12_1 INSURANCE BASICS 101
Presentation
•
Financial Education
•
12th Grade
•
Medium
Wilbur Winborne
Used 2+ times
FREE Resource
18 Slides • 28 Questions
1
2
Multiple Choice
All health insurance policies are required to cover basic health services like an annual physical exam before your deductible is met.
True
False
3
Multiple Choice
The amount you pay for insurance coverage.
Premium
Deductible
Co-Pay
Policy
4
Multiple Choice
The contract which details your insurance coverage.
Premium
Deductible
Co-Pay
Policy
5
Multiple Choice
The amount of money you must pay upfront/out of pocket before your insurance coverage begins to pay.
Premium
Deductible
Co-Pay
Policy
6
Multiple Choice
The amount of money you must pay upfront/out of pocket at a medical office before seeing the doctor/specialist.
Premium
Deductible
Co-Pay
Policy
7
Multiple Choice
Deductibles are calculated on a(n) ________ basis.
daily
monthly
annual (yearly)
throughout the life of the policy
8
Multiple Choice
government subsidized insurance for individuals below the poverty line
medicare
medicaid
Obamacare
9
Multiple Choice
10
Multiple Choice
11
Multiple Choice
12
Multiple Choice
13
Multiple Choice
Which of the following is a way to reduce the cost of your insurance premium?
Good grades
Number of miles you drive
Where you live
All answers are correct
14
Multiple Choice
An auto insurance is a policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident.
True
False
15
Multiple Choice
Which statement about auto insurance risk is true?
Higher risk driver results in higher premium
Lower risk driver results in lower premium
Higher risk vehicle results in higher premium
All of the Above are True
16
Multiple Choice
What does homeowners insurance cover?
Fire
Theft
Tornado
All of the above
17
Multiple Choice
A formal request to an insurance company asking for a payment when the policyholder has an accident, illness or injury.
claim
request
complaint
18
Multiple Choice
Dwelling coverage does not generally cover which of the following:
tornado
fire
flood
19
Multiple Choice
Who needs homeowners insurance?
Everyone
Someone who is looking to buy a home
People who own homes and have a mortgage
People who work from home
20
Multiple Choice
Which one would home insurance NOT cover?
Rat infestation
Burst Pipes
21
Multiple Choice
What is the key difference between homeowners insurance and renters insurance?
Homeowners insurance covers personal property, while renters insurance does not.
Renters insurance covers liability, while homeowners insurance does not.
Homeowners insurance covers the dwelling, while renters insurance does not.
Renters insurance covers the dwelling, while homeowners insurance does not.
22
Multiple Choice
What does renters insurance cover?
Liability coverage
Personal belongings
Dwelling
Loss of use coverage
23
Multiple Choice
How much is the average monthly cost of renters insurance?
$15
$150
$1500
$15000
24
Multiple Choice
What is Flood Insurance?
Property protection from natural flooding damage.
Free money from government if you complain enough.
The government will buy you a completely new house if you are flooded out.
Not enough information to know.
25
Multiple Choice
Over 70% of homeowners do not have flood insurance.
True
False
26
Multiple Choice
The cost of flood insurance will depend on what area you live in.
False
True
27
Multiple Select
What does flood insurance cover?
cars
land
house
belongings
28
Multiple Choice
What does FEMA stand for?
Federal Emergency Management Agency
Federal Extra Management Agency
Federal Emergency Manufacturing Agency
29
Multiple Choice
Is flood insurance required?
No, it is not required
Yes, it is required
30
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