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MM Chapter 9 And 10 MC Part 2
Test Description: Multiple Choice Questions
Instructions: Answer all questions to get your test result.
1) Which of the following can be not likely lead to reduced insurance rates
A
shopping around for the best rates
B
good grades
C
driving an older car
D
speeding ticket
2) Which of the following can be a challenge when managing money on your own as a young single adult
A
all of the answers
B
impulse buying due to lack of an accountability partner
C
time poverty and fatigue
D
not keeping a written budget
3) Which of the following is true
A
any kind of duplicate coverage is a bad idea
B
pet insurance is a good idea since pet emergencies can be very expensive
C
there is no bad isurance
D
mortgage life insurance is necessary if you are a homeowner
4) Which of the following is not a recommended way of lowering your car insurance premiums
A
drop your auto insurance altogether
B
increase your deductible
C
get good grades and take a driver education class
D
shop around
5) The number one cause of divorce in America is
A
children
B
the in-laws
C
money fights
D
religious differences
6) The amount of life insurance you should have is __ times your income
A
20
B
10
C
25
D
15
7) Which of the following policies would be duplicate coverage for your health insurance policy
A
disability insurance
B
auto insurance
C
long term care insurance
D
cancer and hospital indemnity insurance
8) Which of the following policies is not a benefit of having a will
A
a will enables you to nominate the persons who will handle your estate or serve as guardians to your children
B
your will can be an expression of your personal values
C
you only need a will if you have a large estate
D
a well drafted will can allow your family to minimize death taxes and other costs that may drain your estate of assets
9) For women the _____ is the most important key to financial security
A
checking account
B
emergency fund
C
envelope system
D
job promotion
10) Which of the following statements about disability insurance is false
A
it is a good idea to buy this type of insurance through your employer
B
disability insurance is not necessary if you have a good health insurance policy
C
your coverage should be for 65% of your income
D
short term disability should be covered by your full emergency fund of 3 to 6 months of expenses
11) Which type of insurance should you have
A
accidental death insurance
B
credit card protection
C
cancer
D
disability
12) The type of insurance to buy when you are 60 years old is
A
long term life insurance
B
long term care insurance
C
disability insurance
D
short term life insurance
13) When it comes to communications with others about money, you should not
A
be honest
B
pick the right time and place
C
manipulate
D
listen
*select an answer for all questions
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