Insurance - Business Math Question Preview (ID: 8742)


Vocabulary And Terms. TEACHERS: click here for quick copy question ID numbers.

Protection against loss
a) policy
b) insurance
c) premium
d) claim

Insurance that covers hospitalization and medical insurance
a) health insurance
b) automobile insurance
c) life insurance
d) medical insurance

The written contract between the insurance company and the insured
a) claim
b) premium
c) carrier
d) policy

Life insurance policy that is limited to a specific length of time
a) universal
b) permanent
c) variable
d) term

If your employer pays 25% of the cost of health care annually, how much would you pay yearly for health insurance if the plan costs $4,000 per year?
a) $1,000
b) $3,000
c) $4,000
d) $2,500

If a life insurance policy for $200,000 of coverage costs $3 per $1,000 of coverage, what is the annual premium for life insurance?$
a) $600
b) $600,000
c) $6,000
d) $3,000

The annual premium for health insurance is $2,000 for a single person. George's company pays $800 of the annual cost. What is the monthly premium that George pays?
a) $1,200
b) $800
c) $100
d) $2,800

The amount of insurance purchased is
a) policy
b) principal
c) face value
d) premium

If you have an accident, you need to file a _____ to request payment for loss in an insurance policy.
a) claim
b) report
c) policy
d) W-2

The annual premium for Bianca's health insurance is $3,600. There is an additional cost of $100 per month for family coverage. What is the monthly cost for Bianca and her family?
a) $300
b) $400
c) $308.33
d) $3,700

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