Question 1

Common types of property that are subject to internal limits on homeowner's policies include:

Accepted Answer

A)  musical instruments 
B)  furniture 
C)  jewelry 
D)  clothing 
E)  all of the above 
A)  musical instruments 
B)  furniture 
C)  jewelry 
D)  clothing 
E)  all of the above

Question 2

Choose the word or phrase in [ ] which 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 your furniture in your rented apartment is destroyed by a fire,it [would | would not] be covered by your landlord's policy.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 3

Choose the word or phrase in [ ] which 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.
-A personal liability umbrella policy is designed to [replace | supplement] HO and car liability coverage.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 4

Careful drivers have limited need for liability protection,because they are not likely to be at fault in an accident.

Accepted Answer

A) True 
 B)False

Question 5

Actual cash value is generally defined as the:

Accepted Answer

A)  replacement cost. 
B)  original purchase price. 
C)  market value. 
D)  purchase cost minus depreciation. 
E)  replacement cost minus depreciation. 
A)  replacement cost. 
B)  original purchase price. 
C)  market value. 
D)  purchase cost minus depreciation. 
E)  replacement cost minus depreciation.

Question 6

Choose the word or phrase in [ ] which 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.
-Umbrella liability insurance is more likely to be needed by [higher | lower] income persons.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 7

The federal government subsidizes the flood insurance program.

Accepted Answer

A) True 
 B)False

Question 8

Factors that affect home insurance costs include:

Accepted Answer

A)  type of structure. 
B)  location of home. 
C)  credit score. 
D)  all of the above 
E)  none of the above 
A)  type of structure. 
B)  location of home. 
C)  credit score. 
D)  all of the above 
E)  none of the above

Question 9

Choose the word or phrase in [ ] which 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 insurance companies [will | will not] offer good student discounts on car insurance premiums.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 10

Maximum liability policy limits are determined by:

Accepted Answer

A)  state law. 
B)  auto type. 
C)  the insured's choice. 
D)  court proceedings. 
E)  none of these 
A)  state law. 
B)  auto type. 
C)  the insured's choice. 
D)  court proceedings. 
E)  none of these

Question 11

A $100,000/$300,000 bodily injury liability automobile policy could pay up to $100,000 to one person or up to $300,000 to several people seeking damages.

Accepted Answer

A) True 
 B)False

Question 12

A personal liability umbrella policy typically includes coverage for auto related liability losses in excess of the limits purchased in a personal auto policy.

Accepted Answer

A) True 
 B)False

Question 13

Choose the word or phrase in [ ] which 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.
-The factor that is likely to have the greatest effect on your automobile insurance is your [driving record | academic grades].

Accepted Answer

The answer of Choose the word or phrase in [...

Question 14

Section II of the homeowner's insurance contract covers:

Accepted Answer

A)  libel. 
B)  contractual wrongdoing. 
C)  the house and its contents. 
D)  liability of the insured. 
E)  none of these 
A)  libel. 
B)  contractual wrongdoing. 
C)  the house and its contents. 
D)  liability of the insured. 
E)  none of these

Question 15

The deductible on a standard homeowners' policy applies to:

Accepted Answer

A)  the coverage on the house. 
B)  the coverage on personal property. 
C)  a liability coverage. 
D)  a and b 
E)  a,b,and c 
A)  the coverage on the house. 
B)  the coverage on personal property. 
C)  a liability coverage. 
D)  a and b 
E)  a,b,and c

Question 16

Floods and earthquakes are specifically included in most homeowner's policies.

Accepted Answer

A) True 
 B)False

Question 17

Collision insurance pays for damage to your automobile regardless of who is at fault.

Accepted Answer

A) True 
 B)False

Question 18

Other-insurance clauses help prevent the violation of the principle of indemnity.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following will be covered in homeowners' insurance?

Accepted Answer

A)  The medical costs to a meter-reader who was bitten by your pet. 
B)  Your attached garage destroyed by Hurricane Ivan. 
C)  Your new Pontiac Transport Mini-Van parked inside the garage. 
D)  a,b,and c 
E)  a and b 
A)  The medical costs to a meter-reader who was bitten by your pet. 
B)  Your attached garage destroyed by Hurricane Ivan. 
C)  Your new Pontiac Transport Mini-Van parked inside the garage. 
D)  a,b,and c 
E)  a and b

Question 20

A rental car could be a covered auto under a personal automobile policy liability section.

Accepted Answer

A) True 
 B)False

Common types of property that are subject to internal limits on homeowner's policies include:

Choose the word or phrase in [ ] which 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. -A personal liability umbrella policy is designed to [replace | supplement] HO and car liability coverage.

Careful drivers have limited need for liability protection,because they are not likely to be at fault in an accident.

Actual cash value is generally defined as the:

Choose the word or phrase in [ ] which 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. -Umbrella liability insurance is more likely to be needed by [higher | lower] income persons.

The federal government subsidizes the flood insurance program.

Factors that affect home insurance costs include:

Choose the word or phrase in [ ] which 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 insurance companies [will | will not] offer good student discounts on car insurance premiums.

Maximum liability policy limits are determined by:

A $100,000/$300,000 bodily injury liability automobile policy could pay up to $100,000 to one person or up to $300,000 to several people seeking damages.

A personal liability umbrella policy typically includes coverage for auto related liability losses in excess of the limits purchased in a personal auto policy.

Section II of the homeowner's insurance contract covers:

The deductible on a standard homeowners' policy applies to:

Floods and earthquakes are specifically included in most homeowner's policies.

Collision insurance pays for damage to your automobile regardless of who is at fault.

Other-insurance clauses help prevent the violation of the principle of indemnity.

Which of the following will be covered in homeowners' insurance?

A rental car could be a covered auto under a personal automobile policy liability section.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

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

Planning for Retirement

Preserving Your Estate

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Exam 10: Protecting Your Property

Common types of property that are subject to internal limits on homeowner's policies include:

Careful drivers have limited need for liability protection,because they are not likely to be at fault in an accident.

Actual cash value is generally defined as the:

Choose the word or phrase in [ ] which 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. -Umbrella liability insurance is more likely to be needed by [higher | lower] income persons.

The federal government subsidizes the flood insurance program.

Factors that affect home insurance costs include:

Choose the word or phrase in [ ] which 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 insurance companies [will | will not] offer good student discounts on car insurance premiums.

Maximum liability policy limits are determined by:

A $100,000/$300,000 bodily injury liability automobile policy could pay up to $100,000 to one person or up to $300,000 to several people seeking damages.

A personal liability umbrella policy typically includes coverage for auto related liability losses in excess of the limits purchased in a personal auto policy.

Section II of the homeowner's insurance contract covers:

The deductible on a standard homeowners' policy applies to:

Floods and earthquakes are specifically included in most homeowner's policies.

Collision insurance pays for damage to your automobile regardless of who is at fault.

Other-insurance clauses help prevent the violation of the principle of indemnity.

Which of the following will be covered in homeowners' insurance?

A rental car could be a covered auto under a personal automobile policy liability section.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

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

Planning for Retirement

Preserving Your Estate

Filters