Exam 9: Risk Management

Al Lize, who lives in territory 5, carries 10/20/5 compulsory liability insurance, along with optional collision that has a $100 deductible. Al, who was at fault in an accident, caused $2,200 damage to the other auto and $900 damage to his own car. Also, the courts awarded $18,000 and $9,000, respectively, to the two passengers in the other car for personal injuries. How much does the insurance company pay, and what is Al's share of the responsibility? Insurance company $22,000; Al pays $8,100

(Short Answer)

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Question 101

Melissa Sorez, age 42, takes out a $300,000 five-year term insurance policy. What is her annual premium? At the end of three years, what is the amount of cash value that has built up?

(Short Answer)

4.7/5

(87)

Question 102

The cash value of a life insurance policy is a cheap source of money.

(True/False)

5.0/5

(91)

Question 103

(Short Answer)

4.7/5

(72)

Question 104

All premiums for universal life remain the same.

(True/False)

4.9/5

(85)

Question 105

Showing 101 - 105 of 105

Melissa Sorez, age 42, takes out a $300,000 five-year term insurance policy. What is her annual premium? At the end of three years, what is the amount of cash value that has built up?

The cash value of a life insurance policy is a cheap source of money.

All premiums for universal life remain the same.

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