
c. Drivers who have safe driving records
d. Drivers who travel short distances
- 8. Multiple Choice
The person who receives financial protection from a life insurance plan is called a:
a. Beneficiary
b. Payer
c. Insured
d. Giver
- 9. Multiple Choice
A set amount of money you pay to the insurance company to purchase a policy for coverage.
Deductible
Claim
Premium
Co-Pay
- 10. Multiple Choice
The amount that you have to pay out of pocket on a loss before the insurance begins paying is the:
Premium
co-insurance
deductible
none of the above
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