Question 1

Which is the best advice about shopping for car insurance in provinces where there are private insurers?

Accepted Answer

A) Shop online for insurance before you start to shop for a car. 
B) Ask friends and family where to get the best rates. 
C) Ask at the car dealership while waiting for the delivery of your car. 
D) Use the agent recommended by the car dealer as prices rarely vary. 
A) Shop online for insurance before you start to shop for a car. 
B) Ask friends and family where to get the best rates. 
C) Ask at the car dealership while waiting for the delivery of your car. 
D) Use the agent recommended by the car dealer as prices rarely vary.

Question 2

Insurance companies generate their revenue from charging premiums well above what they anticipate paying out in claims.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following would not be covered by your third party liability coverage?

Accepted Answer

A) Your dog bites a guest and the guest sues you. 
B) While your accountant is visiting you,she trips on your carpet,breaks her leg and sues you. 
C) Your neighbour sues you because you have a tree he feels will fall on his home and damage it. 
D) An uninvited salesman walking up your sidewalk trips and falls and sues you. 
A) Your dog bites a guest and the guest sues you. 
B) While your accountant is visiting you,she trips on your carpet,breaks her leg and sues you. 
C) Your neighbour sues you because you have a tree he feels will fall on his home and damage it. 
D) An uninvited salesman walking up your sidewalk trips and falls and sues you.

Question 4

You have cash value coverage for your personal property on your homeowner's policy.Your camera cost $300 eight years ago had a life expectancy of 10 years.The camera was stolen,and a new one will cost $100.How much will the insurance company pay?

Accepted Answer

A) $60 
B) $100 
C) $200 
D) $300 
A) $60 
B) $100 
C) $200 
D) $300

Question 5

When Jane decided not to select collision and comprehensive insurance coverage on her old car,she was accepting her exposure to financial loss from damage to her car.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is the appropriate action to take in the event of an accident?

Accepted Answer

A) If possible,move your car out of traffic and collect information using an accident checklist. 
B) As long as no one is injured,remain in place and contact your insurance company to come and document the specifics so they can determine fault. 
C) Contact the police immediately and stay where you are regardless of how minor the accident was. 
D) If you feel the other driver might be guilty of a Criminal Code offence such as drunk driving,conduct a Citizen's arrest. 
A) If possible,move your car out of traffic and collect information using an accident checklist. 
B) As long as no one is injured,remain in place and contact your insurance company to come and document the specifics so they can determine fault. 
C) Contact the police immediately and stay where you are regardless of how minor the accident was. 
D) If you feel the other driver might be guilty of a Criminal Code offence such as drunk driving,conduct a Citizen's arrest.

Question 7

If you have automobile and homeowner's insurance,there is no reason to purchase an umbrella personal liability policy for additional coverage of $1 million.

Accepted Answer

A) True 
 B)False

Question 8

Refusing to go bungee jumping is

Accepted Answer

A) avoiding risk. 
B) accepting risk. 
C) transferring risk. 
D) sharing risk. 
A) avoiding risk. 
B) accepting risk. 
C) transferring risk. 
D) sharing risk.

Which is the best advice about shopping for car insurance in provinces where there are private insurers?

Insurance companies generate their revenue from charging premiums well above what they anticipate paying out in claims.

Which of the following would not be covered by your third party liability coverage?

You have cash value coverage for your personal property on your homeowner's policy.Your camera cost $300 eight years ago had a life expectancy of 10 years.The camera was stolen,and a new one will cost $100.How much will the insurance company pay?

When Jane decided not to select collision and comprehensive insurance coverage on her old car,she was accepting her exposure to financial loss from damage to her car.

Which of the following is the appropriate action to take in the event of an accident?

If you have automobile and homeowner's insurance,there is no reason to purchase an umbrella personal liability policy for additional coverage of $1 million.

Refusing to go bungee jumping is

Overview of a Financial Plan

Tools for Financial Planning - Applying Time Value Concepts

Tools for Financial Planning - Planning with Personal Financial Statements

Tools for Financial Planning - Using Tax Concepts for Planning

Managing Your Financial Resources - Banking Services and Managing Your Money

Managing Your Financial Resources - Assessing, Managing, and Securing Your Credit

Managing Your Financial Resources - Purchasing and Financing a Home

Protecting Your Wealth - Health and Life Insurance

Personal Investing - Investing Fundamentals

Personal Investing - Investing in Stocks

Personal Investing - Investing in Bonds

Personal Investing - Investing in Mutual Funds

Retirement and Estate Planning - Retirement Planning

Retirement and Estate Planning - Estate Planning

Synthesis of Financial Planning - Integrating the Components of a Financial Plan

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Exam 8: Protecting Your Wealth - Auto and Homeowner's Insurance

Which is the best advice about shopping for car insurance in provinces where there are private insurers?

Insurance companies generate their revenue from charging premiums well above what they anticipate paying out in claims.

Which of the following would not be covered by your third party liability coverage?

You have cash value coverage for your personal property on your homeowner's policy.Your camera cost $300 eight years ago had a life expectancy of 10 years.The camera was stolen,and a new one will cost $100.How much will the insurance company pay?

When Jane decided not to select collision and comprehensive insurance coverage on her old car,she was accepting her exposure to financial loss from damage to her car.

Which of the following is the appropriate action to take in the event of an accident?

If you have automobile and homeowner's insurance,there is no reason to purchase an umbrella personal liability policy for additional coverage of $1 million.

Refusing to go bungee jumping is

Overview of a Financial Plan

Tools for Financial Planning - Applying Time Value Concepts

Tools for Financial Planning - Planning with Personal Financial Statements

Tools for Financial Planning - Using Tax Concepts for Planning

Managing Your Financial Resources - Banking Services and Managing Your Money

Managing Your Financial Resources - Assessing, Managing, and Securing Your Credit

Managing Your Financial Resources - Purchasing and Financing a Home

Protecting Your Wealth - Health and Life Insurance

Personal Investing - Investing Fundamentals

Personal Investing - Investing in Stocks

Personal Investing - Investing in Bonds

Personal Investing - Investing in Mutual Funds

Retirement and Estate Planning - Retirement Planning

Retirement and Estate Planning - Estate Planning

Synthesis of Financial Planning - Integrating the Components of a Financial Plan

Filters