Insurance Question Preview (ID: 33276)
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A woman has just received a very expensive piece of jewelry. The woman has homeowner's insurance. Which statement would it be most appropriate for her to make to her insurance agent?
a) I think I need a personal property floater.
b) I think I should get speculative risk insurance.
c) I will deduct the cost of the jewelry from my premium.
d) I realize that if this jewelry is stolen it will be considered vicarious liability.
A person buys a flat screen, plasma, theater-like television. The person has homeowner's insurance. Why would it be appropriate to add a personal property floater to that insurance?
a) To reduce the premium on the homeowner's insurance
b) To protect the person who owns the television from liability for damages
c) To show the insurance company a good faith investment has been made
d) To cover the cost of replacement should the television get damaged or stolen
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 than the premiums paid
c) a caluclated amount on money which includes the premiums paid as well as the interest on that money
d) a calculated amount on money that must be converted to a term life insurnace policy
A person buys a homeowner's insurance policy with a $250 deductible, which means the person will
a) have to pay a quarterly premium of $250
b) have to pay the first $250 which will be deducted from the claim settlement paid by the insurance company
c) only receive payment from the insurance company of $250 for any single article damaged
d) not be responsible for the first $250 of the claimed damages
Which of the following insurance covers vehicles?
a) Mortgage
b) Racing
c) Automobile
d) Life
Neil will be traveling by air in Southeast Asia for a six-week vacation. Which step will not provide protection during the trip?
a) Buy baggage claim insurance
b) Take his passport
c) Buy flight insurance
d) Buy medical insurance that covers him when he travels internationally
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) death benefit or face value
d) annuity value
You have a $2,000 loss. Your insurance company pays you $1,500 on the claim for the loss. The $500 the insurance did not pay is a result of your policy having a
a) co-insurance clause
b) deductible
c) hazard clause
d) premium
When Jesse needs health care, she must first go to her primary care physician who coordinates her care and decides Jesse should see a specialist. Jesse pays $10 as the co-pay when she sees a primary care doctor. She has which type of health insurance
a) Fee-for-service health plan
b) managed care health plan
c) medicaid health plan
d) comprehensive health plan
Generally, the higher the deductible on an insurance policy, the
a) greater the premium
b) lower the premium
c) more frequently the premiuim has to be paid
d) less frequently the premium has to be paid
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