Chapter 7 - Insurance Shortened Fall 2024

Front

Which of the following describes an insurance premium?
Options: amount the insured must pay before the insurance company pays a claim, amount someone pays for insurance coverage, amount insurance company will pay towards a claim, highest, most expensive form of insurance coverage

Back

amount someone pays for insurance coverage

Front

Which of the following are included in a basic homeowner’s policy?
home or property damage, expenses to live elsewhere, vet costs for injured pets
home or property damage, expenses to live elsewhere, damage to farmland
home or property damage, liability losses (injury), maintenance costs
home or property damage, liability losses (injury), expenses to live elsewhere

Back

home or property damage, liability losses (injury), expenses to live elsewhere

Front

Which of the following describes a life insurance beneficiary? Options: person who receives the insurance benefits upon the death of the insured, person who purchases the life insurance, insurance company that sells the life insurance, beneficiary is not a real word

Back

person who receives the insurance benefits upon the death of the insured

Front

Which of the following describes an insurance deductible? Options: amount the insured pays for coverage, amount the insured must pay before insurance company pays a claim, stated limit of insurance coverage imposed by the insurance company , portion of your insurance you may deduct from your taxes

Back

amount the insured must pay before insurance company pays a claim

Front

People typically get group health insurance through their employers

Back

true

Front

The only purpose of life insurance is to pay for funeral and burial costs.

Back

false

Front

Medicaid is for individuals over the age of 65 or some individuals with disabilities

Back

false

Front

As the cost of a deductible increases, the insurance premium decreases. True or False?

Back

True

Front

Which part of auto insurance coverage pays for people in other cars, passengers riding with the insured, and pedestrians, if injured?

Back

bodily injury

Front

Which part of auto insurance coverage pays for the insured and family members if they are injured while riding in their car or another car?

Back

medical payments