Question 1

An insurance company usually assigns more complex loss cases to a:

Accepted Answer

A)  captive insurance agent. 
B)  claims adjustor. 
C)  Chartered Property and Casualty Underwriter (CPCU). 
D)  Certified Insurance Counselor (CI
C) . 
E)  court investigator. 
A)  captive insurance agent. 
B)  claims adjustor. 
C)  Chartered Property and Casualty Underwriter (CPCU). 
D)  Certified Insurance Counselor (CI
C) . 
E)  court investigator.

Question 2

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. 
If a rock thrown from a semi-truck cracks the windshield on your car, payment will come from your [ collision | comprehensive ] protection.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 3

Standard homeowner's policies will not include coverage for damage done by:

Accepted Answer

A)  fire. 
B)  flood. 
C)  lightning. 
D)  wind. 
E)  glass breakage. 
A)  fire. 
B)  flood. 
C)  lightning. 
D)  wind. 
E)  glass breakage.

Question 4

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. 
Property insurance companies require you to show [ proof of loss | a personal property inventory ] when making a claim.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 5

Suppose you carelessly, but unintentionally, knocked someone down a flight of stairs in your home. You would be covered by your homeowner's insurance.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following homeowner's policies provides coverage for the damage caused by the accidental discharge of water or steam?

Accepted Answer

A)  HO-7 
B)  HO-2 
C)  HO-8 
D)  HO-9 
E)  HO-1 
A)  HO-7 
B)  HO-2 
C)  HO-8 
D)  HO-9 
E)  HO-1

Question 7

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. 
Medical payments coverage [ would | would not ] pay for the medical bills of passengers in your car who are not related to you.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 8

Never discuss liability at the scene of an accident or with anyone other than the police and your insurer.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a basic, seldom-used homeowner's policy with relatively narrow coverage?

Accepted Answer

A)  HO-1 
B)  HO-2 
C)  HO-3 
D)  HO-4 
E)  HO-6 
A)  HO-1 
B)  HO-2 
C)  HO-3 
D)  HO-4 
E)  HO-6

Question 10

Comprehensive automobile coverage refers to:

Accepted Answer

A)  complete coverage including liability, medical payments, and damage to the automobile. 
B)  coverage for damage to an insured automobile from perils (with a few exceptions) other than collision. 
C)  coverage that adds items of personal property, such as CB radios and telephones, that are ordinarily excluded. 
D)  coverage for bodily injuries suffered in an automobile accident. 
E)  coverage for damage due to a multi-car collision. 
A)  complete coverage including liability, medical payments, and damage to the automobile. 
B)  coverage for damage to an insured automobile from perils (with a few exceptions) other than collision. 
C)  coverage that adds items of personal property, such as CB radios and telephones, that are ordinarily excluded. 
D)  coverage for bodily injuries suffered in an automobile accident. 
E)  coverage for damage due to a multi-car collision.

Question 11

The best way to buy automobile insurance is through a(n):

Accepted Answer

A)  insurance agent. 
B)  state insurance commission. 
C)  auto dealer. 
D)  finance company. 
E)  bank. 
A)  insurance agent. 
B)  state insurance commission. 
C)  auto dealer. 
D)  finance company. 
E)  bank.

Question 12

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. 
Most homeowner's insurance policies [ include | exclude ] damage or loss caused by the backing up of sewers and drains.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 13

State financial responsibility laws require only automobile liability insurance.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following homeowner's policies is best suited to a renter of an apartment?

Accepted Answer

A)  HO-1 
B)  HO-2 
C)  HO-3 
D)  HO-4 
E)  HO-8 
A)  HO-1 
B)  HO-2 
C)  HO-3 
D)  HO-4 
E)  HO-8

Question 15

A captive agent typically represents 2 to 10 different insurance companies.

Accepted Answer

A) True 
 B)False

Question 16

John owns a 1998 Toyota Camry that has a value of $775. In order to save some money, he has decided not to purchase _____ as part of his personal automobile policy (PAP).

Accepted Answer

A)  Part A 
B)  Part B 
C)  Part C 
D)  Part D 
E)  Part E 
A)  Part A 
B)  Part B 
C)  Part C 
D)  Part D 
E)  Part E

Question 17

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. 
Section II of a homeowner's insurance policy covers [ personal property | personal liability of the insured ].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 18

Auto insurance is needed primarily:

Accepted Answer

A)  to finance automobile maintenance. 
B)  as protection against the cost of significant loss. 
C)  as a part of the homeowner's insurance requirements. 
D)  to counter the effects of increasing fuel prices. 
E)  to satisfy federal requirements for a lawful citizenship. 
A)  to finance automobile maintenance. 
B)  as protection against the cost of significant loss. 
C)  as a part of the homeowner's insurance requirements. 
D)  to counter the effects of increasing fuel prices. 
E)  to satisfy federal requirements for a lawful citizenship.

Question 19

The type of car you drive has little effect on your auto insurance premiums.

Accepted Answer

A) True 
 B)False

Question 20

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. 
Bill was the at-fault party when you and he collided. Your insurance company has paid for the damages to your car. Now, it intends to recover this money from Bill. This is the right of [ subrogation | indemnification ].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

An insurance company usually assigns more complex loss cases to a:

Standard homeowner's policies will not include coverage for damage done by:

Suppose you carelessly, but unintentionally, knocked someone down a flight of stairs in your home. You would be covered by your homeowner's insurance.

Which of the following homeowner's policies provides coverage for the damage caused by the accidental discharge of water or steam?

Never discuss liability at the scene of an accident or with anyone other than the police and your insurer.

Which of the following is a basic, seldom-used homeowner's policy with relatively narrow coverage?

Comprehensive automobile coverage refers to:

The best way to buy automobile insurance is through a(n):

State financial responsibility laws require only automobile liability insurance.

Which of the following homeowner's policies is best suited to a renter of an apartment?

A captive agent typically represents 2 to 10 different insurance companies.

John owns a 1998 Toyota Camry that has a value of $775. In order to save some money, he has decided not to purchase _____ as part of his personal automobile policy (PAP).

Auto insurance is needed primarily:

The type of car you drive has little effect on your auto insurance premiums.

Understanding the Financial Planning Process

Developing Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds and Real Estate

Planning for Retirement

Preserving Your Estate

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Exam 10: Protecting Your Property

An insurance company usually assigns more complex loss cases to a:

Standard homeowner's policies will not include coverage for damage done by:

Suppose you carelessly, but unintentionally, knocked someone down a flight of stairs in your home. You would be covered by your homeowner's insurance.

Which of the following homeowner's policies provides coverage for the damage caused by the accidental discharge of water or steam?

Never discuss liability at the scene of an accident or with anyone other than the police and your insurer.

Which of the following is a basic, seldom-used homeowner's policy with relatively narrow coverage?

Comprehensive automobile coverage refers to:

The best way to buy automobile insurance is through a(n):

State financial responsibility laws require only automobile liability insurance.

Which of the following homeowner's policies is best suited to a renter of an apartment?

A captive agent typically represents 2 to 10 different insurance companies.

John owns a 1998 Toyota Camry that has a value of $775. In order to save some money, he has decided not to purchase _____ as part of his personal automobile policy (PAP).

Auto insurance is needed primarily:

The type of car you drive has little effect on your auto insurance premiums.

Understanding the Financial Planning Process

Developing Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds and Real Estate

Planning for Retirement

Preserving Your Estate

Filters