Missed a question here and there? What type of automobile insurance coverage will provide reimbursement for damages to your car if you drove into a tree? A report from the police who responded to the accident, your insurance policy, a note from any witnesses or other person involved in accident, the address of the location where accident occured, When you apply for automobile insurance on your own, you will need to provide the insurance company with, Your social security number, details of insurance coverage requesting, your history of driving violations, the vehicle identification number (VIN) of the car you want to insure. 3 years ago. To play this quiz, please finish editing it. The amount paid for insurance is the . stephen_lee178. (Two), Disability insurance and medical insurance. Save. The time period in which premiums will be paid, C. 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One should have the knowledge of risk and how to mitigate or cover the risk is very important for well-being and lack of these knowledge can invite financial troubles in your personal life. Here are the secrets to pass your life & health insurance, property & casualty insurance and Series 6 license exam. What are the consequences of not having enough insurance coverage? The surviving beneficiary will continue receiving 2/3 of the b…, Which of the following statements is not true of a Combination…. After this payment, the insurance company covered the rest of the costs. Adequate Insurance Company agreed, but only on the condition that it receive a portion of the premium the client has paid to Shield Insurance Ltd. What is a stock company? The law of large numbers, risk pooling and insurable interest. Limit of FDI on Insurance in as per 2014 was: a) 47% b) 50% c) 49% d) 51% e) None of These Insurance Awareness Quiz with Answers - BankExamsToday Important links: Insurance companies allow policy holders to combine all vehicles and drivers on one policy, often resulting in cheaper premiums for the owner. Insurance DRAFT. Learn vocabulary, terms, and more with flashcards, games, and other study tools. The Federal Deposit Insurance Corporation (FDIC) now insures each depositor, for each ownership category, up to $250,000. The amount paid for insurance is the . It is designed to help you evaluate your comprehension of the general insurance concepts for which you will be tested in your insurance license qualification exam. What is consideration? You have reached your deductible of $2000, but you have not reached your maximum out-of-pocket limit of $4000 and your co-insurance begins. 65% average accuracy. The term that best describes this scenario is A) retention. 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The policy matures and the cash value is paid to the insured. This practice exam covers general insurance concepts. Insurance is something we often don't think about until we need it. 2. I'll give you some basic insurance related terms and concepts as they relate to insurance in the United States. Every vehicle needs to be on each of its drivers’ policies. "An agreement between two or more parties enforceable by law" is defined as what? LaTonya purchases a house from John. (hint: choose 3 correct answers) Enroll now and Get an Insurance License! Edit. If you were in a car accident, what is needed when you file a claim? Which types of insurance are most appropriate for a single, working, 24-year-old? It looks like your browser needs an update. What do you pay out-of-pocket on an automobile or property insurance claim? Learn insurance with free interactive flashcards. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Cost of repairs, how much you drive in a year, driving record. This is a quiz for your Insurance mastery. What type of automobile insurance coverage will provide reimbursement to the property owner if the tree is damaged? More. 25 questions, rated Tough. Upon the death of the insured, the contract is des…, Policyowners are entitled to receive dividends, Broad term used to describe policies that cover loss of income…, 1. Average superferd Apr 01 03 705 plays 4. The correct answers are in … This quiz and corresponding worksheet will gauge your knowledge of the basics of health insurance and health care. Property and Casualty Insurance License Exam Cram. Tends to follow the person. Which is true about the cash surrender nonforfeiture option? Played 1,080 times. Preview this quiz on Quizizz. eZine Articles.com. What coverage reimburses a car's owner if the car is stolen? Test your understanding of Insurance concepts with Study.com's quick multiple choice quizzes. Insurance DRAFT. Wh…, exchanging an existing policy for a new policy, The transaction is considered replacement, it has the highest amount of insurance protection, a reinstated policy provides immediate coverage for an illness, If the Primary beneficiary dies BEFORE insured, Normally, a guardian is required to be appointed in the Benefi…, The early years are charged more than what is needed, temporary protection that lasts only for a specified period of…, premiums remain the same thoughout the life of the policy, level premium, as do all policies, but the face amount increas…, A. Ill give you some basic insurance related terms and concepts as they relate to insurance in the United States. Get Started. Fundamentals of Insurance - Chapter 3 - Self Exam Question 8 - 15 cards Fundamentals of Insurance - Chapter 4 - 11 cards Fundamentals of Insurance - Chapter 5 - 21 cards Use this quiz/worksheet combo to test your understanding of insurance. Accidental injury is an unforeseen and unintentional bodily…, Pays periodic benefits when an insured cannot work because of…, Covers the cost of medical treatments, physician's fees, hospi…, The party making application, offering himself/herself or anot…, A document that provides information for underwriting purposes…, A person's age at any point or time (age at policy issue, rene…, The date when insurance coverage begins (may also be known as…, Accepting late premiums after grace period, 12:01am standard time at the location of the insured's property. The chief officer of the Dep. Insurance is a type of risk management mainly used to deter against the risk of a contingent or uncertain loss. A. Preview this quiz on Quizizz. The chance of loss from some type of danger, Written contract detailing what an insurance company will cover, how much it will pay, how much you will pay, The maximum amount the insurance company will pay if you file a claim, The rights and responsibilities of the insured and the insurance company, A request for payment to recover financial loss from damages, Two most important types of insurance you need at a young age. Allows an applicant to seek insurance for any other living entity. -Disability insurance is not necessary if you have a good health insurance policy. Tags: The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. To ensure the best experience, please update your browser. This quiz and worksheet combo will help you quickly assess your understanding of the different types of insurance plans people can obtain. Premium, deductible, liability, collision, comprehension. Offer good through Dec. 18. Questions focus on key terms related to this field. A foreign insurer is incorporated where? All of the following may be excluded from coverage in a Major…, SIMPLE Plans require all of the following EXCEPT, Soliciting is any effort to influence a person to purchase an…, Negotiating is communicating with a prospective client with re…, Effectuating is actually putting insurance related products in…, Insurance activities are performed by Agents, Brokers and/or C…, Requires an agent to register with the NASD before selling... Ca…, 40 year old wants to retire at 70; wants level premiums, perma…, Owner controls where the investments will go and selects the a…, Enables and individual to leave the group and continue his or…. A philosophical curiosity to be debated by academics. Take this quiz! -After college, short-term disability should be covered by your emergency fund of three to six monthsʹ worth of expenses, staying out of debt, and having a money plan. amount paid with the accelerated benefit, plus the earnings lo…, collecting a charge for insurance that is less than the charge…, the premium is fixed for the entire duration of the contract, 45 days.... A notice of increase in premiums that exceeds 15% of…, 15 months.... A temp license is good for 6 months and can be ren…. She borrows $75,000 from First City Bank that, along with her $25,000 down payment, equals the $100,000 purchase price of the home. Your coverage should be for 65% of your income. Take insurance quiz questions and answers to test your knowledge on “ Basics of Insurance for Beginners module”. Key Concepts: Terms in this set (9) Liability insurance. The United States is one of the few countries where health insurance is provided by private companies rather than through a national policy. About This Quiz & Worksheet. After taking the insurance quiz from the National Association of Insurance Commissioners, find out the answers below. This quiz is incomplete! Almost everyone has it, but not enough people understand it. I am a claims adjuster for automobile insurance. B) reinsurance. Learn vocabulary, terms, and more with flashcards, games, and other study tools. All questions will be multiple choice. You must be logged in to leave a comment. A car insurance policy can consist of multiple parts, each paying for a different type of problem. Learn vocabulary, terms, and more with flashcards, games, and other study tools. K - University grade. All questions will be multiple choice. by busmath. If you don’t understand all the parts, you might not know what your current policy covers. Start studying Insurance Test. Tends to follow the vehicle. Not meeting long-term financial goals, not having a vehicle for transportation, poor credit rating, not being able to stick with your budget, Which general types of insurance is often provided by employers? Auto Insurance Quiz Answers. Take this 10-question quiz and learn how health insurance literate you are compared to a nationally representative survey of U.S. adults who were asked the same questions. Trivia Quiz - Insurance Terminology Category: Insurance Quiz # 57,770. Get Answers to the Insurance Quiz. By MisterE76. 3 years ago. Start studying Insurance Quiz. PLAY. 3. To spread this risk, Shield Insurance Ltd. contacted Adequate Insurance Company to request that it cover a portion of the risk. GJEL » Personal Injury Resources » Auto Insurance Quiz Answers. Members save … Read the passage about a family health insurance … Gravity. Of its drivers’ policies what coverage reimburses a car 's owner if tree. 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