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MCQs

Total Questions : 34 | Page 2 of 4 pages
Question 11. The purpose of insurance is to completely transfer risk to other people
  1.    TRUE
  2.    FALSE
 Discuss Question
Answer: Option B. -> FALSE
Question 12. How many states elected not to expand Medicaid, limiting accessibility for their residents?
  1.    17
  2.    20
  3.    36
  4.    14
 Discuss Question
Answer: Option D. -> 14
Question 13. What does the acronym "ACA" stand for know as Obamacare?
  1.    Affordable Canine Act
  2.    Affordable Care Act
  3.    Amazing Care Action
  4.    Acronym Concerning Ants
 Discuss Question
Answer: Option B. -> Affordable Care Act
Question 14. According to the Affordable Care Act, children can be on their parents' health insurance until what age?
  1.    Until they get a full time job
  2.    22
  3.    26
  4.    28
 Discuss Question
Answer: Option C. -> 26
Question 15. _________ _________ insurance is a combination of a life insurance policy & a savings acct; it covers the insured for his or her lifetime and any amt the insured pays over the minimum premium goes into an investment acct that earns interest
  1.    traditional plan
  2.    whole life
  3.    term life
  4.    universal life
 Discuss Question
Answer: Option D. -> universal life
Question 16. _______ _________ insurance also known as permanent life insurance, offers financial protection for your entire life
  1.    term life
  2.    whole life
  3.    universal life
  4.    life
 Discuss Question
Answer: Option B. -> whole life
Question 17. ________ ___________ __________ is a whole life insurance policy that is paid up after a specified number of years, or until the insured reaches a certain age, but offers lifetime protection
  1.    health maintenance organization
  2.    preferred provider organization
  3.    limited payment policy
  4.    cash value
 Discuss Question
Answer: Option C. -> limited payment policy
Question 18. _______ _______ is the amount of money you will receive if you cancel your whole life insurance policy
  1.    deductible
  2.    medical
  3.    term life
  4.    cash value
 Discuss Question
Answer: Option D. -> cash value
Question 19. What does renters insurance cover?
  1.    The damage to the property
  2.    Earthquakes
  3.    Personal items the tenant owns
  4.    If a burglar breaks in and he/she is injured as a result
 Discuss Question
Answer: Option C. -> Personal items the tenant owns
Question 20. __________ insurance is financial protection for a family in case the main source of income dies
  1.    life
  2.    term
  3.    medical
  4.    health
 Discuss Question
Answer: Option A. -> life

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