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Insurance Review

Total questions: 55

Worksheet time: 38mins

Name
Class
Date
1.

Which of the following wouldn't save you money on your auto insurance premium?

a)

Decrease your deductible

b)

Reduce or eliminate optional insurance on an older vehicle

c)

Maintain a good credit history

d)

Bundle your insurance with other policies

2.

What type of auto insurance covers damage to your car from events like theft, vandalism, or natural disasters?

a)

Liability Insurance

b)

Collision Insurance

c)

Comprehensive Insurance

d)

Personal Injury Protection

3.

Which type of auto insurance is mandatory in most states and covers damages you cause to other people and their property?

a)

Uninsured Motorist Coverage

b)

Liability Insurance

c)

Collision Insurance

d)

Comprehensive Insurance

4.

What factor is NOT typically considered when determining your auto insurance premium?

a)

Your driving record

b)

The color of your car

c)

Your age

d)

Your location

5.

How does a higher deductible affect your auto insurance premium?

a)

It increases the premium

b)

It decreases the premium

c)

It has no effect on the premium

d)

It doubles the premium

6.

Which of the following is a factor that can increase your auto insurance premium?

a)

Having a clean driving record

b)

Owning a car with advanced safety features

c)

Living in a high-crime area

d)

Being over 25 years old

7.

What is the term for the amount you pay out of pocket before your insurance covers the rest of a claim?

a)

Premium

b)

Deductible

c)

Coverage Limit

d)

Co-pay

8.

Which type of auto insurance would cover medical expenses for you and your passengers after an accident, regardless of who is at fault?

a)

Liability Insurance

b)

Collision Insurance

c)

Personal Injury Protection

d)

Comprehensive Insurance

9.

If you are involved in an accident with an uninsured driver, which type of coverage would protect you?

a)

Collision Insurance

b)

Uninsured Motorist Coverage

c)

Comprehensive Insurance

d)

Liability Insurance

10.

What is the primary purpose of collision insurance?

a)

To cover damages to your car from non-collision events

b)

To cover damages to other people's property

c)

To cover damages to your car from a collision

d)

To cover medical expenses

11.

Which of the following factors can lead to a discount on your auto insurance premium?

a)

Having multiple speeding tickets

b)

Installing anti-theft devices in your car

c)

Living in a densely populated city

d)

Driving a high-performance sports car

12.

What does a deductible of $500 mean in an auto insurance policy?

a)

You pay $500 annually for your insurance

b)

You pay the first $500 of any claim

c)

You receive a $500 discount on your premium

d)

Your insurance covers the first $500 of any claim

13.

Which type of auto insurance is specifically designed to cover damages caused by a driver who does not have sufficient insurance?

a)

Collision Insurance

b)

Underinsured Motorist Coverage

c)

Comprehensive Insurance

d)

Liability Insurance

14.

How does your credit score typically affect your auto insurance premium?

a)

A higher credit score usually increases the premium

b)

A higher credit score usually decreases the premium

c)

Credit score has no effect on the premium

d)

A lower credit score usually decreases the premium

15.

You have an auto policy with a collision coverage limit of $15,000 and a deductible of $750. You get into an accident and the damages to your car total $14,000. How much will will you need to pay to get your car fixed?

a)

Nothing - the damage is under the limit

b)

$14,000

c)

$13,250

d)

$750

16.

What is the main benefit of bundling your auto insurance with other types of insurance policies?

a)

It increases your coverage limits

b)

It simplifies the claims process

c)

It often results in a discount on your premiums

d)

It provides additional types of coverage

17.

Which factor is most likely to result in a higher auto insurance premium?

a)

Owning a hybrid vehicle

b)

Having a history of traffic violations

c)

Being a member of a carpool

d)

Living in a rural area

18.

What does renters insurance typically cover?

a)

Only the building structure

b)

Personal property and liability

c)

Flood damage

d)

Automobile damage

19.

Which of the following is NOT usually covered by renters insurance?

a)

Theft of personal belongings

b)

Damage from a fire

c)

Earthquake damage

d)

Liability for injuries to others

20.

How can you lower your renters insurance premium?

a)

By increasing your coverage limits

b)

By installing safety devices like smoke detectors

c)

By living in a high-crime area

d)

By filing frequent claims

21.

_____ protects you if you're the victim of a hit-and-run accident.

a)

Collision Insurance

b)

Uninsured/Underinsured Motorist Protection

c)

Personal Injury Protection

d)

Liability Insurance

22.

What is the key difference between homeowners insurance and renters insurance?

a)

Homeowners insurance covers personal property, while renters insurance does not.

b)

Renters insurance covers liability, while homeowners insurance does not.

c)

Homeowners insurance covers the dwelling, while renters insurance does not.

d)

Renters insurance covers the dwelling, while homeowners insurance does not.

23.

What type of coverage in homeowners insurance covers you if someone sues you after getting hurt while on your property?

a)

Loss of use coverage

b)

Liability coverage

c)

Personal property coverage

d)

Dwelling coverage

24.

What does personal property coverage in homeowners insurance cover?

a)

Loss of use coverage

b)

Liability coverage

c)

Personal belongings

d)

Roof, walls, floors, etc.

25.

What do homeowners insurance and renters insurance both have?

a)

Coverage for natural disasters

b)

Coverage for the structure of the home

c)

No coverage for personal belongings

d)

Deductibles

26.

Homeowners insurance is NOT required by law.

a)

True

b)

Flase

27.

Who needs homeowners insurance?

a)

Everyone

b)

Someone who is looking to buy a home

c)

People who own homes and have a mortgage

d)

People who work from home

28.

Can homeowners insurance rates vary depending on the location of the home?

a)

Yes

b)

No

29.

Can the age of your home affect your homeowners insurance rates?

a)

Yes

b)

No

30.

Which term is given to the formal request made to an insurance company for compensation for a covered loss

a)

Filing a claim

b)

Filing a benefit

c)

Filing a Co-Payment

d)

Filing a deductible

31.

Which type of insurance is typically the most expensive to have?

a)

Renters

b)

Life

c)

Health

32.

Which type of insurance will pay a portion of your income while you can't work because you are sick or injured?

a)

Renters insurance

b)

Disability Insurance

c)

Life Insurance

d)

Homeowners Insurance

33.

If someone falls on your property, does your homeowners insurance cover that?

a)

yes

b)

no

34.

Which college student is MOST likely to need their own renters insurance policy?

a)
Abigail, who lives with her parents and commutes to college
b)
Beatrice, who is a freshman living in a dorm and whose mom has homeowners insurance
c)
Carson, who is a senior living in a dorm and whose guardians have homeowners insurance
d)
Dani, who lives in an off-campus apartment with her cousin and a friend
35.

Karishma has a renters insurance policy with a coverage limit of $25,000. While she’s on vacation a fire breaks out, ruining $9,000 worth of possessions before the fire department puts it out. Her deductible is $500. How much will Karishma and the insurance company each pay?

a)
Karishma pays $0, while the insurance company pays $500
b)
Karishma pays $0, while the insurance company pays $9,000
c)
Karishma pays $500, while the insurance company pays $8,500
d)
Karishma pays $500, while the insurance company pays $24,500
36.

What are the top three reasons people are most likely to get into a car accident?

a)

drunk driving

b)

speeding/racing

c)

weather/road conditions

d)

distracted driving

37.
Co-insurance
a)
Treatment of conditions not covered by the insurance policy
b)
Percentage of the allowed amount that is the patients responsibility (for instance, the 20% not covered by insurance)
c)
Fee paid for the health insurance coverage
d)
A policy purchased by an individual
38.
A 30 year woman broke her arm and went to the ER 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 resoponsible for paying, $1,500 of her medical expenses before her insurance starts to pay
d)
Her insurance company will only pay $1,500 and she must pay the rest
39.

A(n) _________ is the amount of money you must pay each year before your insurance company starts paying

a)

co-payment

b)

co-insurance

c)

deductible

d)

out of pocket maximum

40.

_______________ requires you to pay either a set amount or a certain percent of medical expenses

a)

co-insurance

b)

co-payment

c)

life term

d)

term life

41.

A(n) ____________ is a predetermined flat fee you pay for health care services

a)

co-insurance

b)

whole life

c)

co-payment

d)

term

42.
Maximum Out-Of-Pocket
a)
Maximum amount of money you will be required to pay each year for deductibles, copayments, and coinsurance. 
b)
Way a health care system manages its costs and uses its resources.
c)
Amount of money that an individual must pay for an insurance policy.
43.
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
44.

Sam isn't feeling well today. He decides to go to a walk-in clinic (UC) after work. How much will this cost?

a)

$15

b)

$150

c)

$50

d)

$0

45.

Robbie broke his arm. How much would this cost him for an orthopedic doctor's appointment?

a)

$25

b)

$40

c)

$65

d)

Information not found on card

46.

Joe just turned 65. What kind of insurance can he get now?

a)

Tri-care

b)

Medicare

c)

Medicaid

d)

Life

47.

Insurance for low income families and disabled

a)

Medicare

b)

Medicaid

c)

Tricare

d)

Public

48.

Ramiro works in a company where the annual cost for group insurance is $4,500. The company pays 80% of this cost. How much does Ramiro need to pay monthly for his group insurance?

a)

$75

b)

$95

c)

$366.67

d)

$900.00

49.

How can you get covered by health insurance?

a)

Through your job

b)

Through your partners job

c)

Through outside plans

d)

You are always covered since birth

50.

Who gets your death benefit once you die?

a)

Insurance Company

b)

Business Partner

c)

Your Beneficiaries

d)

Your Pets

e)

Charity

51.

Which type of health insurance plan does not require referrals to see specialists?

a)

HMO plans

b)

PPO plans

c)

POS Plans

d)

Short-term health plans

52.

What might a plan with higher out-of-pocket costs and lower monthly premiums be better suited for?

a)

Individuals planning to have a baby

b)

Individuals with chronic conditions

c)

Individuals who frequently visit doctors

d)

Individuals in good health who rarely see a doctor

53.

You can stay on your parents health insurance until what age?

a)

18

b)

21

c)

25

d)

26

54.

Can you have both Medicare and Medicaid?

a)

Yes

b)

No

55.

What type of car insurance claim is the most common?

a)

hit and run

b)

car-deer

c)

collision

d)

theft

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