WorksheetsPFM Chapter 14 Review
Total questions: 20
Worksheet time: 10mins
Insurance guarantees that you will have no financial losses
True
False
A poor driving record an increase your premiums
True
False
In case of fire, it is a good idea to have a household inventory stored in a safe deposit box
True
False
It is better to not call the police to investigate an accident when no one is injured
True
False
Males under the age of 21 will pay less for auto insurance than females under 21
True
False
Vehicles that have a higher risk of theft have higher auto insurance premiums
True
False
An umbrella policy provides additional liability protection beyond that included in a policy.
True
False
Increasing a deductible amount should decrease premiums
True
False
Fraudulent claims have no effect on the costs of providing insurance protection
True
False
To insure something, it must be something that , if lost, would not cause you financial harm
True
False
A regular payment required to purchase insurance is a
premium
bond
bid
benefit
An expert's determination of the value of a piece of property is known as a(n)
premium
appraisal
claim
critique
An insurance contract is a(n)
policy
invoice
warranty
lease
The amount an item is currently worth is it's
insurance value
wholesale value
market value
replacement value
The amount you pay for a loss before the insurance company pays anything is known as a
deductible
risk
coverage
installment
Insurance that pays for damage to your car caused by something other than a collision is called
comprehensive
medical
collision
no fault
A special addition to a policy that covers a specific loss not covered in the standard policy
rider
point
deductible
option
The insurance that covers your own car when in an accident that is your fault
comprehensive
liability
collision
no fault
Insurance that pays for damage you caused to another vehicle is called
no fault
property damage liability
comprehensive
collision
The three basic types of consumer insurance are property, liability, and ______________
deductible
personal
medical
comprehensive
