Module 4 Review (Personal Finance)

Using the table, imagine Kyeisha has Insurenta insurance for her car. She gets into an accident and the police determine it is her fault. She needs to spend time in the hospital due to injuries from the accident. Her medical bills are $8,000. How much will Insurenta pay towards Kyeisha's medical bills?

• $3,500

• $8,000

• $4,500

• $5,000

The amount of money you are charged for your insurance policy.

• the coverage limit

• the premium

• the co-pay

• the deductible

Imagine you get sick and you need a surgery that will cost $20,000. Your insurance company says you must pay the first $500 and they will pay the rest. The $500 payment you must make is called the...

• premium

• co-pay

• coverage limit

• deductible

According to the state of Tennessee, which type of auto insurance coverage you are required to have if you own a vehicle?

• Comprehensive

• Liability

• Collision

• Personal Injury Protection

Use the following scenario to answer the question:

​Jackson has an insurance policy with a premium of $150 per month. In June, he’s in an accident and receives a bill with a total cost of $6000. His deductible is $1500, and his coverage limit is $4000.

​

​How much total money will Jackson have to pay in the month of June?

• 2150

• 1500

• 1650

• 4000

Use the following scenario to answer the question:

Jackson has an insurance policy with a premium of $150 per month. In June, he’s in an accident and receives a bill with a total cost of $6000. His deductible is $1500, and his coverage limit is $4000.

​Assume Shanae has the same exact accident, but her monthly premium she pays for the insurance policy is $250. Would you expect Shanae’s deductible to be higher, lower, or the same as Jackson’s?

• The Same

• Higher

• Lower

A ___________________________ is the maximum amount your insurance policy will reimburse you for a covered loss.

• Credit Maximum

• Coverage Limit

• Deductible Limit

• Premium Maximum

Multiple Select:

​Select three factors which impact the premium for Renter's Insurance.

• Credit History

• Number of Units in the Building

• Cat breed

• Value of Your Possessions

• If previous tenants had insurance

​​Auto insurance rates drop consistently until a driver reaches what age?

• 30

• 70

• 18

• 60

​Roughly how much more does auto insurance cost for a 16 year old compared to a middle aged (45 year old) driver?

• $8,226

• $1,929

• $6,297

• $6,095