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Wise Missed Insurance Pre-Test Questions
Test Description: Wise Missed Insurance Pre-Test Questions
Instructions: Answer all questions to get your test result.
1) Why is term life insurance usually the least expensive type of life insurance?
A
The policy is available to all consumers
B
The policy builds a cash value
C
The policy only pays a death benefit
D
The policy provides coverage for a lifetime
2) Sally took out a $50,000 life insurance policy. The $50,000 amount of coverage is called the:
A
Premium value
B
Cash value
C
Annuity value
D
Death benefit or face value
3) The purpose of Insurance is NOT to
A
Share risk with other policy holders and the insurance company
B
Diversify an investment portfolio
C
Protect against potential losses
D
Protect assets
4) When Jessie needs health care, she must first go to her primary care physician who coordinates her care and decides whether Jessie should see a specialist. Jessie pays $10 as the co-pay when she sees her primary care doctor. Jessie has which type o
A
Comprehensive health plan
B
Medicaid health plan
C
Managed care health plan
D
Fee-for-service health plan
5) Lucy has no insurance. The situation(s) should she consider insuring against first are:
A
Losses resulting from an illness, accident, or disability
B
Death so her financial obligations are paid
C
Property losses and auto accidents
D
Auto collision, and burglary
6) For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy. At the time of surrender, the person will receive
A
a calculated amount of money which includes the premiums paid as well as the interest on that money.
B
one-fifth of the $20,000 face value.
C
$20,000 less the premiums paid.
D
a calculated amount of money that must be converted to a term life insurance policy.
7) Which insurance professional calculates risk based on loss percentage and determines insurance rates and premiums?
A
Actuary
B
Medicare
C
Stock broker
D
Financial planner
8) a summary of your earnings and withholdings for the year for one employer
A
Underinsured
B
Form W-2
C
W-4
D
property insurance
9) allows participants to seek health care from any qualified medical provider
A
w-2
B
Medicaid
C
PPO Non-Managed care health insurance
D
HMO Managed care health insurance
10) Generally, the higher the deductible on an insurance policy, the
A
Form 1040EZ
B
Underinsured
C
lower the premium.
D
property insurance
*select an answer for all questions
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