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BML 13-2
Test Description: Ch 13 set 2
Instructions: Answer all questions to get your test result.
1) Which of the following is a type of automobile insurance that covers property damage?
A
medical payments
B
uninsured motorist coverage
C
comprehensive coverage
D
bodily injury liability
2) Miley’s eight-year-old computer was destroyed in a flood. Her insurance company paid her the cost of buying a brand-new computer. This indicates that Miley had purchased
A
replacement insurance.
B
depreciation insurance.
C
liability insurance.
D
broad homeowners insurance.
3) The special form of homeowners insurance is sometimes referred to as a(n)
A
exceptions policy.
B
replacement policy.
C
all-risk policy.
D
comprehensive policy.
4) The loss in value of an item over time is called
A
appreciation.
B
depreciation.
C
depression.
D
decreasing payments.
5) This type of policy does not deduct depreciation when a damaged item is restored.
A
ordinary insurance.
B
all-risk policy.
C
replacement insurance.
D
no-fault insurance.
6) All of these are considered permanent life insurance except
A
variable life insurance
B
term life insurance
C
whole life insurance
D
universal life insurance
7) To have an insurable interest in the life of another person, you must
A
be employed by that person.
B
receive some financial benefit from that person's continued life
C
be related to that person by blood or marriage.
D
share financial responsibilities and decisions with that person.
8) Which of the following types of life insurance does NOT have a cash value?
A
limited life
B
variable life
C
ordinary life
D
term life
9) The most important feature of universal life insurance is that
A
the premiums are fixed and regular.
B
the investment portion earns a variable rate of return.
C
the payment period is for the life of the insured.
D
the death benefit always exceeds the cash value.
10) A dependent is
A
someone who is employed by another person.
B
a person who must rely on another for financial support.
C
the person who buys a life insurance policy.
D
the person who receives money when the insured dies.
*select an answer for all questions
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