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WorksheetsModule 7: Insurance Test Review
Total questions: 20
Worksheet time: 10mins
The fee paid by the policyholder is called a ____.
Policy
Deductible
Premium
Face Amount
Which is true about risk and insurance?
The higher the risk, the higher your insurance deductible
The higher the risk, the lower your insurance deductible
The higher the risk, the higher your insurance premium
The lower the risk, the higher your insurance deductible
Which of the following can help reduce insurance costs?
Increase deductibles
Purchase Group Insurance
Look for Discount Opportunities
All of the Above
If a car was damaged in a flood, which type of car insurance would typically cover the damage to the car?
Universal
Term
Disability
Comprehensive
If Duncan’s car was damaged by a hit-and-run driver or a driver without insurance, how will the cost of damage be covered?
Term Life Insurance
Comprehensive Insurance
Uninsured Motorist Coverage
Duncan will have to pay
Which coverage pays for injuries and damages to OTHERS only?
Comprehensive
Collision
Personal Injury Protection
Liability
The ____ is the individual who will receive the benefits of a life insurance policy.
Trustee
Beneficiary
Power of Attorney
Notary Public
Which type of insurance coverage would pay for damage incurred from backing into a grocery cart in a parking lot.
Medical
Collision
Personal Injury Protection
Liability
A type of health insurance that allows people who have lost their jobs to continue their health care is called ______?
FICA
HIPPA
COBRA
PYTHON
Which of these is insurance for a specified time only?
Term
Major Medical
Credit Life
Straight Life
Which of these is considered income protection insurance?
Term
Cash Value
Medicare
Disability
Social Security is considered this type of insurance?
OASDI
FBLA
OSHA
XYZ
_____ is a government-sponsored health insurance for people with low incomes and limited resources.
Social Security
COBRA
Medicare
Medicaid
_____ is a government-sponsored health insurance for people over the age of 65.
Social Security
COBRA
Medicare
Medicaid
A person had an Apple computer that was destroyed in a fire. She was able to buy a new Apple computer because she had _____.
a personal property floater with actual cash value
a personal property floater replacement value
a personal property floater limited risk.
a deduction on her taxes
Each time a person goes to the doctor, they have to pay a portion of the bill in the amount of $35 each time. This charge is referred to as their:
Deductible
Mutual Fund
Premium
Co-pay
A person goes to the hospital and the bill is $10,000. The most likely reason that the person would get a bill for $1,000 is because:
They have a $1,000 insurance deductible
They have $1,000 net income
They have a $9,000 coupon
They have a $1,000 exemption
By raising the deductible on car insurance coverage for collision from $200 to $400, the premium will be ______.
A lower amount
The same amount
A different amount each month
Billed monthly instead of annually
The relationship between the cost of homeowners insurance and the location of the home being insured is that the premiums are:
lower in neighborhoods with expensive homes
lower when there are fewer homes in the neighborhood
higher in neighborhoods that have natural disasters
high in neighborhoods that are highly populated
A 35-year-old mother of three children wants to buy a life insurance policy for herself. What will help her determine the dollar amount she needs?
The amount of auto collision insurance coverage she has
The health plan offered by her employer
The financial resources needed by her family should she die
The cost of repairing her house after a disaster
