Question 1

Everything else being equal,a brick house costs more to insure under an unendorsed HO-3 policy than a wood frame house.

Accepted Answer

A) True 
 B)False

Question 2

Liability insurance generally provides some coverage for legal fees.

Accepted Answer

A) True 
 B)False

Question 3

To reduce auto insurance premiums as your car depreciates in value,you should consider self-insuring which of the following risks?

Accepted Answer

A)  bodily injury liability 
B)  collision 
C)  property damage liability 
D)  comprehensive (other than collision) 
E)  b and d 
A)  bodily injury liability 
B)  collision 
C)  property damage liability 
D)  comprehensive (other than collision) 
E)  b and d

Question 4

A(n)____ agent represents multiple insurance companies.

Accepted Answer

A)  captive 
B)  business 
C)  good 
D)  independent 
E)  employed 
A)  captive 
B)  business 
C)  good 
D)  independent 
E)  employed

Question 5

Collision insurance pays for damage to your automobile regardless of who is at fault.

Accepted Answer

A) True 
 B)False

Question 6

Your homeowners' policy typically covers ____ while at a hotel while on vacation.

Accepted Answer

A)  motorcycles. 
B)  business inventory. 
C)  pets. 
D)  golf carts. 
E)  personal property. 
A)  motorcycles. 
B)  business inventory. 
C)  pets. 
D)  golf carts. 
E)  personal property.

Question 7

After packing up to return home for the holidays after the fall semester,Tex stopped at Double T bookstore to sell textbooks.After collecting $25,he headed back to his pickup truck only to find a broken window,the truck broken into,and all his suitcases and personal property gone.The loss of his personal property and suitcases would be covered by

Accepted Answer

A)  umbrella liability insurance. 
B)  comprehensive (other than collision)auto coverage. 
C)  property damage liability auto coverage. 
D)  property damage to the property of others (homeowners' coverage). 
E)  personal property off premises (homeowners' coverage). 
A)  umbrella liability insurance. 
B)  comprehensive (other than collision)auto coverage. 
C)  property damage liability auto coverage. 
D)  property damage to the property of others (homeowners' coverage). 
E)  personal property off premises (homeowners' coverage).

Question 8

A $100,000/$300,000 bodily injury liability automobile policy could pay up to $100,000 to one person or up to $300,000 to several people seeking damages.

Accepted Answer

A) True 
 B)False

Question 9

Collision coverage would pay for damages to your car if a tree falls on it.

Accepted Answer

A) True 
 B)False

Question 10

The insurance company will provide defense for a covered person against both civil and criminal charges involving her motor vehicle.

Accepted Answer

A) True 
 B)False

Question 11

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-The professional designation you want your property insurance agent to have is the [ACLU | CPCU].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 12

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-When selling you a HO policy,your insurance agent will [require | suggest] that you prepare a personal property inventory.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 13

Automobile liability claims could potentially be more costly to you than car damage claims.

Accepted Answer

A) True 
 B)False

Question 14

HO-4 and HO-6 are for renters and owners of condominiums,respectively.

Accepted Answer

A) True 
 B)False

Question 15

Auto insurance companies may offer premium discounts for

Accepted Answer

A)  being a good student. 
B)  installing anti-theft devices. 
C)  taking a defensive driving course. 
D)  all of these. 
E)  none of these. 
A)  being a good student. 
B)  installing anti-theft devices. 
C)  taking a defensive driving course. 
D)  all of these. 
E)  none of these.

Question 16

Liability claims may result from alleged negligent acts.

Accepted Answer

A) True 
 B)False

Question 17

In order to collect under uninsured motorists coverage,three specific conditions must be in effect.They are:

Accepted Answer

A)  another motorist was at fault;this motorist has no available insurance coverage;and damages were incurred. 
B)  another motorist was at fault;this motorist has insurance coverage;and damages were incurred. 
C)  you were at fault;the other motorist has insurance coverage;and damages were incurred. 
D)  you were at fault;the other motorist has no available insurance coverage;and damages were incurred. 
E)  either a or d 
A)  another motorist was at fault;this motorist has no available insurance coverage;and damages were incurred. 
B)  another motorist was at fault;this motorist has insurance coverage;and damages were incurred. 
C)  you were at fault;the other motorist has insurance coverage;and damages were incurred. 
D)  you were at fault;the other motorist has no available insurance coverage;and damages were incurred. 
E)  either a or d

Question 18

Careful drivers have limited need for liability protection,because they are not likely to be at fault in an accident.

Accepted Answer

A) True 
 B)False

Question 19

Auto insurance is needed primarily because of

Accepted Answer

A)  potential damage to auto. 
B)  potential liability claims. 
C)  lender's requirements. 
D)  state law. 
E)  federal requirements. 
A)  potential damage to auto. 
B)  potential liability claims. 
C)  lender's requirements. 
D)  state law. 
E)  federal requirements.

Question 20

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Earthquake insurance would be more expensive in [California | Montana].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Everything else being equal,a brick house costs more to insure under an unendorsed HO-3 policy than a wood frame house.

Liability insurance generally provides some coverage for legal fees.

To reduce auto insurance premiums as your car depreciates in value,you should consider self-insuring which of the following risks?

A(n)____ agent represents multiple insurance companies.

Collision insurance pays for damage to your automobile regardless of who is at fault.

Your homeowners' policy typically covers ____ while at a hotel while on vacation.

A $100,000/$300,000 bodily injury liability automobile policy could pay up to $100,000 to one person or up to $300,000 to several people seeking damages.

Collision coverage would pay for damages to your car if a tree falls on it.

The insurance company will provide defense for a covered person against both civil and criminal charges involving her motor vehicle.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -The professional designation you want your property insurance agent to have is the [ACLU | CPCU].

Automobile liability claims could potentially be more costly to you than car damage claims.

HO-4 and HO-6 are for renters and owners of condominiums,respectively.

Auto insurance companies may offer premium discounts for

Liability claims may result from alleged negligent acts.

In order to collect under uninsured motorists coverage,three specific conditions must be in effect.They are:

Careful drivers have limited need for liability protection,because they are not likely to be at fault in an accident.

Auto insurance is needed primarily because of

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Earthquake insurance would be more expensive in [California | Montana].

Understanding the Financial Planning Process

Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters

Exam 10: Protecting Your Property

Everything else being equal,a brick house costs more to insure under an unendorsed HO-3 policy than a wood frame house.

Liability insurance generally provides some coverage for legal fees.

To reduce auto insurance premiums as your car depreciates in value,you should consider self-insuring which of the following risks?

A(n)____ agent represents multiple insurance companies.

Collision insurance pays for damage to your automobile regardless of who is at fault.

Your homeowners' policy typically covers ____ while at a hotel while on vacation.

A $100,000/$300,000 bodily injury liability automobile policy could pay up to $100,000 to one person or up to $300,000 to several people seeking damages.

Collision coverage would pay for damages to your car if a tree falls on it.

The insurance company will provide defense for a covered person against both civil and criminal charges involving her motor vehicle.

Automobile liability claims could potentially be more costly to you than car damage claims.

HO-4 and HO-6 are for renters and owners of condominiums,respectively.

Auto insurance companies may offer premium discounts for

Liability claims may result from alleged negligent acts.

In order to collect under uninsured motorists coverage,three specific conditions must be in effect.They are:

Careful drivers have limited need for liability protection,because they are not likely to be at fault in an accident.

Auto insurance is needed primarily because of

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Earthquake insurance would be more expensive in [California | Montana].

Understanding the Financial Planning Process

Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters