FCS 340 Exam 3 | Questions with 100% Verified Answers |
Latest Update 2026/2027
Question: 100/300/50
Answer: 100k medical coverage per person
300k medical coverage per accident
50k in property damage
Question: beneficiary
Answer: one who benefits from something; a person who is left money or other property in a
will
or the like
Question: cash value
Answer: the amount of money a whole life policyholder would receive if the policy were
surrendered before death or maturity
Question: Affordable Care Act
Answer: An expansion of medicaid, most of employers must provide health insurance, have
insurance or face surtax, prevents rejection based on pre-existing condition. Also
referred to as "Obamacare", signed into law in 2010. The law provides consumers
with
subsidies ("premium tax credits") that lower costs for households with incomes
between
100% and 400% of the federal poverty level.
Question: comprehensive insurance
Answer: covers your car for reasons other than a collision, such as theft, fire, vandalism
Question: Policy owner
Answer: The person in an insurance contract that has all the rights contained in the policy;
designated on the application and may or may not be the insured.
Question: Auto Insurance
Answer: Protects against losses to property and injuries to people in a car accident.
Question: Disability Insurance
Answer: A type of insurance paid to an individual if he/she is injured and is unable to work for
a
specified length of time.
Latest Update 2026/2027
Question: 100/300/50
Answer: 100k medical coverage per person
300k medical coverage per accident
50k in property damage
Question: beneficiary
Answer: one who benefits from something; a person who is left money or other property in a
will
or the like
Question: cash value
Answer: the amount of money a whole life policyholder would receive if the policy were
surrendered before death or maturity
Question: Affordable Care Act
Answer: An expansion of medicaid, most of employers must provide health insurance, have
insurance or face surtax, prevents rejection based on pre-existing condition. Also
referred to as "Obamacare", signed into law in 2010. The law provides consumers
with
subsidies ("premium tax credits") that lower costs for households with incomes
between
100% and 400% of the federal poverty level.
Question: comprehensive insurance
Answer: covers your car for reasons other than a collision, such as theft, fire, vandalism
Question: Policy owner
Answer: The person in an insurance contract that has all the rights contained in the policy;
designated on the application and may or may not be the insured.
Question: Auto Insurance
Answer: Protects against losses to property and injuries to people in a car accident.
Question: Disability Insurance
Answer: A type of insurance paid to an individual if he/she is injured and is unable to work for
a
specified length of time.
