Question<\/p>\n
Question 1.1. (TCO 4) _____ risks refer to potential losses due to negligence resulting in bodily harm or property damage to others. (Points : 1)<\/p>\n
Speculative<\/p>\n
Liability<\/p>\n
Property<\/p>\n
Personal<\/p>\n
Commercial<\/p>\n
Question 2.2. (TCO 4) If you decide to install a new home security system with cameras, this is an example of _____ risk. (Points : 1)<\/p>\n
shifting<\/p>\n
accepting<\/p>\n
transferring<\/p>\n
sharing<\/p>\n
reducing<\/p>\n
Question 3.3. (TCO 4) The failure to take ordinary and reasonable care is referred to as (Points : 1)<\/p>\n
negligence.<\/p>\n
a benefit.<\/p>\n
damage.<\/p>\n
high risk.<\/p>\n
a hazard.<\/p>\n
Question 4.4. (TCO 4) If a worker damages your home while painting several rooms, and you take action against the worker’s employer to cover the cost of the damage, this is an example of a(n) _____ liability. (Points : 1)<\/p>\n
umbrella<\/p>\n
vicarious<\/p>\n
common situation<\/p>\n
peril<\/p>\n
assigned<\/p>\n
Question 5.5. (TCO 4) Which of the following is not considered personal property for home insurance coverage? (Points : 1)<\/p>\n
An automobile<\/p>\n
A garage<\/p>\n
Furniture<\/p>\n
Appliances<\/p>\n
A permanently installed air conditioning unit<\/p>\n
Question 6.6. (TCO 4) State Farm has provided a quote to you for an umbrella policy. This type of policy provides coverage for (Points : 1)<\/p>\n
expensive personal property.<\/p>\n
additional buildings on your property.<\/p>\n
property when traveling away from home.<\/p>\n
major personal liability suits.<\/p>\n
flood damage.<\/p>\n
Question 7.7. (TCO 4) When obtaining a home insurance policy, you will find that most will already provide coverage for (Points : 1)<\/p>\n
earthquake damage.<\/p>\n
flood damage.<\/p>\n
medical payments.<\/p>\n
personal property floaters.<\/p>\n
an umbrella liability.<\/p>\n
Question 8.8. (TCO 4) If claims need to be settled based on the current replacement cost of a damaged or lost item less depreciation, then the _____ method should be used. (Points : 1)<\/p>\n
replacement value<\/p>\n
actual cash value<\/p>\n
umbrella<\/p>\n
endorsement<\/p>\n
personal property floater<\/p>\n
Question 9.9. (TCO 4) Your home insurance policy has a $250 deductible. If a small fire causes $900 of damage to your home, what amount of the claim would the insurance company pay? (Points : 1)<\/p>\n
$250<\/p>\n
$0<\/p>\n
$900<\/p>\n
$650<\/p>\n
Question 10.10. (TCO 4) _____ coverage pays for medical care for people who were injured in your automobile. (Points : 1)<\/p>\n
Comprehensive<\/p>\n
Bodily injury liability<\/p>\n
Collision<\/p>\n
Medical payments<\/p>\n
No-fault insurance<\/p>\n
Question 11.11. (TCO 4) The 50 in 100\/300\/50 refers to _____ coverage. (Points : 1)<\/p>\n
collision<\/p>\n
bodily injury liability<\/p>\n
property damage liability<\/p>\n
medical payments<\/p>\n
comprehensive physical damage<\/p>\n
Question 12.12. (TCO 4) If Lisa Johnson is in an accident and the other driver is legally at fault, _____ coverage would pay for damage to her vehicle. (Points : 1)<\/p>\n
uninsured motorists protection<\/p>\n
collision<\/p>\n
comprehensive physical damage<\/p>\n
property damage liability<\/p>\n
assigned risk<\/p>\n
Question 13.13. (TCO 4) Individuals and families purchase life insurance primarily to (Points : 1)<\/p>\n
pay liability claims resulting from accidents.<\/p>\n
fill financial needs created by the loss of the breadwinner.<\/p>\n
fund lavish retirement vacations.<\/p>\n
keep up with people with a similar financial situation.<\/p>\n
make early retirement possible.<\/p>\n
Question 14.14. (TCO 4) You probably have little or no need for life insurance if you are (Points : 1)<\/p>\n
a single person living alone or with parents.<\/p>\n
divorced and have two children.<\/p>\n
married and your spouse works.<\/p>\n
gainfully employed.<\/p>\n
a household with several children.<\/p>\n
Question 15.15. (TCO 4) Your annual income is $50,000. What is your life insurance need based on the easy method? (Points : 1)<\/p>\n
$245,000<\/p>\n
$300,000<\/p>\n
$345,000<\/p>\n
$400,000<\/p>\n
$450,000<\/p>\n
Insurance need = $50,000 x .7 x 7 = $245,000<\/p>\n
Question 16.16. (TCO 4) Which type of insurance is sometimes called temporary insurance? (Points : 1)<\/p>\n
Whole life<\/p>\n
Term<\/p>\n
Straight life<\/p>\n
Ordinary life<\/p>\n
Modified life<\/p>\n
Question 17.17. (TCO 4) All of the following are innovative ways that concerned groups are containing healthcare costs except for (Points : 1)<\/p>\n
the establishment of incentives to encourage preventive care.<\/p>\n
encouraging the use of prepaid group practices.<\/p>\n
the establishment of community education programs so people can learn to take better care of themselves.<\/p>\n
encouraging doctors to pay cash for routine medical costs.<\/p>\n
picketing at hospitals and physician offices.<\/p>\n
Question 18.18. (TCO 4) In order to reduce your healthcare costs, you should do your best to (Points : 1)<\/p>\n
live dangerously.<\/p>\n
gain a little extra weight.<\/p>\n
smoke and drink.<\/p>\n
stay well.<\/p>\n
not seek medical care.<\/p>\n
Question 19.19. (TCO 4) Because coverage and costs can vary from company to company, it is important to shop carefully for _____ coverage. (Points : 1)<\/p>\n
group health<\/p>\n
individual health<\/p>\n
hospital expense<\/p>\n
surgical expense<\/p>\n
physician’s expense<\/p>\n
Question 20.20. (TCO 4) A(n) _____ policy might not cover all of your health insurance needs or may deny benefits if you lose your job. (Points : 1)<\/p>\n
comprehensive medical<\/p>\n
individual health<\/p>\n
basic health<\/p>\n
group health<\/p>\n
disability income<\/p>\n","protected":false},"excerpt":{"rendered":"
Question Question 1.1. (TCO 4) _____ risks refer to potential losses due to negligence resulting in bodily harm or property damage to others. (Points : 1) Speculative Liability Property Personal Commercial Question 2.2. (TCO 4) If you decide to install Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-118773","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/118773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=118773"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/118773\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=118773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=118773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=118773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}