Wise Missed Insurance Pre-Test Questions: Question Preview (ID: 31050)

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Why is term life insurance usually the least expensive type of life insurance?
a) The policy only pays a death benefit
b) The policy builds a cash value
c) The policy provides coverage for a lifetime
d) The policy is available to all consumers

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) one-fifth of the $20,000 face value.
b) $20,000 less the premiums paid.
c) a calculated amount of money which includes the premiums paid as well as the interest on that money.
d) a calculated amount of money that must be converted to a term life insurance policy.

Lucy has no insurance. The situation(s) should she consider insuring against first are:
a) Death so her financial obligations are paid
b) Losses resulting from an illness, accident, or disability
c) Property losses and auto accidents
d) Auto collision, and burglary

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) Fee-for-service health plan
b) Managed care health plan
c) Medicaid health plan
d) Comprehensive health plan

The purpose of Insurance is NOT to
a) Share risk with other policy holders and the insurance company
b) Protect assets
c) Protect against potential losses
d) Diversify an investment portfolio

Sally took out a $50,000 life insurance policy. The $50,000 amount of coverage is called the:
a) Cash value
b) Premium value
c) Annuity value
d) Death benefit or face value

allows participants to seek health care from any qualified medical provider
a) PPO Non-Managed care health insurance
b) Medicaid
c) HMO Managed care health insurance
d) w-2

Generally, the higher the deductible on an insurance policy, the
a) lower the premium.
b) Form 1040EZ
c) Underinsured
d) property insurance

a summary of your earnings and withholdings for the year for one employer
a) W-4
b) Form W-2
c) property insurance
d) Underinsured

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

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