W!SE Practice: Insurance

W!SE Practice: Insurance

9th - 12th Grade

10 Qs

quiz-placeholder

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W!SE Practice: Insurance

W!SE Practice: Insurance

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Medium

Used 466+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person buys a flat screen, plasma, theater-like television. The person has homeowner's insurance. Why would it be appropriate to add a personal property floater to that insurance?

To reduce the premium on the homeowner's insurance.
To protect the person who owns the television from liability for damages.
To show the insurance company a good faith investment has been made.
To cover the cost of replacement should the television get damaged or stolen.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy.  At the time of surrender, the person will receive

one-fifth of the $20,000 face value.
$20,000 less the premiums paid.
a calculated amount of money which includes the premiums paid as well as the interest on that money.
a calculated amount of money that must be converted to a term life insurance policy.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A woman has just received a very expensive piece of jewelry. The woman has homeowner's insurance. Which statement would it be most appropriate for her to make to her insurance agent?

"I think I need a personal property floater."
"I think I should get speculative risk insurance."
"I will deduct the cost of the jewelry from my premium."
"I realize that if this jewelry is stolen it will be considered vicarious liability."

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following insurance covers vehicles?

Mortgage
Racing
Automobile
Life

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

John's job provided the main income for his family.  He died unexpectedly and had no life insurance.  The probable financial consequence for his wife and two children does not include:

The loss of John's income
A reduction in the family's standard of living
Death-related expenses to be paid
An increase in income and expenses

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement does NOT accurately describe a characteristic of cash value for whole life insurance?

Cash value grows gradually over time
If the policy is cancelled, you may be entitled to some or all of the accrued cash value
Policy that accumulates cash value is less expensive than a policy that does not accumulate cash value
When an insured person dies, the beneficiary will receive the death benefit but the insurance company keeps the cash value

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Richard's auto insurance policy expired on 5/15/2002.  Richard was upset with his insurance agent and decided to change insurance companies.  At 10:00 a.m. on 5/16/2002, as he drove to a different agent to buy a new policy, he had an accident.  Who is liable for damage to his car and his personal injuries?

The old agent
The new agent
Richard
The old agent is liable for damage to your car and the new agent for personal injuries

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