FCS 340 (Money Management) EXAM 3
QUESTIONS AND VERIFIED SOLUTIONS 100%
ACCURATE AND VERIFIED.
Delaney had permission from Cody to borrow his car to run some errands.
Unfortunately, while Delaney was driving, she looked down to change songs on
her iPhone and sideswiped a car and hit a bicyclist. Would Delaney's automobile
insurance help her in this situation? If so, how?
Yes, if she has bodily injury liability
Lauren had a severe allergy attack and crashed her car into a telephone pole
while sneezing. The damage to the telephone pole would be covered under
Lauren's _________________________ policy
Property damage liability
Micah has an old beater car and wants to keep her insurance costs down. In order
to minimize the financial impact of an accident she may cause, she should, at a
minimum, carry which type of insurance?
liablility
Kristen lived in a neighborhood that was known for gang activity. One day, she
noticed that her car had been vandalized. This damage would be covered under
her ______________________________________________ policy
Comprehensive Physical Damage
What is the purpose of no-fault system automobile insurance?
Prevent problems that may arise due to variations among states, intended to provide
fast, smooth method of paying for damages without determining fault
List factors that could cause your auto insurance premium to be higher.
, Vehicle Type -year, make, model, theft rate;
Rating territory-Accident, auto theft, and vandalism rates in the area where you live
Driver classification- Age, Sex, marital status, credit history, driving record, and
driving habits; Assigned risk pool for those unable to obtain insurance
What factors could reduce your auto insurance premium?
Compare companies; Premium discounts--- Establish and maintain good driving
record, Non-smoker, Install security devices, insure more than 1 vehicle with same
company, Larger deductibles
Most people receive health insurance from ______________________
their employer
What is the Health Insurance Portability and Accountability Act of 1996?
set new federal standards to ensure that workers would not lose their health
insurance if they changed jobs
Individual health insurance policies are available for the _____________________ or
others who are dissatisfied with the coverage that their group plan provides.
self-employed
The type of health insurance coverage that takes up where basic health insurance
coverage leaves off is ____________________________________.
Major Medical Expense Insurance Coverage
What is a stop-loss provision?
requires the policyholder to pay all costs up to a certain amount, after which the
insurance company pays 100% of the remaining expenses, as long as they are
covered in the policy
Define deductible
The set amount that the policyholder must pay toward medical expenses before the
insurance company pays benefits
QUESTIONS AND VERIFIED SOLUTIONS 100%
ACCURATE AND VERIFIED.
Delaney had permission from Cody to borrow his car to run some errands.
Unfortunately, while Delaney was driving, she looked down to change songs on
her iPhone and sideswiped a car and hit a bicyclist. Would Delaney's automobile
insurance help her in this situation? If so, how?
Yes, if she has bodily injury liability
Lauren had a severe allergy attack and crashed her car into a telephone pole
while sneezing. The damage to the telephone pole would be covered under
Lauren's _________________________ policy
Property damage liability
Micah has an old beater car and wants to keep her insurance costs down. In order
to minimize the financial impact of an accident she may cause, she should, at a
minimum, carry which type of insurance?
liablility
Kristen lived in a neighborhood that was known for gang activity. One day, she
noticed that her car had been vandalized. This damage would be covered under
her ______________________________________________ policy
Comprehensive Physical Damage
What is the purpose of no-fault system automobile insurance?
Prevent problems that may arise due to variations among states, intended to provide
fast, smooth method of paying for damages without determining fault
List factors that could cause your auto insurance premium to be higher.
, Vehicle Type -year, make, model, theft rate;
Rating territory-Accident, auto theft, and vandalism rates in the area where you live
Driver classification- Age, Sex, marital status, credit history, driving record, and
driving habits; Assigned risk pool for those unable to obtain insurance
What factors could reduce your auto insurance premium?
Compare companies; Premium discounts--- Establish and maintain good driving
record, Non-smoker, Install security devices, insure more than 1 vehicle with same
company, Larger deductibles
Most people receive health insurance from ______________________
their employer
What is the Health Insurance Portability and Accountability Act of 1996?
set new federal standards to ensure that workers would not lose their health
insurance if they changed jobs
Individual health insurance policies are available for the _____________________ or
others who are dissatisfied with the coverage that their group plan provides.
self-employed
The type of health insurance coverage that takes up where basic health insurance
coverage leaves off is ____________________________________.
Major Medical Expense Insurance Coverage
What is a stop-loss provision?
requires the policyholder to pay all costs up to a certain amount, after which the
insurance company pays 100% of the remaining expenses, as long as they are
covered in the policy
Define deductible
The set amount that the policyholder must pay toward medical expenses before the
insurance company pays benefits
