Dave Ramsey Chapter 9

1)  Which of the following would not be a huge financial risk (and, therefore would not require insurance) if you had a full emergency fund of $500 or more?

• You lose your cell phone
• A medical emergency
• Your identity gets stolen
• A car accident

1)  The time between the disabling event and the beginning of payments in your disability coverage is called:

• Decutible
• Out of Pocket
• Elimination Period
• Stop Gap

Life insurance policy for a specific period of time is called:

• Universal
• Level
• Term
• Whole Life

 The purpose of insurance is to:

• Develop a savings plan
• Transfer financial risk
• Provide an investment opportunity
• All of the above

 Which of the following is not a recommended way of lowering your car insurance premiums?

•  Get good grades and take a driver education class
•  Drop your auto insurance altogether
•  Increase your deductible
• Shop Around

 Which of the following types of insurance is not recommended for a young single adult?

• Auto Insurance
• Identity Theft Insurance
• Health Insurance
• Life Insurance

Which of the following is not a recommended way to save on your health insurance premium?

• Increase your deductible
•  See if a Health Savings Account would make sense for your situation.
•  If you are young and healthy, you do not need health insurance.
• Increase your stop-loss or your maximum out-of-pocket expense

Comprehensive coverage takes care of damage to your car that is not caused by a collision.

• True
• False

After high school, you should have the following types of insurance: auto, renterʹs, health and long-term care insurance

• True
• False

Following the Five Foundations will help you to, one day, become self-insured.

• True
• False