BUSN 380 DEVRY WEEK 6 QUIZ LATEST

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BUSN 380 DeVry Week 6 Quiz Latest

BUSN380

BUSN 380 DeVry Week 6 Quiz Latest

  1. Question : (TCO 4)_____ risks refer to potential losses due to negligence resulting in bodily harm or property damage to others.
  • Speculative
  • Liability
  • Property
  • Personal
  • Commercial

Question 2. Question : (TCO 4) If you decide to install a new home security system with cameras, this is an example of _____ risk.

  • shifting
  • accepting
  • transferring
  • sharing
  • reducing

Question 3. Question : (TCO 4) The failure to take ordinary and reasonable care is referred to as

  • negligence.
  • a benefit.
  • damage.
  • high risk.
  • a hazard.

Question 4. Question : (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.

  • umbrella
  • vicarious
  • common situation
  • peril
  • assigned

Question 5. Question : (TCO 4) Which of the following is not considered personal property for home insurance coverage?

  • An automobile
  • A garage
  • Furniture
  • Appliances
  • A permanently installed air conditioning unit

Question 6. Question : (TCO 4) State Farm has provided a quote to you for an umbrella policy. This type of policy provides coverage for

  • expensive personal property.
  • additional buildings on your property.
  • property when traveling away from home.
  • major personal liability suits.
  • flood damage.

Question 7. Question : (TCO 4) When obtaining a home insurance policy, you will find that most will already provide coverage for

  • earthquake damage.
  • flood damage.
  • medical payments.
  • personal property floaters.
  • an umbrella liability.

Question 8. Question : (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.

  • replacement value
  • actual cash value
  • umbrella
  • endorsement
  • personal property floater

Question 9. Question : (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?

  • $250
  • $0
  • $900
  • $650
  • Not able to determine from this information

Question 10. Question : (TCO 4) _____ coverage pays for medical care for people who were injured in your automobile.

  • Comprehensive
  • Bodily injury liability
  • Collision
  • Medical payments
  • No-fault insurance

Question 11. Question : (TCO 4) The 50 in 100/300/50 refers to _____ coverage.

  • collision
  • bodily injury liability
  • property damage liability
  • medical payments
  • comprehensive physical damage

Question 12. Question : (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.

  • uninsured motorists protection
  • collision
  • comprehensive physical damage
  • property damage liability
  • assigned risk

Question 13. Question : (TCO 4) Individuals and families purchase life insurance primarily to

  • 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. Question : (TCO 4) You probably have little or no need for life insurance if you are

  • 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. Question : (TCO 4) Your annual income is $50,000. What is your life insurance need based on the easy method?

  • $245,000
  • $300,000
  • $345,000
  • $400,000
  • $450,000

Question 16. Question : (TCO 4) Which type of insurance is sometimes called temporary insurance?

  • Whole life
  • Term
  • Straight life
  • Ordinary life
  • Modified life

Question 17. Question : (TCO 4) All of the following are innovative ways that concerned groups are containing healthcare costs except for

  • 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. Question : (TCO 4) In order to reduce your healthcare costs, you should do your best to

  • live dangerously.
  • gain a little extra weight.
  • smoke and drink.
  • stay well.
  • not seek medical care.

Question 19. Question : (TCO 4) Because coverage and costs can vary from company to company, it is important to shop carefully for _____ coverage.

  • group health
  • individual health
  • hospital expense
  • surgical expense
  • physician’s expense

Question 20. Question : (TCO 4) A(n) _____ policy might not cover all of your health insurance needs or may deny benefits if you lose your job.

  • comprehensive medical
  • individual health
  • basic health
  • group health
  • disability income