Insurance Basics Quizs

What is it called when employees help pay for life insurance?

• Contributory plan

• Non-contributory plan

• Term life insurance

• Whole life insurance

Who needs life insurance the most?

• A single mom with three children

• A young professional with no dependents

• A retired couple with a stable income

• A college student living alone

If you have a $500 deductible and pay $50 per day for 6 hospital days, how much do you owe total?

• $600

• $700

• $800

• $900

Which insurance is required by law in most states?

• Health insurance

• Homeowners insurance

• Auto insurance

• Life insurance

If your deductible is $750 and you have $3,600 in damage, what do you pay?

• $500

• $750

• $1,200

• $3,600

What type of insurance is most important for teens?

• Car insurance

• Homeowners insurance

• Health insurance

• Life insurance

How does insurance support your financial plan?

• It protects your income and assets

• It increases your expenses

• It guarantees high returns on investments

• It eliminates all financial risks

If someone falls on your icy driveway, that’s an example of:

• A liability

• A benefit

• An asset

• A risk

Who is a good candidate for a High Deductible Health Plan with HSA?

• Someone young, single, and healthy (e.g., Amanda with no conditions)

• A family with multiple children and chronic health issues

• An elderly person with several medical conditions

• A person who frequently visits the doctor for check-ups

When is it the right time to get car insurance?

• When you start driving and/or own a vehicle

• Only when you have a traffic violation

• After you have been driving for five years

• When you plan to sell your vehicle