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Personal Insurance Coverage Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. A product that protects from financial loss in the event of a death is _____, and its proceeds are paid out _____.

Question 2 2. Which of the following is NOT an example of what a 10-year term life insurance policy can be used for?

Question 3 3. What is the difference between term and whole life insurance?

Question 4 4. A young, female logger and middle age, male sales representative with a history of allergies and high cholesterol are both applying for life insurance policies. Whose policy will be more expensive and why?

Question 5 5. Which policy, term or whole, is best for the following situation: A young married couple just purchased a home with a 30-year mortgage, and they only want to protect against financial loss in the event of one of their deaths.

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Question 6 6. How are unemployment compensation benefits related to the economy of a country?

Question 7 7. What law is part of unemployment compensation?

Question 8 8. Select the statement that is NOT correct regarding unemployment compensation.

Question 9 9. How is unemployment compensation funded?

Question 10 10. Who administers unemployment compensation?

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Question 11 11. Ariana's work as a management consultant requires her to travel from state to state. Which type of health insurance would BEST suit her situation?

Question 12 12. Ernesto's health insurance plan allows him to receive care at a lower cost from a network of health providers, although out-of-network providers are still an option for him. Ernesto usually pays both a co-payment and a deductible. Which insurance plan does this describe?

Question 13 13. Which of the following definitions of health insurance and out-of-pocket costs is FALSE?

Question 14 14. How is a POS plan similar to an HMO plan?

Question 15 15. Melvin is a healthy 28-year-old who rarely gets sick enough to visit a doctor. He is considering a consumer-driven health plan in order to save money on premiums. What is another advantage of a CDHP?

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Question 16 16. Patty failed to renew her automobile insurance. She is involved in a car accident that results in damage to her vehicle and another driver's vehicle. Additionally, the other driver is severely injured. Patty is cited by the police. Which of the following scenarios is LIKELY to occur as a result of the accident?

Question 17 17. How does renter's insurance differ from homeowner's insurance?

Question 18 18. Ivan forgets to treat his icy sidewalk before leaving his home for the day. While delivering a package to the house, the mail carrier slips and falls, injuring her back. Ivan's icy walkway is an example of _____.

Question 19 19. Which of the following statements about homeowner's insurance coverage is FALSE?

Question 20 20. Which of the following situations would justify the purchase of a personal umbrella liability policy?

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Question 21 21. How are the terms toileting and continence related?

Question 22 22. Choose which statement is true about long-term disability policies?

Question 23 23. Which of the following options is true about Social Security disability?

Question 24 24. Tony is selecting a disability insurance policy. He has the option of having his benefits start 30 days, 60 days, or 120 days after the onset of a disability. Why would Tony choose 120 days?

Question 25 25. Sharon's expecting her first child and meets with her employer's human resources department to discuss maternity leave. The representative explains that Sharon's eligible to utilize paid time off, after which the employer-sponsored disability policy will pay benefits. What type of disability policy is the representative referencing?

Personal Insurance Coverage Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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