Question 1

Pretend you are an insurance agent.Explain the coinsurance and 80 percent rule to a client.

Accepted Answer

The coinsurance provision requires you t

Question 2

Allison's home and property has a market value of $325,000.According to the coinsurance provision,she must carry at least how much insurance?

Accepted Answer

A) $260,000 
B) $300,000 
C) $325,000 
D) 4250,000 
A) $260,000 
B) $300,000 
C) $325,000 
D) 4250,000

Question 3

Brandi thought it quite funny to have a decorative outhouse put on her property as a conversation piece.This structure is covered under Coverage A: Dwelling on her home owners policy.

Accepted Answer

A) True 
 B)False

Question 4

You want to keep your insurance costs down on your car.Prepare a list of things to ask your agent and to do in general.

Accepted Answer

1.Is your company a high-quality,top-rat

Question 5

The ________ is the amount that you agree to pay before insurance coverage kicks in.

Accepted Answer

A) pro rata share 
B) gratis 
C) allowance 
D) deductible 
E) none of the above 
A) pro rata share 
B) gratis 
C) allowance 
D) deductible 
E) none of the above

Question 6

In addition to paying the policy limits for the damages you caused,the insurer also agrees under Part A to defend you in any civil cases arising from the accident and to pay all legal costs.

Accepted Answer

A) True 
 B)False

Question 7

Your written or video inventory of your assets should be kept in a safe place such as a lock box at your bank.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is not a consideration in determining the amount of homeowner's insurance a person needs?

Accepted Answer

A) Cover the entire replacement cost in the event of a complete loss. 
B) Match the insurance coverage of similar homes in your neighborhood. 
C) Protect against the effect of inflation eroding away your coverage. 
D) Purchase flood or earthquake coverage if you are in an area prone to these occurrences. 
E) Determine if detached structures are adequately covered under standard policies. 
A) Cover the entire replacement cost in the event of a complete loss. 
B) Match the insurance coverage of similar homes in your neighborhood. 
C) Protect against the effect of inflation eroding away your coverage. 
D) Purchase flood or earthquake coverage if you are in an area prone to these occurrences. 
E) Determine if detached structures are adequately covered under standard policies.

Question 9

If you get a DUI,your insurance rates will go up by how much ,on average,in the year after?

Accepted Answer

A) 100% 
B) 50% 
C) 82% 
D) 93% 
A) 100% 
B) 50% 
C) 82% 
D) 93%

Question 10

In the United States,the first type of homeowner's insurance was fire insurance,offered in 1935 by a small company in Charleston,South Carolina.

Accepted Answer

A) True 
 B)False

Question 11

The first homeowner's policy in the United States was written to cover?

Accepted Answer

A) Flood 
B) Theft 
C) Fire 
D) Personal property 
A) Flood 
B) Theft 
C) Fire 
D) Personal property

Question 12

Which of the following are not discounts for PAP coverage?

Accepted Answer

A) Good student discount 
B) Anti-theft equipment discount 
C) Low miles per gallon discount 
D) Accident free discount 
E) All of the above are discounts for PAP. 
A) Good student discount 
B) Anti-theft equipment discount 
C) Low miles per gallon discount 
D) Accident free discount 
E) All of the above are discounts for PAP.

Question 13

Briefly describe the most common automobile insurance discounts.

Accepted Answer

Accident free: A 10 percent discount on

Question 14

What should a 20-year-old man consider when he is thinking about purchasing a new car?

Accepted Answer

A) The sportier the car he purchases is,the more his insurance will cost. 
B) Because of his demographics,he will pay higher rates for car insurance. 
C) The type of car he purchases could have a dramatic impact on the cost of his insurance. 
D) All of the above are correct. 
E) All but A are correct. 
A) The sportier the car he purchases is,the more his insurance will cost. 
B) Because of his demographics,he will pay higher rates for car insurance. 
C) The type of car he purchases could have a dramatic impact on the cost of his insurance. 
D) All of the above are correct. 
E) All but A are correct.

Question 15

Each automobile policy contains both liability and property damage coverage.

Accepted Answer

A) True 
 B)False

Question 16

Amy Lambert's home is insured for $85,000 and her detached garage is destroyed by a windstorm.She hopes to collect $11,850 under her homeowner's policy.What will happen?

Accepted Answer

A) Amy will receive $11,850 under Coverage B: Other structures 
B) Amy will receive $11,850 under Coverage A: Dwelling 
C) Amy will receive $8,500 under Coverage B: Other structures 
D) Amy will receive $8,500 under Coverage A: Dwelling 
E) Amy will receive $11,850 under Coverage C: Personal property 
A) Amy will receive $11,850 under Coverage B: Other structures 
B) Amy will receive $11,850 under Coverage A: Dwelling 
C) Amy will receive $8,500 under Coverage B: Other structures 
D) Amy will receive $8,500 under Coverage A: Dwelling 
E) Amy will receive $11,850 under Coverage C: Personal property

Question 17

According to the Keown book,why don't renters typically have renter's insurance?

Accepted Answer

A) They felt the insurance was too expensive. 
B) They didn't know they needed coverage. 
C) They have never heard of such insurance. 
D) All of the above 
A) They felt the insurance was too expensive. 
B) They didn't know they needed coverage. 
C) They have never heard of such insurance. 
D) All of the above

Question 18

Angela's home became overrun with termites.She had to stay in an apartment temporarily while her home was being fixed.The provision on her home owners policy that covers her expenses while she is not able to live in her home is known as: Coverage D: Loss of Use.

Accepted Answer

A) True 
 B)False

Question 19

You plan to purchase a personal automobile policy on your new car.You want to be able to understand the four basic parts,which are:

Accepted Answer

Part A: Liability coverage provides prot

Question 20

By increasing your deductible from $250 to $1,000 you could save up to ________ percent.

Accepted Answer

A) 30 
B) 24 
C) 15 
D) 20 
A) 30 
B) 24 
C) 15 
D) 20

Pretend you are an insurance agent.Explain the coinsurance and 80 percent rule to a client.

Allison's home and property has a market value of $325,000.According to the coinsurance provision,she must carry at least how much insurance?

Brandi thought it quite funny to have a decorative outhouse put on her property as a conversation piece.This structure is covered under Coverage A: Dwelling on her home owners policy.

You want to keep your insurance costs down on your car.Prepare a list of things to ask your agent and to do in general.

The ________ is the amount that you agree to pay before insurance coverage kicks in.

In addition to paying the policy limits for the damages you caused,the insurer also agrees under Part A to defend you in any civil cases arising from the accident and to pay all legal costs.

Your written or video inventory of your assets should be kept in a safe place such as a lock box at your bank.

Which of the following is not a consideration in determining the amount of homeowner's insurance a person needs?

If you get a DUI,your insurance rates will go up by how much ,on average,in the year after?

In the United States,the first type of homeowner's insurance was fire insurance,offered in 1935 by a small company in Charleston,South Carolina.

The first homeowner's policy in the United States was written to cover?

Which of the following are not discounts for PAP coverage?

Briefly describe the most common automobile insurance discounts.

What should a 20-year-old man consider when he is thinking about purchasing a new car?

Each automobile policy contains both liability and property damage coverage.

Amy Lambert's home is insured for $85,000 and her detached garage is destroyed by a windstorm.She hopes to collect $11,850 under her homeowner's policy.What will happen?

According to the Keown book,why don't renters typically have renter's insurance?

Angela's home became overrun with termites.She had to stay in an apartment temporarily while her home was being fixed.The provision on her home owners policy that covers her expenses while she is not able to live in her home is known as: Coverage D: Loss of Use.

You plan to purchase a personal automobile policy on your new car.You want to be able to understand the four basic parts,which are:

By increasing your deductible from $250 to $1,000 you could save up to ________ percent.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Eventsfitting the Pieces Together

Filters

Exam 10: Property and Liability Insurance

Pretend you are an insurance agent.Explain the coinsurance and 80 percent rule to a client.

Allison's home and property has a market value of $325,000.According to the coinsurance provision,she must carry at least how much insurance?

Brandi thought it quite funny to have a decorative outhouse put on her property as a conversation piece.This structure is covered under Coverage A: Dwelling on her home owners policy.

You want to keep your insurance costs down on your car.Prepare a list of things to ask your agent and to do in general.

The ________ is the amount that you agree to pay before insurance coverage kicks in.

In addition to paying the policy limits for the damages you caused,the insurer also agrees under Part A to defend you in any civil cases arising from the accident and to pay all legal costs.

Your written or video inventory of your assets should be kept in a safe place such as a lock box at your bank.

Which of the following is not a consideration in determining the amount of homeowner's insurance a person needs?

If you get a DUI,your insurance rates will go up by how much ,on average,in the year after?

In the United States,the first type of homeowner's insurance was fire insurance,offered in 1935 by a small company in Charleston,South Carolina.

The first homeowner's policy in the United States was written to cover?

Which of the following are not discounts for PAP coverage?

Briefly describe the most common automobile insurance discounts.

What should a 20-year-old man consider when he is thinking about purchasing a new car?

Each automobile policy contains both liability and property damage coverage.

Amy Lambert's home is insured for $85,000 and her detached garage is destroyed by a windstorm.She hopes to collect $11,850 under her homeowner's policy.What will happen?

According to the Keown book,why don't renters typically have renter's insurance?

Angela's home became overrun with termites.She had to stay in an apartment temporarily while her home was being fixed.The provision on her home owners policy that covers her expenses while she is not able to live in her home is known as: Coverage D: Loss of Use.

You plan to purchase a personal automobile policy on your new car.You want to be able to understand the four basic parts,which are:

By increasing your deductible from $250 to $1,000 you could save up to ________ percent.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Eventsfitting the Pieces Together

Filters