WorksheetsMs. B Mays Insurance
Total questions: 31
Worksheet time: 16mins
Which types of insurance are most appropriate for a single, working, 24-year-old? (hint: choose 3 correct answers)
Health insurance
Disability insurance
Life insurance
Auto insurance
The federal agency that oversees insurance companies is
The Federal Trade Commission
The Department of Transportation
The Consumers Union
Insurance companies are regulated on a state-by-state basis
What role does insurance play in financial planning?
It guarantees that income and assets are protected
It helps build and maintain one's credit score
It helps cover day-to-day expenses
It grows in value and appreciates over time
The out of pocket cost to the insured when a loss occurs is called...
Premium
Deductible
This professional analyzes statistics and uses them to calculate risks and premiums.
Agent
Actuary
Claims Clerk
Underwriter
A stone hits your windshield. Which type of coverage would likely cover this expense?
Collision
Liability
Comprehensive
None
What factors impact the cost of your auto insurance premium? (hint: choose 3 correct answers)
Deductible amount
The vehicle you are insuring
Your credit score
Your income
Which of the following wouldn't save you money on your auto insurance premium?
Decrease your deductible
Reduce or eliminate optional insurance on an older vehicle
Maintain a good credit history
Bundle your insurance with other policies
Which of the following wouldn't save you money on your auto insurance premium?
Decrease your deductible
Reduce or eliminate optional insurance on an older vehicle
Maintain a good credit history
Bundle your insurance with other policies
Jennifer has an auto policy of $20,000/$40,000/$10,000. The $10,000 covers
Per person bodily injury
Property damage per occurrence
Per occurrence bodily injury limit
Total amount of insured coverage
A policy is a contract between the
Policyholder and the injured person
Driver and the government
Consumer and the insurance company
Consumer and the insurance agent
Under current law, until what age can a child stay on their parents' health insurance?
18
21
26
29
Your health insurance copay is
Amount paid out of pocket before your insurance coverage
Paid by the insurer
Applied on an annual basis
A fixed amount of money you pay each time you use your plan
How can you obtain health insurance? (hint: choose 2 correct answers)
Buying directly from an insurance agent
Shopping on the Health Insurance Marketplace
Signing up at your family doctor's office
Remaining on your parents' plan if you are under age 30
Which of the following would be covered under a renter's insurance policy?
Damage to the exterior of the property
Medical bills of another person who is injured on the property
Your roommate's personal belongings in the rental unit
Damage to a detached shed on the property
The FDIC insured deposit limit is
$150,000
$200,000
$250,000
$300,000
What information is typically listed on an insurance policy? (hint: choose 3 correct answers)
Name of person or property being insured
Actual Cash Value of the property being insured
Deductible amounts
The policy period
True or False: Insurance is based on the concept of shared risk, or risk pooling.
True
False
Which is TRUE about Social Security? (hint: choose 3 correct answers)
It replaces the need for health and life insurance
It replaces part of your income when you retire
It replaces part of your income if you become disabled
It replaces part of your income if you die leaving survivors
What is the average monthly renter's insurance premium cost in the U.S.?
$150/month
$90/month
$40/month
$15/month
Which insurance coverage is required by law? (hint: choose 2 correct answers)
Homeowners insurance
Auto insurance
FDIC
Disability insurance
