Question 1

You could save money on your car insurance premiums by

Accepted Answer

A)  buying a 4-door sedan. 
B)  choosing a $1,000 deductible. 
C)  moving to a small town. 
D)  all of these. 
E)  none of these would make any difference. 
A)  buying a 4-door sedan. 
B)  choosing a $1,000 deductible. 
C)  moving to a small town. 
D)  all of these. 
E)  none of these would make any difference.

Question 2

Like standard homeowners' policies,a renters' policy liability coverage includes coverage away from home.

Accepted Answer

A) True 
 B)False

Question 3

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
-A personal liability umbrella liability policy is designed to [replace | supplement] HO and car liability coverage.

Accepted Answer

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

Question 4

Jake drove Amanda's truck to the football bowl game because his car was broken.On the way home,Jake was involved in an accident that was his fault.The resulting liability damages totaled $85,000.Jake has $100,000 liability coverage on his car,and Amanda has $50,000 on her truck.How would the $85,000 liability damages be paid for this accident?

Accepted Answer

A)  $50,000 from Amanda's policy with no further payment 
B)  $85,000 from Jake's policy 
C)  $50,000 from Amanda's policy plus $35,000 from Jake's policy 
D)  $50,000 from Amanda's policy plus $35,000 out of Jake's pocket 
E)  $50,000 from Amanda's policy plus $35,000 out of Amanda's pocket. 
A)  $50,000 from Amanda's policy with no further payment 
B)  $85,000 from Jake's policy 
C)  $50,000 from Amanda's policy plus $35,000 from Jake's policy 
D)  $50,000 from Amanda's policy plus $35,000 out of Jake's pocket 
E)  $50,000 from Amanda's policy plus $35,000 out of Amanda's pocket.

Question 5

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
-A HO-2 policy will protect your property from losses due to [all | listed] perils.

Accepted Answer

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

Question 6

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
-Section I of a homeowner's insurance policy covers [personal property | personal liability].

Accepted Answer

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

Question 7

Antiques,collections,and boats are adequately protected under a standard homeowner's policy.

Accepted Answer

A) True 
 B)False

Question 8

As a tenant,you would purchase a HO-3 policy.

Accepted Answer

A) True 
 B)False

Question 9

Auto insurance premiums would be affected by

Accepted Answer

A)  auto body type. 
B)  auto engine size. 
C)  business usage. 
D)  commuting over 50 miles daily. 
E)  all of these. 
A)  auto body type. 
B)  auto engine size. 
C)  business usage. 
D)  commuting over 50 miles daily. 
E)  all of these.

Question 10

The terms "perils" and "losses" refer to the same thing.

Accepted Answer

A) True 
 B)False

Question 11

A pure no-fault system insurance would not pay for medical expenses.

Accepted Answer

A) True 
 B)False

Question 12

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 13

If you have two insurance policies on the same property,the ____ clause explains how the two insurance companies will share the loss.

Accepted Answer

A)  principle of indemnity. 
B)  coinsurance clause. 
C)  other insurance clause. 
D)  companies' insurable interest. 
E)  principle of subrogation. 
A)  principle of indemnity. 
B)  coinsurance clause. 
C)  other insurance clause. 
D)  companies' insurable interest. 
E)  principle of subrogation.

Question 14

Replacement cost and actual cash value is the same thing.

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
-Section I of a homeowner's insurance policy covers [personal property | medical payments | dwelling].

Accepted Answer

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

Question 16

The named insured and her passengers would be covered under automobile medical payments insurance.

Accepted Answer

A) True 
 B)False

Question 17

Getting married will lower your auto insurance premiums.

Accepted Answer

A) True 
 B)False

Question 18

Section I of a homeowner's insurance policy covers all of the following except

Accepted Answer

A)  personal liability 
B)  dwelling 
C)  other structures 
D)  personal property 
E)  all above are covered 
A)  personal liability 
B)  dwelling 
C)  other structures 
D)  personal property 
E)  all above are covered

Question 19

Your standard HO policy will not include coverage for damage done by

Accepted Answer

A)  flood. 
B)  windstorm. 
C)  falling objects. 
D)  wind. 
E)  theft. 
A)  flood. 
B)  windstorm. 
C)  falling objects. 
D)  wind. 
E)  theft.

Question 20

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
-You will almost [never | always] need the services of a public claims adjustor to settle your claim with an insurance company.

Accepted Answer

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

You could save money on your car insurance premiums by

Like standard homeowners' policies,a renters' policy liability coverage includes coverage away from home.

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 -A HO-2 policy will protect your property from losses due to [all | listed] perils.

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 -Section I of a homeowner's insurance policy covers [personal property | personal liability].

Antiques,collections,and boats are adequately protected under a standard homeowner's policy.

As a tenant,you would purchase a HO-3 policy.

Auto insurance premiums would be affected by

The terms "perils" and "losses" refer to the same thing.

A pure no-fault system insurance would not pay for medical expenses.

A(n)____ agent represents multiple insurance companies.

If you have two insurance policies on the same property,the ____ clause explains how the two insurance companies will share the loss.

Replacement cost and actual cash value is the same thing.

The named insured and her passengers would be covered under automobile medical payments insurance.

Getting married will lower your auto insurance premiums.

Section I of a homeowner's insurance policy covers all of the following except

Your standard HO policy will not include coverage for damage done by

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

You could save money on your car insurance premiums by

Like standard homeowners' policies,a renters' policy liability coverage includes coverage away from home.

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 -A HO-2 policy will protect your property from losses due to [all | listed] perils.

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 -Section I of a homeowner's insurance policy covers [personal property | personal liability].

Antiques,collections,and boats are adequately protected under a standard homeowner's policy.

As a tenant,you would purchase a HO-3 policy.

Auto insurance premiums would be affected by

The terms "perils" and "losses" refer to the same thing.

A pure no-fault system insurance would not pay for medical expenses.

A(n)____ agent represents multiple insurance companies.

If you have two insurance policies on the same property,the ____ clause explains how the two insurance companies will share the loss.

Replacement cost and actual cash value is the same thing.

The named insured and her passengers would be covered under automobile medical payments insurance.

Getting married will lower your auto insurance premiums.

Section I of a homeowner's insurance policy covers all of the following except

Your standard HO policy will not include coverage for damage done by

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