Question 1

Collision protection pays for damage to

Accepted Answer

A)  non-auto property of insured. 
B)  auto of insured. 
C)  all autos in accident. 
D)  auto of other party in accident. 
E)  non-auto property of others damaged in accident. 
A)  non-auto property of insured. 
B)  auto of insured. 
C)  all autos in accident. 
D)  auto of other party in accident. 
E)  non-auto property of others damaged in accident.

Question 2

Floods are specifically defined in homeowner's policies.

Accepted Answer

A) True 
 B)False

Question 3

A house with a replacement value of $110,000 is currently insured for $90,000.The house has suffered a $15,000 loss from windstorm damage.The insurance company will pay the full $15,000 less the deductible.

Accepted Answer

A) True 
 B)False

Question 4

Negligence results when a person

Accepted Answer

A)  is not insured. 
B)  acts as a "reasonable person." 
C)  fails to act as a "reasonable person." 
D)  admits it. 
E)  is more than 18 years old. 
A)  is not insured. 
B)  acts as a "reasonable person." 
C)  fails to act as a "reasonable person." 
D)  admits it. 
E)  is more than 18 years old.

Question 5

What factor affects insurance premiums the most?

Accepted Answer

A)  Style 
B)  Age 
C)  Brick or wood exterior 
D)  Credit score 
E)  Detached or attached garage 
A)  Style 
B)  Age 
C)  Brick or wood exterior 
D)  Credit score 
E)  Detached or attached garage

Question 6

Donna,who is single and 30-years-old,has received several speeding tickets recently and was shocked by the effect on her auto insurance.Donna drives a 2002 Pontiac Firebird,is currently not covered by health insurance,has an emergency fund of $25,000,an income of $100,000 per year,and an investment portfolio of $230,000.She is trying to reduce the price of her auto insurance.Which of the following actions is most likely to be advisable.

Accepted Answer

A)  lower her liability limits to the minimum allowed in her state 
B)  drop her medical payments coverage 
C)  raise her deductible from $250 to $1,000 
D)  drop her comprehensive coverage and keep collision-only 
E)  drop everything from her policy except the liability insurance 
A)  lower her liability limits to the minimum allowed in her state 
B)  drop her medical payments coverage 
C)  raise her deductible from $250 to $1,000 
D)  drop her comprehensive coverage and keep collision-only 
E)  drop everything from her policy except the liability insurance

Question 7

The best place to buy automobile insurance is your insurance agent.

Accepted Answer

A) True 
 B)False

Question 8

Section I of a homeowner's insurance policy covers medical payments.

Accepted Answer

A) True 
 B)False

Question 9

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 10

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.1779:1779
-Decreasing the amount of deductibles will [increase | decrease] your insurance premiums.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 11

The Thomson's house burned to the ground! They felt they were adequately covered (see coverage below).Their car (market value $10,000)was in the garage and totally destroyed.How much will they be reimbursed for their auto from their HO-3 policy?

Accepted Answer

A)  $ 0 
B)  $9,700 
C)  $6,000 
D)  $5,700 
E)  $8,000 
A)  $ 0 
B)  $9,700 
C)  $6,000 
D)  $5,700 
E)  $8,000

Question 12

Fire is an example of a hazard.

Accepted Answer

A) True 
 B)False

Question 13

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 14

A peril is a cause of loss.

Accepted Answer

A) True 
 B)False

Question 15

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.1779:1779
-When considering your possible losses as a property owner,you would be more likely to suffer a very severe loss from [loss of property | liability claims].

Accepted Answer

The answer of Choose the word or phrase in [...

Collision protection pays for damage to

Floods are specifically defined in homeowner's policies.

A house with a replacement value of $110,000 is currently insured for $90,000.The house has suffered a $15,000 loss from windstorm damage.The insurance company will pay the full $15,000 less the deductible.

Negligence results when a person

What factor affects insurance premiums the most?

The best place to buy automobile insurance is your insurance agent.

Section I of a homeowner's insurance policy covers medical payments.

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.

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.1779:1779 -Decreasing the amount of deductibles will [increase | decrease] your insurance premiums.

The Thomson's house burned to the ground! They felt they were adequately covered (see coverage below).Their car (market value $10,000)was in the garage and totally destroyed.How much will they be reimbursed for their auto from their HO-3 policy?

Fire is an example of a hazard.

Auto insurance is needed primarily because of

A peril is a cause of loss.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

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

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Exam 10: Protecting Your Property

Collision protection pays for damage to

Floods are specifically defined in homeowner's policies.

A house with a replacement value of $110,000 is currently insured for $90,000.The house has suffered a $15,000 loss from windstorm damage.The insurance company will pay the full $15,000 less the deductible.

Negligence results when a person

What factor affects insurance premiums the most?

The best place to buy automobile insurance is your insurance agent.

Section I of a homeowner's insurance policy covers medical payments.

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.

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.1779:1779 -Decreasing the amount of deductibles will [increase | decrease] your insurance premiums.

The Thomson's house burned to the ground! They felt they were adequately covered (see coverage below).Their car (market value $10,000)was in the garage and totally destroyed.How much will they be reimbursed for their auto from their HO-3 policy?

Fire is an example of a hazard.

Auto insurance is needed primarily because of

A peril is a cause of loss.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

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