Build your own quiz
Browse from millions of quizzes
QUIZ
4 years
Life Skills
9th -
University
Mallie Rutledge
13
plays
13
plays
35 questions
35 questions
Show Answers
See Preview
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Renter’s insurance is not necessary if you don’t have a lot of expensive things.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Disability insurance offered through your employer is usually the most expensive coverage option.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
The amount you pay monthly, quarterly, semiannually or annually to purchase different types of insurance
Premium
Co-pay
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Following the Five Foundations will help you to, one day, become self-insured.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following statements about long-term care insurance is false?
You should not buy long-term care insurance until age 30.
At least 69% of people over the age of 65 will require long -term care at some point.
Long-term care insurance is not the same as disability or short -term medical care.
A good long-term care policy will include in-home care.
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
You are involved in a two-car accident in which you are at fault. The other driver is injured and your insurance covers the medical expenses of the victim. This type of insurance coverage is called:
Comprehensive
Collision
Liability
Uninsured motorist protection
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following statements about disability insurance is false?
A longer elimination period will lower your premium cost
Disability insurance is not necessary if you have a good health insurance policy
Your coverage should be for 65% of your income.
After college, short-term disability should be covered by your emergency fund of three to six monthsʹ worth of expenses, staying out of debt, and having a money plan.
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Specific amount of money that you pay when insurance only covers a portion of costs
Fee
Out-of-pocket expense
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following is not a recommended way to save on your health insurance premium?
Increase your deductible
Increase your stop-loss or your maximum out-of-pocket expense
See if a Health Savings Account would make sense for your situation
If you are young and healthy, you do not need health insurance
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Paperwork filed with an insurance company in order to get them to cover a loss for someone they insure
Appraisal
Claim
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Insurance that covers property damage and medical bills if you are at fault in a car accident or if someone gets hurt on your property
Uninsured motorist protection
Liability
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Comprehensive coverage takes care of damage to your car that is not caused by a collision.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Describes the type of coverage in an insurance agreement
Policy
Premium
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following statements about life insurance. Is true?
You will always need life insurance.
Term life insurance should be avoided because the policy will expire and it has no savings plan built into it.
Cash value insurance is normally for life and is more expensive than term life insurance because it funds a savings plan.
There is no difference between term and cash value life insurance
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Life insurance policy for a specific period of time is called:
Universal
Term
Level
Whole life
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
An amount of money you pay to help cover a portion of your medical costs
Annuity
Co-payment
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Applies to the amount of protection you have through an insurance company in the event of a loss
Coverage
Premium
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
A person becomes self-insured when:
They have no debt
Their kids are grown, they have no debt, and they have fully funded retirement
Everyone should have term life insurance regardless of age or financial well-being
They own their own business
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
The time between the disabling event and the beginning of payments in your disability coverage is called:
Deductible
Elimination period
Out of pocket
Stop gap
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
The purpose of insurance is to:
Develop a savings plan
Provide an investment opportunity
Transfer financial risk
All of the above
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following is not a recommended way of lowering your car insurance premiums?
Shop around
Get good grades and take a driver education class
Drop your auto insurance altogether
Increase your deductible
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Any insurance with cash value or that combines insurance with investments is a bad idea.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following is not a benefit of having a will?
A will enables you to nominate the persons who will handle your estate or serve as guardians to your children, and it allows you to determine who will receive all the property you have accumulated over your lifetime.
You only need a will if you have a large estate.
A well-drafted will can allow your family to minimize death taxes and other costs that may drain your estate of assets.
Your will can be an expression of your personal values.
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following would not be a huge financial risk (and, therefore would not require insurance) if you had a full emergency fund of $500 or more?
A medical emergency
You lose your cell phone
Your identity gets stolen
A car accident
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Amount you must pay before you begin receiving any benefits from your insurance company
Deductible
Income
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
You should not buy identity theft protection that only provides credit report monitoring.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Duplicate coverage, or any extra insurance on top of your existing insurance, is not necessary.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following types of insurance is not recommended for a young single adult?
Auto insurance
Life insurance
Identity theft protection
Health insurance
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
After high school, you should have the following types of insurance: auto, renter’s, health and long- term care insurance
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Good identity theft protection includes restoration services.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
The recipient of assets passed on from the death of a friend or relative
Insured
Beneficiary
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following policies would be a duplicate coverage for your health insurance policy?
Long-term care insurance
Auto insurance
Cancer and hospital indemnity insurance
Disability insurance
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Prepaid burial policies are a good idea.
True
False
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
A legally enforceable declaration of how a person wishes his or her property to be distributed after death
Policy
Will
Multiple Choice
Please save your changes before editing any questions.
30 seconds
1 pt
Which of the following is true?
Mortgage life insurance is necessary if you are a homeowner.
Any kind of duplicate insurance coverage is a bad idea.
Pet insurance is a good idea since pet emergencies can be very expensive.
You can never be too safe-there is no bad insurance.
Explore all questions with a free account
Already have an account?
I am an expert and enthusiast assistant. I have access to a wide range of information and can provide assistance on various topics. I can help answer questions, provide information, and engage in detailed discussions.
Regarding the concepts mentioned in the article you provided, here are some search results that can help us understand them better:
-
Renter's insurance:
- Renter's insurance is a type of insurance that provides coverage for personal belongings and liability protection for individuals who are renting a property [[1]].
-
Disability insurance:
- Disability insurance is a type of insurance that provides income replacement in the event that an individual becomes disabled and is unable to work [[2]].
-
Premium:
- The premium is the amount of money that an individual pays on a regular basis (monthly, quarterly, semiannually, or annually) to purchase different types of insurance [[3]].
-
Five Foundations:
- The Five Foundations is a financial strategy that includes saving for emergencies, getting out of debt, paying cash for purchases, investing for the future, and giving generously [[4]].
-
Long-term care insurance:
- Long-term care insurance is a type of insurance that covers the costs associated with long-term care services, such as nursing home care, assisted living, and in-home care [[5]].
-
Liability insurance:
- Liability insurance is a type of insurance that provides coverage for property damage and medical bills if an individual is at fault in a car accident or if someone gets hurt on their property [[6]].
-
Comprehensive coverage:
- Comprehensive coverage is a type of auto insurance that takes care of damage to a car that is not caused by a collision, such as theft, vandalism, or natural disasters [[7]].
-
Life insurance:
- Life insurance is a type of insurance that provides a death benefit to the beneficiaries of the insured individual in the event of their death [[8]].
-
Co-payment:
- A co-payment is a specific amount of money that an individual pays when their insurance only covers a portion of the costs [[9]].
-
Coverage:
- Coverage refers to the amount of protection an individual has through an insurance company in the event of a loss [[10]].
-
Elimination period:
- The elimination period is the time between the disabling event and the beginning of payments in a disability insurance coverage [[11]].
-
Purpose of insurance:
- The purpose of insurance is to transfer financial risk from an individual to an insurance company [[12]].
-
Duplicate coverage:
- Duplicate coverage refers to having extra insurance on top of existing insurance, which is generally not necessary [[13]].
-
Beneficiary:
- A beneficiary is the recipient of assets passed on from the death of a friend or relative [[14]].
-
Will:
- A will is a legally enforceable declaration of how a person wishes their property to be distributed after their death [[15]].
These are some key concepts related to the topics mentioned in the article. If you have any specific questions or need more information on any of these concepts, feel free to ask!
