Question 1

Peril

Accepted Answer

A)  is the chance that something may be lost.
B)  is the cause of a possible loss.
C)  increases the likelihood of loss through some peril.
D)  is the uncertainty of direct or indirect losses to property due to fire, windstorms, accidents, theft, and other hazards.
E)  is loss possibilities due to negligence resulting in bodily harm or property damage to others.F) B) and E)
G) A) and B)

Question 2

What is not a determining factor when considering the amount of home insurance you need, as per the text?

Accepted Answer

A)  Replacement value of the home
B)  Value of the contents
C)  Amount you can afford
D)  Liability coverage desired
E)  Protection for specific items such as jewelry and personal electronicsF) A) and D)
G) All of the above

Question 3

Personal property refers to the contents of your home-clothes, furniture, appliances, and similar items covered by homeowner's insurance.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following would be covered by a home insurance policy?

Accepted Answer

A)  earthquake damage
B)  flooding
C)  brush fires
D)  fire damage to your garage
E)  theft of business supplies from your officeF) B) and D)
G) C) and E)

Question 5

A speculative risk is a risk that carries a chance of either loss or gain.

Accepted Answer

A) True 
 B)False

Question 6

The purpose of a household inventory is to

Accepted Answer

A)  reduce insurance costs.
B)  lower the chance of negligence
C)  obtain personal property floater coverage.
D)  increase liability coverage.
E)  verify owned property.F) D) and E)
G) A) and B)

Question 7

What personal property is specifically excluded from coverage by a homeowner's insurance?

Accepted Answer

A)  Washers and dryers
B)  Stoves
C)  Animals
D)  Inexpensive Electronics
E)  CarpetF) B) and E)
G) B) and C)

Question 8

Collision coverage pays for damage to your vehicle for such hazards as fire, theft, or wind damage.

Accepted Answer

A) True 
 B)False

Question 9

Tenant's insurance would include coverage for all of the following except

Accepted Answer

A)  additional living expense coverage.
B)  personal liability.
C)  building and other structures.
D)  personal property.
E)  protection against financial loss due to damage.F) A) and B)
G) None of the above

Question 10

Risks such as fire, theft, glass breakage, falling objects, vandalism, wind, hail, flood, tornado, lightning, earthquake, avalanche, or damage caused by hitting an animal are covered by what type of auto insurance?

Accepted Answer

A)  Bodily injury
B)  Accident Benefits
C)  Uninsured motorist's protection
D)  Property damage
E)  Comprehensive physical damageF) C) and E)
G) C) and D)

Question 11

Ahmed Hadad was injured in an accident caused by another driver who did not have insurance.Ahmed's medical expenses would be covered by

Accepted Answer

A)  medical payments.
B)  collision.
C)  bodily injury liability.
D)  uninsured motorist's protection.
E)  no-fault coverage.F) D) and E)
G) B) and E)

Question 12

What type of liability is present when a person is held responsible for intentional or unintentional actions?

Accepted Answer

A)  Strict
B)  Vicarious
C)  Unlimited
D)  Limited
E)  NegligenceF) All of the above
G) A) and B)

Question 13

Which of the following refers to a category based on age, sex, marital status, and driving habits that is used to set automobile insurance premiums?

Accepted Answer

A)  rating territory
B)  assigned risk pool
C)  no-fault system
D)  driver classification
E)  use of the vehicleF) None of the above
G) A) and E)

Question 14

Identify the areas covered by tenants' insurance. I Personal property protection.
II Additional living expenses.
III Personal liability.
IV Replacement value of premises.

Accepted Answer

A)  I, II and III only
B)  I and III only
C)  II, III and IV only
D)  I, II, III and IV
E)  I, II, and IVF) A) and E)
G) A) and D)

Question 15

The most common method of dealing with risk is to shift, or transfer it to an insurance company or some other organization.

Accepted Answer

A) True 
 B)False

Question 16

Property losses can be categorized into destruction of property, and losses due to robbery, burglary, vandalism, or arson.

Accepted Answer

A) True 
 B)False

Question 17

Increased liability insurance is available with an umbrella policy.

Accepted Answer

A) True 
 B)False

Question 18

Most home insurance policies provide coverage for

Accepted Answer

A)  earthquake damage.
B)  flood damage.
C)  an umbrella liability.
D)  basic personal liability.
E)  medical payments.F) C) and D)
G) A) and C)

Question 19

What private sector strategy is used for death?

Accepted Answer

A)  Health insurance
B)  Life insurance
C)  Pension
D)  Auto insurance
E)  Home owner insuranceF) A) and D)
G) A) and B)

Exam 8: Home and Automobile Insurance

Risks such as fire, theft, glass breakage, falling objects, vandalism, wind, hail, flood, tornado, lightning, earthquake, avalanche, or damage caused by hitting an animal are covered by what type of auto insurance?

Correct Answer
verified

What personal property is specifically excluded from coverage by a homeowner's insurance?

Correct Answer
verified

Personal property refers to the contents of your home-clothes, furniture, appliances, and similar items covered by homeowner's insurance.

Correct Answer
verified

Most home insurance policies provide coverage for

Correct Answer
verified

Tenant's insurance would include coverage for all of the following except

Correct Answer
verified

Peril

Correct Answer
verified

What is not a determining factor when considering the amount of home insurance you need, as per the text?

Correct Answer
verified

Which of the following refers to a category based on age, sex, marital status, and driving habits that is used to set automobile insurance premiums?

Correct Answer
verified

What type of liability is present when a person is held responsible for intentional or unintentional actions?

Correct Answer
verified

The purpose of a household inventory is to

Correct Answer
verified

Which of the following would be covered by a home insurance policy?

Correct Answer
verified

The most common method of dealing with risk is to shift, or transfer it to an insurance company or some other organization.

Correct Answer
verified

What private sector strategy is used for death?

Correct Answer
verified

A speculative risk is a risk that carries a chance of either loss or gain.

Correct Answer
verified

Collision coverage pays for damage to your vehicle for such hazards as fire, theft, or wind damage.

Correct Answer
verified

Ahmed Hadad was injured in an accident caused by another driver who did not have insurance.Ahmed's medical expenses would be covered by

Correct Answer
verified

Identify the areas covered by tenants' insurance. I Personal property protection. II Additional living expenses. III Personal liability. IV Replacement value of premises.

Correct Answer
verified

Property losses can be categorized into destruction of property, and losses due to robbery, burglary, vandalism, or arson.

Correct Answer
verified

Increased liability insurance is available with an umbrella policy.

Correct Answer
verified

Exam 8: Home and Automobile Insurance

Risks such as fire, theft, glass breakage, falling objects, vandalism, wind, hail, flood, tornado, lightning, earthquake, avalanche, or damage caused by hitting an animal are covered by what type of auto insurance?

Correct AnswerverifiedShow Answer

What personal property is specifically excluded from coverage by a homeowner's insurance?

Correct AnswerverifiedShow Answer

Personal property refers to the contents of your home-clothes, furniture, appliances, and similar items covered by homeowner's insurance.

Correct AnswerverifiedShow Answer

Most home insurance policies provide coverage for

Correct AnswerverifiedShow Answer

Tenant's insurance would include coverage for all of the following except

Correct AnswerverifiedShow Answer

Peril

Correct AnswerverifiedShow Answer

What is not a determining factor when considering the amount of home insurance you need, as per the text?

Correct AnswerverifiedShow Answer

Which of the following refers to a category based on age, sex, marital status, and driving habits that is used to set automobile insurance premiums?

Correct AnswerverifiedShow Answer

What type of liability is present when a person is held responsible for intentional or unintentional actions?

Correct AnswerverifiedShow Answer

The purpose of a household inventory is to

Correct AnswerverifiedShow Answer

Which of the following would be covered by a home insurance policy?

Correct AnswerverifiedShow Answer

The most common method of dealing with risk is to shift, or transfer it to an insurance company or some other organization.

Correct AnswerverifiedShow Answer

What private sector strategy is used for death?

Correct AnswerverifiedShow Answer

A speculative risk is a risk that carries a chance of either loss or gain.

Correct AnswerverifiedShow Answer

Collision coverage pays for damage to your vehicle for such hazards as fire, theft, or wind damage.

Correct AnswerverifiedShow Answer

Ahmed Hadad was injured in an accident caused by another driver who did not have insurance.Ahmed's medical expenses would be covered by

Correct AnswerverifiedShow Answer

Identify the areas covered by tenants' insurance. I Personal property protection. II Additional living expenses. III Personal liability. IV Replacement value of premises.

Correct AnswerverifiedShow Answer

Property losses can be categorized into destruction of property, and losses due to robbery, burglary, vandalism, or arson.

Correct AnswerverifiedShow Answer

Increased liability insurance is available with an umbrella policy.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified