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WorksheetsInsurance
Total questions: 36
Worksheet time: 36mins
Name
Class
Date
1.
Paperwork filed with an insurance company in order to get them to cover a loss for someone they insure.
a)
Coverage
b)
Claim
c)
Liability
d)
Policy
2.
Amount you pay monthly, quarterly, semiannually, or annually to purchase different types of insurance.
a)
Deductible
b)
Coverage
c)
Premiums
d)
Coverage Limit
3.
A higher deductible results in...
a)
A higher premium
b)
A lower premium
c)
Tax savings
d)
None of these
4.
Taking a driver's education course may result in a...
a)
Higher premium
b)
Lower premium
c)
Later curfew
d)
Loss of coverage
5.
Amount you have to pay out of pocket for expenses before the insurance company will begin to cover all or a portion of the remaining costs.
a)
Premium
b)
Deductible
c)
Policy
d)
Coverage Limit
6.
The only way to get health insurance is through an employer.
a)
True
b)
False
7.
A 30-year old woman broke her arm and went to the emergency room for treatment. Her health insurance plan has a $1,500 deductible. What does this mean?
a)
She can deduct $1,500 from the hospital bill, but must pay the rest.
b)
The hospital will only charge her $1,500
c)
She is responsible for paying $1,500 of her medical expenses before her insurance policy starts to pay
d)
Her insurance company is responsible for paying $1,500 and she must pay the rest.
8.
How would you get a lower insurance deductible?
a)
Pay a lower monthly premium
b)
Pay a higher monthly premium
9.
The purpose of insurance is to transfer risk to someone other than the policy-holder.
a)
True
b)
False
10.
Renter's insurance will cover the damage done to the apartment building you are renting.
a)
True
b)
False
11.
A young married dad is applying for life insurance. Which of the following factors is NOT used to determine how much he'll pay for the insurance?
a)
His level of physical health
b)
His age
c)
Where he lives
d)
His hobbies
12.
Can life insurance companies charge smokers more money for life insurance than nonsmokers?
a)
Yes
b)
No
13.
Which of the following people do you think would need life insurance the most?
a)
A single working mom with 2 kids
b)
A single college grad without dependents starting his new job
c)
A single wealthy businesswoman without dependents
d)
An eledery retired man with a wife who is also retired
14.
The type of insurance that provides protection against financial loss from medical bills is called...
a)
Health insurance
b)
Coinsurance
c)
Life insurance
d)
Premium
15.
Insurance that protects your family against financial loss due to your death is...
a)
Coinsurance
b)
Disability insurance
c)
Life insurance
d)
Comprehensive insurance
16.
Of the four parts of auto insurance coverage, which part will pay for repairing your car?
a)
Liability
b)
Comprehensive
c)
Collision
d)
Medical Payments/Bodily Injury
17.
Of the four parts of auto insurance coverage, which part will pay for injuries to passengers or pedestrians and funeral expenses?
a)
Medical Payments/Bodily Injury
b)
Collision
c)
Comprehensive
d)
Liability
18.
Of the four parts of auto insurance coverage, which part protects your from acts of God?
a)
Comprehensive
b)
Liability
c)
Collision
d)
Medical Payments/Bodily Injury
19.
Of the four parts of auto insurance coverage, which part protects only the other person involved in an accident?
a)
Liability
b)
Comprehensive
c)
Collision
d)
Medical Payments/Bodily Injury
20.
Students can get health coverage under their parents policy until the age of
a)
23
b)
21
c)
26
d)
28
21.
If a driver receives several traffic tickets, the cost of the car insurance will probably
a)
increase
b)
decrease
c)
stay the same
d)
be billed monthly
22.
Car insurance is more expensive for teenage males than teenage females because studies have shown that
a)
Male teenagers have a greater number of accidents than female teenagers.
b)
More male teenagers take driver education classes than female teenagers.
c)
Female teenagers do not drive often.
d)
Female teenagers frequently own their cars.
23.
Social Security is a social insurance program that provides benefits to the elderly and disabled.
a)
True
b)
False
24.
You have reached your $5000 out-of-pocket limit. You need to go to the emergency room and it cost $1700. How much will your insurance pay?
a)
$1700
b)
$0
c)
$1360
d)
$5000
25.
What is the definition of out-of-pocket maximum?
a)
The amount of money your pockets can hold
b)
The deductible you have to pay for insurance
c)
Maximum money you can pay out of pocket before insurance pays the rest
d)
The amount of money you pay to your insurance company every month
26.
Your health insurance has a $2000 deductible and a $100 per day co-payment for hospital stays. You get sick and are hospitalized for 2 days. The bill comes to $4000. How much of this bill do you have to pay?
a)
$2000
b)
$4000
c)
$2200
d)
$1800
27.
Which of these would renter's insurance NOT cover?
a)
A fire destroys a renters belongings
b)
Someone breaks into a renters apartment and stills their television
c)
A hurricane damages the roof on a home you are renting
d)
Smoke damage from a fire ruins many of your belongings
28.
Brittany is having a party at her apartment and SHE trips over a lamp cord, falling and spraining her ankle. SHE goes to the hospital and decides she needs to file an insurance claim. Which of the following types of insurance would cover BRITTANY'S medical bills?
a)
Brittany’s renter’s insurance
b)
Brittany’s extended warranty on the lamp
c)
Brittany’s health insurance
d)
Insurance will not cover this - Sabrina will need to pay out of her own pocket
29.
You decide to purchase renter's insurance. Which of these would NOT be covered by a standard policy?
a)
Your friend’s stitches, if she hits her head on your kitchen cabinet
b)
Your car, if it’s parked on the street outside your apartment
c)
Your laptop, if it’s stolen during a break-in
d)
Replacement clothes, if yours are burned in a dorm fire
30.
Which of the following is not a method for obtaining health insurance?
a)
Joining your parent's plan if you are under 26
b)
Buying directly from an insurance agent
c)
Shopping on the Health Insurance Marketplace
d)
Signing up at your doctor's office
31.
Which automobile policy do you believe will have the highest premium (all other factors being equal)?
a)
$1000 Deductible
b)
$500 Deductible
c)
$2000 Deductible
d)
$2500 Deductible
32.
You decide to get renter's insurance to cover the personal possessions in your apartment. The agent asks you how much coverage you need. How would you determine this figure?
a)
Calculate the value of the most expensive possession that you keep in your apartment
b)
Take an inventory of all of your possessions in your apartment and estimate their value
c)
Ask the landlord for an estimate of the value of the apartment
d)
Ask the agent what the average cover amount for most people is
33.
Marcus rear-ends the car in front of him. Both cars pull to the side of the road, and the other driver gets out. Which of the following things SHOULD Marcus NOT do in response to the accident to set himself up to have a successful insurance claim?
a)
Get the other driver's insurance company name, policy number, and contact information
b)
Provide his insurance company name, policy number, and contact information
c)
Take photographs and get statements from any witnesses about what happened
d)
Exchange information on the coverage types and limits of their policies
34.
Which of the following would NOT be considered examples of insurance fraud?
a)
Reporting your car was broken into when you find the window smashed after parking it overnight
b)
Claiming that you had an expensive coin collection in your house that burned down to increase the value of your belongings
c)
Misplacing your cellphone and reporting it was stolen
d)
Complaining of non-existent back pain from a car accident
35.
Your health insurance plan has a $30 copay for certain covered prescription medications. You arrive at the pharmacist and pick up your prescription (which is covered under your plan) which has a list price of $125. How much would you pay the pharmacy?
a)
$0
b)
$125
c)
$30
d)
$75
36.
What type of auto insurance are you required to carry in almost every state?
a)
Insurance if you damage your own property
b)
Insurance if you cause injury to another person AND Insurance if you damagethe other person's property
c)
Insurance if you cause injury to yourself
d)
Insurance in case you get into an accident with someone who does not have insurance
Insurance in case you get into an accident with someone who does not have insurance
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