Insurance and Charitable Contributions Quiz

What is a deductible in insurance?

• Coverage for all sums that the insured becomes legally obligated to pay

• The written contract of insurance

• The amount of money an insurance company charges for insurance coverage

• Amount of money you have to pay before the insurance will pay

What is the main benefit of charitable giving?

• A feeling of joy that comes with helping society

• Legal requirements (e.g., auto insurance)

• Money out of pocket

• Coverage of unexpected expenses

What does comprehensive insurance cover?

• The amount of money an insurance company charges for insurance coverage

• Theft, vandalism, glass and windshield damage

• Accidents with animals, weather, or other acts of nature

• Fire, accidents with animals, weather, or other acts of nature

What is the purpose of life insurance?

• Coverage for all sums that the insured becomes legally obligated to pay

• A feeling of joy that comes with helping society

• Provides financial protection against overwhelming medical expenses

• Financial protection for a family in case the main source of income dies

What is the main benefit of buying insurance?

• A feeling of joy that comes with helping society

• Legal requirements (e.g., auto insurance)

• Coverage of unexpected expenses

• Money out of pocket

What is the purpose of nonprofit organizations?

• A legal organization providing services or activities without commercial or monetary gain

• A feeling of joy that comes with helping society

• Organized for purposes other than earning a profit

• Coverage for all sums that the insured becomes legally obligated to pay

What is the coverage of personal injury in auto insurance?

• Auto insurance coverage that pays for your own medical care, lost wages and other related expenses

• Coverage for all sums that the insured becomes legally obligated to pay

• Amount of money you have to pay before the insurance will pay

• The amount of money an insurance company charges for insurance coverage

What is the main disadvantage of car insurance for young people?

• Coverage for all sums that the insured becomes legally obligated to pay

• Cost less for younger drivers

• No disadvantage for young drivers

• More expensive for young people especially males

What is the purpose of reporting a claim in insurance?

• The amount of money an insurance company charges for insurance coverage

• Contact your insurance provider to report your accident

• Amount of money you have to pay before the insurance will pay

• Coverage for all sums that the insured becomes legally obligated to pay

What is the purpose of tax benefits in charitable giving?

• Coverage of unexpected expenses

• A feeling of joy that comes with helping society

• Depending upon your level of income, you may be able to deduct all or part of your donations from your personal income taxes

• Money out of pocket