Following are some of the multiple choice questions on the Insurance with answers that will help the students in developing their knowledge.
1. Which of the following typically have the highest insurance premiums.
2. Of the four parts of auto insurance coverage, which part protects your from acts of God?
3. According to the Affordable Care Act, children can be on their parents' health insurance until what age?
4. The purpose of insurance is to completely transfer risk to other people.
5. Cash set aside that can be used to cover the costs of unexpected expenses
6. The risks covered and amount of money paid for losses under an insurance policy
7. Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid
8. Most experts in personal finance say that everyone should have life insurance no matter what age you are.
9. When you shop for life insurance, you should consider only the cost or premium you will pay.
10. In which of the following scenarios will you obligated to pay the least amount of money out-‐of-‐pocket for medical expenses?
11. What does renters insurance cover?
12. 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.
13. 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.
14. The amount paid for insurance is the
15. Someone breaks into your apartment and steals your iPad.
16. You hit a deer with your car and it needs to be repaired
17. Food poisoning sends you and your family to the emergency room.
18. Your car is totaled during a hit and run accident
19. After your knee surgery, you are unable to work for 3 months and you need help paying expenses while you're out of work
20. You fall off your bike and sprain your wrist.
21. You crash your car into another vehicle and hurt someone else in the car
22. Which of the following is NOT covered by Property Damage Liability Coverage?
23. 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?
24. Which type of Life Insurance policy only pays a beneficiary when a person dies during a time period?
25. Which is NOT a source of Disability Income?
26. What type of insurance coverage is considered specialized?
27. The sprinkler system in your house goes off and it damages the flooring
28. Your house is destroyed by a tornado and you need to rebuild it.
29. An unexpected death of a family member occurs and results in funeral expenses
30. _________ _________ 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
31. ________ ___________ __________ 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
32. _______ _______ is the amount of money you will receive if you cancel your whole life insurance policy
33. _______ _________ insurance also known as permanent life insurance, offers financial protection for your entire life
34. The __________ is the person who receives money from a life insurance policy if the insured dies
35. _______ ________ insurance is for a specified term, such as 5 years, or to a specified age
36. A(n) ____________ is a predetermined flat fee you pay for health care services
37. __________ insurance is financial protection for a family in case the main source of income dies
38. _______________ requires you to pay either a set amount or a certain percent of medical expenses
39. A(n) _________ is the amount of money you must pay each year before your insurance company starts paying
40. _____________ ___________ __________ is a prepaid health plan in which care providers contract with (or are) employees of the org. to provide you with services
41. __________ ___________ __________ is a group of selected health care providers who offer comprehensive services at preset reimbursement levels
42. ___________ ______________offers health care coverage where the health care provider is paid a predetermined dollar amount for the service given
43. ______________ insurance provides financial protection against overwhelming medical expenses
44. Another name for this type of insurance is a warranty
45. The people who need this the most generally have kids, and always have someone relying on their income
46. This is what you have to pay before the insurance company will pay anything
47. This type of insurance should pay if you severely burn your finger on a toaster and need to go to the hospital
48. The total cost of buying insurance, usually per year
49. What is the main purpose of insurance?
50. What year was Obamacare made?
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