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INSURANCE MCQs

Total Questions : 34

Page 1 of 4 pages
Question 1. A(n) ____________ is a predetermined flat fee you pay for health care services
  1.    co-insurance
  2.    whole life
  3.    co-payment
  4.    term
 Discuss Question
Answer is Option C. -> co-payment
Question 2. Most experts in personal finance say that everyone should have life insurance no matter what age you are
  1.    TRUE
  2.    FALSE
 Discuss Question
Answer is Option B. -> FALSE
Question 3. After your knee surgery, you are unable to work for 3 months and you need help paying expenses while you're out of work
  1.    Disability Insurance
  2.    Health Insurance
  3.    Life Insurance
  4.    Automobile Insurance
 Discuss Question
Answer is Option A. -> Disability Insurance
Question 4. _______________ requires you to pay either a set amount or a certain percent of medical expenses
  1.    co-insurance
  2.    co-payment
  3.    life term
  4.    term life
 Discuss Question
Answer is Option A. -> co-insurance
Question 5. An unexpected death of a family member occurs and results in funeral expenses
  1.    Long-term care Insurance
  2.    Disability Insurance
  3.    Life Insurance
  4.    Liability Insurance
 Discuss Question
Answer is Option C. -> Life Insurance
Question 6. Your house is destroyed by a tornado and you need to rebuild it
  1.    Homeowners Insurance
  2.    Renters Insurance
  3.    Life Insurance
  4.    Liability Insurance
 Discuss Question
Answer is Option A. -> Homeowners Insurance
Question 7. When you shop for life insurance, you should consider only the cost or premium you will pay
  1.    TRUE
  2.    FALSE
 Discuss Question
Answer is Option B. -> FALSE
Question 8. What is the main purpose of insurance?
  1.    to follow the law
  2.    to get weathly
  3.    For investment purposes
  4.    To reduce risk
 Discuss Question
Answer is Option D. -> To reduce risk
Question 9. This type of insurance should pay if you severely burn your finger on a toaster and need to go to the hospital
  1.    Life
  2.    Health
  3.    Product
  4.    Homeowners
 Discuss Question
Answer is Option B. -> Health
Question 10. _____________ ___________ __________ is a prepaid health plan in which care providers contract with (or are) employees of the org
  1.    preferred provider organization
  2.    health maintenance organization
  3.    life insurance
  4.    non-life insurance
 Discuss Question
Answer is Option B. -> health maintenance organization
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