CM CH9 Insurance Exam
Questions and Answers 100%
PASS
Definition of Risk—ANSWER--possibility of loss or injury
approaches to managing risk—ANSWER--Avoid the risk
Reduce the risk
Retain the risk
Share or transfer the risk (insurance)
Why people buy insurance—ANSWER--To build and protect an estate, avoid losses they
cannot handle
7 types of Insurance from Dave Ramsey—ANSWER--Homeowner
Auto
Identity theft
Health
Disability
Long term care
, Life
AUTO Insurance coverage includes—ANSWER--collision,liablity,uninsured motorist, medicial
liability—ANSWER--state and quality being obligated according to the law
Bodily Injury means—ANSWER--bodily harm, sickness or disease, including death
collision—ANSWER--hit something or other cars; comprehensive, all other causes, fall obj,
fire, theft, explosion, natural disaster, riot, vandalism, animal, broken glass
Uninsured Motorist—ANSWER--protects you when injured by a driver who does not have
insurance or a driver whose liability limits is not high enough It also protects against hit-and-
run driver.
Minimum liability limit for VA—ANSWER--$25,000/50,000 BI and $20,000 PD
Factors that affect how rates are determined—ANSWER--Age
Driving Records (accidents and convictions)
Gender
Age of auto
Where you live
Miles driven annually
Type of auto
Martial status
Credit rating (something relatively new)
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
Questions and Answers 100%
PASS
Definition of Risk—ANSWER--possibility of loss or injury
approaches to managing risk—ANSWER--Avoid the risk
Reduce the risk
Retain the risk
Share or transfer the risk (insurance)
Why people buy insurance—ANSWER--To build and protect an estate, avoid losses they
cannot handle
7 types of Insurance from Dave Ramsey—ANSWER--Homeowner
Auto
Identity theft
Health
Disability
Long term care
, Life
AUTO Insurance coverage includes—ANSWER--collision,liablity,uninsured motorist, medicial
liability—ANSWER--state and quality being obligated according to the law
Bodily Injury means—ANSWER--bodily harm, sickness or disease, including death
collision—ANSWER--hit something or other cars; comprehensive, all other causes, fall obj,
fire, theft, explosion, natural disaster, riot, vandalism, animal, broken glass
Uninsured Motorist—ANSWER--protects you when injured by a driver who does not have
insurance or a driver whose liability limits is not high enough It also protects against hit-and-
run driver.
Minimum liability limit for VA—ANSWER--$25,000/50,000 BI and $20,000 PD
Factors that affect how rates are determined—ANSWER--Age
Driving Records (accidents and convictions)
Gender
Age of auto
Where you live
Miles driven annually
Type of auto
Martial status
Credit rating (something relatively new)
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
