
Insurance Test Review
Authored by Stacie Segars
Other
9th - 12th Grade
Used 2+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an insurance premium?
Your monthly payment to your insurer, regardless of whether you use any services
A list of the procedures covered by your insurance carrier
An added cost you pay in order to receive higher-quality services
The amount you pay out-of-pocket for a specific procedure or service
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to an arrangement where you are responsible for paying a percentage of covered medical expenses after your deductible is met?
Deductible limit
Premium
Out-of-network fees
Co-insurance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What statement below best describes Social Security?
Every American decides how much they want to contribute each paycheck, and they will receive their money back once they retire
Everyone pays Social Security taxes when they are working and can collect benefits in retirement
The Social Security benefits are designed to be the sole source of income for all retired Americans to live comfortably
Everyone pays into Social Security and low-income Americans collect benefits to supplement their income
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you have an auto insurance policy and don't get into a car accident or file any claims for a year, you get your premiums back from the insurance company.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your renter's insurance policy costs $20/month and has a $1,000 deductible. A thief breaks into your apartment and steals your $800 TV set. How much would your insurance company owe you?
$0
$200
$240
$800
$1,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which automobile policy do you believe will have the highest premium (all other factors being equal)?
Auto policy with $250 deductible
Auto policy with $500 deductible
Auto policy with $1,000 deductible
Auto policy with $2,500 deductible
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
While parked on the street overnight, the passenger window in Sam's car was knocked out by someone trying to break in. Which type of auto insurance coverage will help cover the cost to get the window replaced?
Liability
Collision
Comprehensive
None. Typically this type of damage isn't covered in an auto policy
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