Bus 110 Exam 3 2026 Questions and
Answers
Premium - Correct answer-The periodic payment made on an insurance policy
Declaration Page - Correct answer-The policy page that lists the insurance
company's name and address, the policyholder, the coverage dates, and the
contracted coverage amounts
Liability Insurance - Correct answer-Insurance that only covers the driver's legal
responsibilities if they are at fault for an accident
Loss Payee - Correct answer-In an insurance contract, the third party lien holder
who gets paid if there is a claim on the insurance
Full Coverage - Correct answer-Insurance that includes comprehensive and
collision insurance
Comprehensive Insurance - Correct answer-Insurance that covers an insured
vehicle for damage other than collision such as fire, theft, weather, impacts with
animals, or vandalism
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, Deductible - Correct answer-The amount of money one must pay before the insurer
will begin to pay on a claim
Collision Insurance - Correct answer-Insurance that covers the payment of repairs
to a vehicle damaged in a collision
Salvage Value - Correct answer-The value of a damaged vehicle if it were sold for
scrap metal or to an individual or company for repair
Roadside Assistance - Correct answer-Insurance coverage to pay for towing if your
vehicle is disabled
Rental Reimbursement - Correct answer-Insurance to cover the cost of a rental
vehicle if your vehicle is stolen or being repaired
SR-22 Liability Insurance - Correct answer-Liability insurance required by states
for high-risk drivers
Flood Insurance - Correct answer-Special insurance coverage to protect your home
and property from damage sustained from a flood
Earthquake Insurance - Correct answer-Special insurance coverage to protect your
home and property from damage sustained in an earthquake
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Answers
Premium - Correct answer-The periodic payment made on an insurance policy
Declaration Page - Correct answer-The policy page that lists the insurance
company's name and address, the policyholder, the coverage dates, and the
contracted coverage amounts
Liability Insurance - Correct answer-Insurance that only covers the driver's legal
responsibilities if they are at fault for an accident
Loss Payee - Correct answer-In an insurance contract, the third party lien holder
who gets paid if there is a claim on the insurance
Full Coverage - Correct answer-Insurance that includes comprehensive and
collision insurance
Comprehensive Insurance - Correct answer-Insurance that covers an insured
vehicle for damage other than collision such as fire, theft, weather, impacts with
animals, or vandalism
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Deductible - Correct answer-The amount of money one must pay before the insurer
will begin to pay on a claim
Collision Insurance - Correct answer-Insurance that covers the payment of repairs
to a vehicle damaged in a collision
Salvage Value - Correct answer-The value of a damaged vehicle if it were sold for
scrap metal or to an individual or company for repair
Roadside Assistance - Correct answer-Insurance coverage to pay for towing if your
vehicle is disabled
Rental Reimbursement - Correct answer-Insurance to cover the cost of a rental
vehicle if your vehicle is stolen or being repaired
SR-22 Liability Insurance - Correct answer-Liability insurance required by states
for high-risk drivers
Flood Insurance - Correct answer-Special insurance coverage to protect your home
and property from damage sustained from a flood
Earthquake Insurance - Correct answer-Special insurance coverage to protect your
home and property from damage sustained in an earthquake
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
