Exam 3: Protecting Your Wealth - Auto and Homeowner's Insurance

If Fred caused a car accident and his passenger required expensive medical care as a result,his third Chaptery liability coverage would first be used to cover those expenses.

(True/False)

4.9/5

(76)

Question 41

Refusing to go bungee jumping is

(Multiple Choice)

4.8/5

(75)

Question 42

Since insurance companies rely mostly on their premiums to cover claims,they price their insurance policies to reflect the probability of a claim and the size of the claim.

(True/False)

4.8/5

(83)

Question 43

A 46-inch HDTV originally purchased for $5000 has a life expectancy of seven years.It is five years old and has been destroyed in a fire.Today a similar TV would cost $2100.Your cash value policy will

(Multiple Choice)

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(77)

Question 44

You are in an accident which causes $3000 in damages to your car,and your policy has a $500 deductible for collision and $300 for comprehensive.If the other driver is at fault,which is correct?

(Multiple Choice)

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(64)

Question 45

More than sixty percent of homeowner's insurance premiums go towards settling claims.

(True/False)

4.7/5

(75)

Question 46

If you live in a province with private auto insurance,it can be very expensive if you

(Multiple Choice)

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(72)

Question 47

Driving carefully and obeying traffic laws is

(Multiple Choice)

4.8/5

(78)

Question 48

Jennifer rents an aChapterment and is considering tenant's insurance.Which of the following is accurate about what Jennifer can expect to get coverage for in a standard cash value tenant's insurance policy with a $500 deductible?

(Multiple Choice)

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(88)

Question 49

For auto insurance,which area has the highest level of insurance coverage required by law?

(Multiple Choice)

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(85)

Question 50

Collision coverage is normally limited to the car itself and not to items that were damaged while in the car.

(True/False)

4.7/5

(78)

Question 51

A Chapter of accident benefits coverage includes coverage for drivers and their passengers in the event of an accident caused by an uninsured driver.

(True/False)

4.9/5

(80)

Question 52

Collision and comprehensive coverage is optional in most provinces with the possible exception that you are financing your car and it is required by the lender.

(True/False)

4.9/5

(71)

Question 53

Your insurance policy carries a $200 deductible for collision and $500 deductible for comprehensive.If you cause an accident which results in the following repairs and losses to your car and possessions,what will be the reimbursement from the insurance company under your collision and comprehensive coverage? • Replacement of trailer hitch $500 • Replacement of rear bumper $700 • Replacement of computer (in trunk) $400 • Replacement of rear windshield $400

(Multiple Choice)

4.8/5

(69)

Question 54

Which of the following is true about liability insurance in a homeowner's policy?

(Multiple Choice)

4.8/5

(82)

Question 55

An HDTV was purchased for $6500 and is now three years old.If it is stolen and it is deemed to have a life of five years,the insurance company will settle for $3000 under a cash value policy.

(True/False)

4.8/5

(82)

Question 56

If Zack had a replacement value home insurance policy and had a custom made table that he paid $16000 for a number of years ago and which was recently appraised for $22 000,the insurance company would pay him $16 000 for it,if it were destroyed in a fire.

(True/False)

4.8/5

(78)

Question 57

The best way to reduce your homeowner's insurance premiums is to

(Multiple Choice)

4.9/5

(78)

Question 58

Using one insurer for all types of insurance will not reduce your homeowner's insurance premium.

(True/False)

4.9/5

(82)

Question 59

Some credit cards provide you with collision and comprehensive insurance benefits if you use that card to pay for car rentals.

(True/False)

4.9/5

(94)

Question 60

Showing 41 - 60 of 88

If Fred caused a car accident and his passenger required expensive medical care as a result,his third Chaptery liability coverage would first be used to cover those expenses.

Refusing to go bungee jumping is

Since insurance companies rely mostly on their premiums to cover claims,they price their insurance policies to reflect the probability of a claim and the size of the claim.

A 46-inch HDTV originally purchased for $5000 has a life expectancy of seven years.It is five years old and has been destroyed in a fire.Today a similar TV would cost $2100.Your cash value policy will

You are in an accident which causes $3000 in damages to your car,and your policy has a $500 deductible for collision and $300 for comprehensive.If the other driver is at fault,which is correct?

More than sixty percent of homeowner's insurance premiums go towards settling claims.

If you live in a province with private auto insurance,it can be very expensive if you

Driving carefully and obeying traffic laws is

Jennifer rents an aChapterment and is considering tenant's insurance.Which of the following is accurate about what Jennifer can expect to get coverage for in a standard cash value tenant's insurance policy with a $500 deductible?

For auto insurance,which area has the highest level of insurance coverage required by law?

Collision coverage is normally limited to the car itself and not to items that were damaged while in the car.

A Chapter of accident benefits coverage includes coverage for drivers and their passengers in the event of an accident caused by an uninsured driver.

Collision and comprehensive coverage is optional in most provinces with the possible exception that you are financing your car and it is required by the lender.

Which of the following is true about liability insurance in a homeowner's policy?

An HDTV was purchased for $6500 and is now three years old.If it is stolen and it is deemed to have a life of five years,the insurance company will settle for $3000 under a cash value policy.

If Zack had a replacement value home insurance policy and had a custom made table that he paid $16000 for a number of years ago and which was recently appraised for $22 000,the insurance company would pay him $16 000 for it,if it were destroyed in a fire.

The best way to reduce your homeowner's insurance premiums is to

Using one insurer for all types of insurance will not reduce your homeowner's insurance premium.

Some credit cards provide you with collision and comprehensive insurance benefits if you use that card to pay for car rentals.

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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