FIN 101 EXAM 2 PRACTICE TEST
QUESTIONS & ANSWERS VERIFIED
CORRECTLY TO PASS!!
1 of 62
Term
Your auto liability insurance shows policy limits of
$100,000/$300,000. This means
Give this one a try later!
$300,000 limit per individual with a
$100,000 total limit for all accidents
$100,000 limit per accident
, $300,000 total limit for $100,000 limit per individual
all individuals with a $300,000 limit per
accident
Don't know?
2 of 62
Term
Factors that affect home insurance costs include:
Give this one a try later!
the color of the house and its age of the homeowner and their
landscaping credit score
location of home, and the
type of structure the number of rooms in the house
Don't know?
3 of 62
Term
Liability claims may result from alleged negligent acts
Give this one a try later!
, True inversely
False 4.7%
Don't know?
4 of 62
Term
Given a $250 annual deductible, a $5,000 lid on the coinsurance,
80/20 coinsurance, and a $250,000 policy limit, how much of a
$27,500 medical bill will be paid by the insured?
Give this one a try later!
$7,500 $5,250
$2,250 $2,500
Don't know?
5 of 62
Term
Homeowner's insurance will cover which of the following?
a.Your attached garage destroyed by Hurricane Ivan
, b. the meter-reader was bitten by Cujo, your poodle
c. your new Pontiac transport mini-van parked inside the garage
d. a, b, c
e.a and b
Give this one a try later!
$27,000 $5,250
a and b $470.73
Don't know?
6 of 62
Term
Actual cash value is defined as replacement cost minus depreciation
Give this one a try later!
retirement False
decrease True
Don't know?
7 of 62
QUESTIONS & ANSWERS VERIFIED
CORRECTLY TO PASS!!
1 of 62
Term
Your auto liability insurance shows policy limits of
$100,000/$300,000. This means
Give this one a try later!
$300,000 limit per individual with a
$100,000 total limit for all accidents
$100,000 limit per accident
, $300,000 total limit for $100,000 limit per individual
all individuals with a $300,000 limit per
accident
Don't know?
2 of 62
Term
Factors that affect home insurance costs include:
Give this one a try later!
the color of the house and its age of the homeowner and their
landscaping credit score
location of home, and the
type of structure the number of rooms in the house
Don't know?
3 of 62
Term
Liability claims may result from alleged negligent acts
Give this one a try later!
, True inversely
False 4.7%
Don't know?
4 of 62
Term
Given a $250 annual deductible, a $5,000 lid on the coinsurance,
80/20 coinsurance, and a $250,000 policy limit, how much of a
$27,500 medical bill will be paid by the insured?
Give this one a try later!
$7,500 $5,250
$2,250 $2,500
Don't know?
5 of 62
Term
Homeowner's insurance will cover which of the following?
a.Your attached garage destroyed by Hurricane Ivan
, b. the meter-reader was bitten by Cujo, your poodle
c. your new Pontiac transport mini-van parked inside the garage
d. a, b, c
e.a and b
Give this one a try later!
$27,000 $5,250
a and b $470.73
Don't know?
6 of 62
Term
Actual cash value is defined as replacement cost minus depreciation
Give this one a try later!
retirement False
decrease True
Don't know?
7 of 62
