BML 13-2 Question Preview (ID: 9061)


Ch 13 Set 2. TEACHERS: click here for quick copy question ID numbers.

Which of the following is a type of automobile insurance that covers property damage?
a) bodily injury liability
b) comprehensive coverage
c) uninsured motorist coverage
d) medical payments

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.

The special form of homeowners insurance is sometimes referred to as a(n)
a) comprehensive policy.
b) all-risk policy.
c) exceptions policy.
d) replacement policy.

The loss in value of an item over time is called
a) appreciation.
b) decreasing payments.
c) depreciation.
d) depression.

This type of policy does not deduct depreciation when a damaged item is restored.
a) ordinary insurance.
b) no-fault insurance.
c) all-risk policy.
d) replacement insurance.

All of these are considered permanent life insurance except
a) universal life insurance
b) term life insurance
c) whole life insurance
d) variable life insurance

To have an insurable interest in the life of another person, you must
a) be related to that person by blood or marriage.
b) be employed by that person.
c) share financial responsibilities and decisions with that person.
d) receive some financial benefit from that person's continued life

Which of the following types of life insurance does NOT have a cash value?
a) limited life
b) ordinary life
c) term life
d) variable life

The most important feature of universal life insurance is that
a) the investment portion earns a variable rate of return.
b) the death benefit always exceeds the cash value.
c) the premiums are fixed and regular.
d) the payment period is for the life of the insured.

A dependent is
a) the person who receives money when the insured dies.
b) the person who buys a life insurance policy.
c) a person who must rely on another for financial support.
d) someone who is employed by another person.

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