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FIN 101 Exam questions with correct answers 2026/2027 Edition Graded A+ Suppose a person has a health insurance policy with $500 calendar year deductible, a $2000 out of pocket cap, and an 80% coinsurance provision. If this person suffers a $600 cove

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FIN 101 Exam questions with correct answers 2026/2027 Edition Graded A+ Suppose a person has a health insurance policy with $500 calendar year deductible, a $2000 out of pocket cap, and an 80% coinsurance provision. If this person suffers a $600 covered loss, how much will the insurance company pay? (Assume no previous losses have

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FIN 1O1/102/202
BUS/110.
BUSINESS
wiseman 2026/2027 BUSINESS

, FIN 101 Exam questions with
correct answers 2026/2027
Edition Graded A+
Suppose a person has a health insurance policy with $500 calendar
year deductible, a $2000 out of pocket cap, and an 80% coinsurance
provision. If this person suffers a $600 covered loss, how much will
the insurance company pay? (Assume no previous losses have
occurred).
a. $80
b. $100
c. $600
d. $480
e. some other amount - ✅✅a. $80
(600-500)= 100 (.80)0= $80


Homeowners' insurance will cover which of the following?
a. The meter-reader was bitten by Cujo, your poodle
b. Your attached garage destroyed by Hurricane Ivan
c. Your new Pontiac Transport mini-van parked inside the garage
d. a, b, and c

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