Insurance Test

Front

What role does insurance play in financial planning?

Back

It guarantees that income and assets are protected

Front

A stone hits your windshield. Which type of coverage would likely cover this expense?

Back

Comprehensive

Front

Which of the following wouldn't save you money on your auto insurance premium?
- Decrease your deductible
- Reduce or eliminate optional insurance on an older vehicle
- Maintain a good credit history
- Bundle your insurance with other policies

Back

Decrease your deductible

Front

Your health insurance copay is

Back

A fixed amount of money you pay each time you use your plan

Front

True or False: Insurance is based on the concept of shared risk, or risk pooling.

Back

True

Front

Someone who receives money if an insured person dies

Back

beneficiary

Front

An unexpected death of a family member occurs and results in funeral expenses. What type of insurance covers this? Options: Long-term care Insurance, Disability Insurance, Life Insurance, Liability Insurance

Back

Life Insurance

Front

Your house is destroyed by a tornado and you need to rebuild it. What type of insurance would you need?

Back

Homeowners Insurance

Front

You hit a deer with your car and it needs to be repaired. What type of insurance covers this? Options: Liability Insurance, Comprehensive Insurance, Collision Insurance, Life Insurance

Back

Comprehensive Insurance

Front

Food poisoning sends you and your family to the emergency room. What type of insurance is relevant?

Back

Health Insurance