Following are some of the multiple choice questions on the Insurance with answers that will help the students in developing their knowledge.
1. _______ _________ insurance also known as permanent life insurance, offers financial protection for your entire life
2. You fall off your bike and sprain your wrist.
3. After your knee surgery, you are unable to work for 3 months and you need help paying expenses while you're out of work
4. Your car is totaled during a hit and run accident
5. Food poisoning sends you and your family to the emergency room.
6. You hit a deer with your car and it needs to be repaired
7. Your house is destroyed by a tornado and you need to rebuild it.
8. An unexpected death of a family member occurs and results in funeral expenses
9. _________ _________ insurance is a combination of a life insurance policy & a savings acct; it covers the insured for his or her lifetime and any amt the insured pays over the minimum premium goes into an investment acct that earns interest
10. ________ ___________ __________ is a whole life insurance policy that is paid up after a specified number of years, or until the insured reaches a certain age, but offers lifetime protection
11. _______ _______ is the amount of money you will receive if you cancel your whole life insurance policy
12. Someone breaks into your apartment and steals your iPad.
13. The __________ is the person who receives money from a life insurance policy if the insured dies
14. _______ ________ insurance is for a specified term, such as 5 years, or to a specified age
15. __________ insurance is financial protection for a family in case the main source of income dies
16. A(n) ____________ is a predetermined flat fee you pay for health care services
17. _______________ requires you to pay either a set amount or a certain percent of medical expenses
18. A(n) _________ is the amount of money you must pay each year before your insurance company starts paying
19. _____________ ___________ __________ is a prepaid health plan in which care providers contract with (or are) employees of the org. to provide you with services
20. __________ ___________ __________ is a group of selected health care providers who offer comprehensive services at preset reimbursement levels
21. ___________ ______________offers health care coverage where the health care provider is paid a predetermined dollar amount for the service given
22. The amount paid for insurance is the
23. Cash set aside that can be used to cover the costs of unexpected expenses
24. The risks covered and amount of money paid for losses under an insurance policy
25. Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid
26. When you shop for life insurance, you should consider only the cost or premium you will pay.
27. Most experts in personal finance say that everyone should have life insurance no matter what age you are.
28. Which of the following typically have the highest insurance premiums.
29. In which of the following scenarios will you obligated to pay the least amount of money out-‐of-‐pocket for medical expenses?
30. What does renters insurance cover?
31. This type of insurance protects against damage to the car OR injury to persons in the car caused by a driver who carries no insurance.
32. If you can not work due to a health condition or injury, this type of insurance will pay you a portion of the income you lose.
33. ______________ insurance provides financial protection against overwhelming medical expenses
34. The out of pocket cost to the insured when a loss occurs is called...
35. According to the Affordable Care Act, children can be on their parents' health insurance until what age?
36. The sprinkler system in your house goes off and it damages the flooring
37. What type of insurance coverage is considered specialized?
38. Which is NOT a source of Disability Income?
39. Which type of Life Insurance policy only pays a beneficiary when a person dies during a time period?
40. You have a $20 copay every time you go to the doctor. You have a $250 deductible, and a $1000 annual premium for health care. How much money do you have to pay out of pocket before insurance kicks in?
41. Which of the following is NOT covered by Property Damage Liability Coverage?
42. You crash your car into another vehicle and hurt someone else in the car
43. Someone who receives money if an insured person dies
44. This term pays for protection against loss of life, property, and finances.
45. The type of insurance that covers damage or loss to a vehicle from fire, theft, vandalism, or hail is called
46. The type of insurance that provides protection against financial loss from medical bills is called
47. Insurance that protects your family against financial loss due to your death is
48. Bodily injury covers your liability for injury to
49. Provides payment to replace earnings during times when workers cannot work due to illness or injury
50. Employers may offer employee benefits in the form of products or services that add extra value for employees beyond earned wages
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