Devry busn380 week 6 quiz latest feb 2016 2016

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    Question
    Question 1.1. (TCO 4) _____ risks refer to potential losses due to negligence resulting in bodily harm or property damage to others. (Points : 1)
    Speculative
    Liability
    Property
    Personal
    Commercial
    Question 2.2. (TCO 4) If you decide to install a new home security system with cameras this is an example of _____ risk. (Points : 1)
    shifting
    accepting
    transferring
    sharing
    reducing
    Question 3.3. (TCO 4) The failure to take ordinary and reasonable care is referred to as (Points : 1)
    negligence.
    a benefit.
    damage.
    high risk.
    a hazard.
    Question 4.4. (TCO 4) If a worker damages your home while painting several rooms and you take action against the worker’s employer to cover the cost of the damage this is an example of a(n) _____ liability. (Points : 1)
    umbrella
    vicarious
    common situation
    peril
    assigned
    Question 5.5. (TCO 4) Which of the following is not considered personal property for home insurance coverage? (Points : 1)
    An automobile
    A garage
    Furniture
    Appliances
    A permanently installed air conditioning unit
    Question 6.6. (TCO 4) State Farm has provided a quote to you for an umbrella policy. This type of policy provides coverage for (Points : 1)
    expensive personal property.
    additional buildings on your property.
    property when traveling away from home.
    major personal liability suits.
    flood damage.
    Question 7.7. (TCO 4) When obtaining a home insurance policy you will find that most will already provide coverage for (Points : 1)
    earthquake damage.
    flood damage.
    medical payments.
    personal property floaters.
    an umbrella liability.
    Question 8.8. (TCO 4) If claims need to be settled based on the current replacement cost of a damaged or lost item less depreciation then the _____ method should be used. (Points : 1)
    replacement value
    actual cash value
    umbrella
    endorsement
    personal property floater
    Question 9.9. (TCO 4) Your home insurance policy has a $250 deductible. If a small fire causes $900 of damage to your home what amount of the claim would the insurance company pay? (Points : 1)
    $250
    $0
    $900
    $650
    Question 10.10. (TCO 4) _____ coverage pays for medical care for people who were injured in your automobile. (Points : 1)
    Comprehensive
    Bodily injury liability
    Collision
    Medical payments
    No-fault insurance
    Question 11.11. (TCO 4) The 50 in 100/300/50 refers to _____ coverage. (Points : 1)
    collision
    bodily injury liability
    property damage liability
    medical payments
    comprehensive physical damage
    Question 12.12. (TCO 4) If Lisa Johnson is in an accident and the other driver is legally at fault _____ coverage would pay for damage to her vehicle. (Points : 1)
    uninsured motorists protection
    collision
    comprehensive physical damage
    property damage liability
    assigned risk
    Question 13.13. (TCO 4) Individuals and families purchase life insurance primarily to (Points : 1)
    pay liability claims resulting from accidents.
    fill financial needs created by the loss of the breadwinner.
    fund lavish retirement vacations.
    keep up with people with a similar financial situation.
    make early retirement possible.
    Question 14.14. (TCO 4) You probably have little or no need for life insurance if you are (Points : 1)
    a single person living alone or with parents.
    divorced and have two children.
    married and your spouse works.
    gainfully employed.
    a household with several children.
    Question 15.15. (TCO 4) Your annual income is $50000. What is your life insurance need based on the easy method? (Points : 1)
    $245000
    $300000
    $345000
    $400000
    $450000
    Insurance need = $50000 x .7 x 7 = $245000
    Question 16.16. (TCO 4) Which type of insurance is sometimes called temporary insurance? (Points : 1)
    Whole life
    Term
    Straight life
    Ordinary life
    Modified life
    Question 17.17. (TCO 4) All of the following are innovative ways that concerned groups are containing healthcare costs except for (Points : 1)
    the establishment of incentives to encourage preventive care.
    encouraging the use of prepaid group practices.
    the establishment of community education programs so people can learn to take better care of themselves.
    encouraging doctors to pay cash for routine medical costs.
    picketing at hospitals and physician offices.
    Question 18.18. (TCO 4) In order to reduce your healthcare costs you should do your best to (Points : 1)
    live dangerously.
    gain a little extra weight.
    smoke and drink.
    stay well.
    not seek medical care.
    Question 19.19. (TCO 4) Because coverage and costs can vary from company to company it is important to shop carefully for _____ coverage. (Points : 1)
    group health
    individual health
    hospital expense
    surgical expense
    physician’s expense
    Question 20.20. (TCO 4) A(n) _____ policy might not cover all of your health insurance needs or may deny benefits if you lose your job. (Points : 1)
    comprehensive medical
    individual health
    basic health
    group health
    disability income

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