FCS 340 EXAM 3 ACTUAL TEST PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
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.
Question:
liability coverage.
Answer:
Auto insurance that pays for losses related to bodily injury, property damage, lawsuits, and defense
costs.
Question:
collision insurance.
Answer:
This covers the car of the insured person and pays for repairs after an accident or cash compensation
if the car can't be repaired. This type of coverage is usually optional
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.
Question:
liability coverage.
Answer:
Auto insurance that pays for losses related to bodily injury, property damage, lawsuits, and defense
costs.
Question:
collision insurance.
Answer:
This covers the car of the insured person and pays for repairs after an accident or cash compensation
if the car can't be repaired. This type of coverage is usually optional
