WorksheetsInsurance- Personal Finance
Total questions: 37
Worksheet time: 20mins
The out of pocket cost to the insured when a loss occurs is called...
Premium
Deductible
A stone hits your windshield. Which type of coverage would likely cover this expense?
Collision
Liability
Comprehensive
None
A stone hits your windshield. Which type of coverage would likely cover this expense?
Collision
Liability
Comprehensive
None
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
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
Under current law, until what age can a child stay on their parents' health insurance?
18
21
26
29
True or False: Insurance is based on the concept of shared risk, or risk pooling.
True
False
What is the relationship between premiums and deductibles?
As one goes up, the other goes up.
As one goes up, the other goes down.
There is no relationship.
What part of your insurance covers another's car or body in case your injure them.
Collision
Comprehensive
Underinsured
Liability
You are hit by another driver. He carries $30,000 in liability coverage, but the damage to your convertible is $40,000. What type of policy would you need to insure that he insurance will pay the entire amount?
Collision
Liability
Underinsured
Bodily Injury
Who has cheaper life insurance rates?
Men
Women
Who pays more for car insurance?
Men
Women
Which of these is covered by a standard homeowner policy?
Flood
Vandalize
Earthquake
Hurricane
The person to whom an insurance policy is issued.
Agent
Salesman
Broker
Policyholder
A payment made monthly, twice a year, or yearly, for an insurance policy.
Premium
Copay
Tax
Benefit
Chance or possibility of injury, damage, or loss that someone may want an insurance policy to cover.
Debt
Risk
Premium
Agent
_______ _________ insurance also known as permanent life insurance, offers financial protection for your entire life
term life
whole life
universal life
life
If you get into a car accident, your _______________ may increase because you will be considered riskier for
insurance companies to cover.
insurance premium
claims adjustment
car loan payment
taxes
What will collision insurance cover in the event of an accident?
Damage to someone else’s car
Damage to your car
Damage to someone else’s property
Bodily injuries
What is a consequence of not having health insurance?
You must pay all costs for health care and medical emergencies.
You’re not allowed to go to a hospital.
You will get a lower standard of care from doctors.
You can only see doctors in your home state.
All of the following are true about health insurance except:
Purchasing health care can help save you from medical bankruptcy.
Health insurance decreases your healthcare costs.
Health insurance decreases your healthcare costs.
Being young and healthy means you can skip out on health insurance.
Which type of insurance is employer sponsored.
Group
Individual
What group of people is covered under Medicare?
individuals over age of 65
children of low income families under age of 18
any US citizen
individuals with disabilities
Medicaid insurance takes care of people....
Who are over 65 in nursing homes
Who are low-income
