32 questions
The higher the deductible the lower the premium
True
False
If you must meet with your primary doctor first this probably means you have what
Insurance
Managed Health Care Plan
Deductible
Which health insurance plan leaves you with more flexibility
HMO
PPO
Tamarra took out a $75,000 life insurance policy. The $75,000 amount of coverage is called the
Cash Value
Premium Value
Death Benefit or Face Value
The type of insurance that covers damage or loss to a vehicle from fire, theft, vandalism, or natural disaster is called
term life insurance
bodily insurance
comprehensive
collision
What does Home Owners Insurance cover?
Building and Other Structures
Additional Living Expenses
Personal Property
All of the Above
A renters insurance policy provides
Personal Property Protection
Additional Living Expenses Coverage
Personal Liability Protection
All of the Above
One of the main advantages of Whole Life Insurance is that it has a cash value.
True
False
Mrs. James owns a home valued at $100,000 and has a homeowner's policy in that amount. Her policy states that personal property in the home is covered up to 80% of the policy amount. She owns personal property in the amount of $150,000. Her house and everything inside is destroyed in a fire. How much can Mrs. James expect to receive from the insurance company for the personal property she lost?
$100,000
$80,000
$150,000
$0
Full cost of repairing or replacing the property, regardless of the depreciation value.
Replacement Value
Deductible and Location Value
Actual Cash Value
Premium Value
The payment you receive on the item is based upon the replacement cost of an item, less depreciation (Note: Depreciation is the loss of value of an item as it gets older)
Replacement Value
Deductible and Location Value
Actual Cash Value
Premium Value
Which types of insurance are most appropriate for a single, working, 24-year-old who owns a house?
Health insurance
Homeowners insurance
Life insurance worth $1,000,000
Auto insurance
What factors impact the cost of your auto insurance premium?
Deductible amount
The vehicle you are insuring
Your credit score
Your income
Under current law, until what age can a child stay on their parents' health insurance?
18
21
26
29
Life insurance is something every person should have.
true
false