Risk and Insurance Flashcard

Front

Indicate whether the statement is true or false. Risk is the chance of injury, damage, or economic loss.

Back

True

Front

Indicate whether the statement is true or false. Avoiding risks is the strategy whereby you stop the behavior that leads to the risk.

Back

True

Front

Indicate whether the statement is true or false. When you buy insurance, you are following a risk strategy known as transferring risk.

Back

True

Front

Indicate whether the statement is true or false. Fee-for-service health insurance plans typically pay 100 percent of the costs for doctor visits and hospital stays.

Back

False

Front

Indicate whether the statement is true or false. People who are uninsured often do not get adequate health care.

Back

True

Front

Indicate whether the statement is true or false. Permanent life insurance provides a death benefit and builds cash value.

Back

True

Front

A type of homeowner's coverage that provides protection for you if someone is injured on your property is called

Back

personal liability

Front

Which type of automobile insurance provides coverage for damage from being hit by another car or turning over?

Back

collision

Front

Which type of automobile insurance provides coverage for damage to your car from fire, theft, hail, water, falling objects, or vandalism?

Back

comprehensive

Front

Which type of health insurance plan is a group of health care providers who work together to provide services and allows patients to choose doctors from approved lists?

Back

health maintenance organizations