Life/ Health Auto Homeowners 100 200 300 400 500 200 300 400 500 100 200 300 400 500 100 200 300 400...
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Transcript of Life/ Health Auto Homeowners 100 200 300 400 500 200 300 400 500 100 200 300 400 500 100 200 300 400...
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Insurance--
General
100
Insurance Gen. for 100
Question:
What is Risk?
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Insurance for 100
Answer: The chance of incurring a loss
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Insurance for 200
Question:
What is Economic Risk?
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Insurance for 200
Answer: The chance of incurring a loss of Money
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Insurance for 300
Question:
What is a deductible?
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Insurance for 300
Answer: The first dollars of a covered loss that the insured must pay.
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Insurance for 400
Question: What is co-insurance?
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Insurance for 400
Answer: That part of a covered loss of which the insured pays a percentage.
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Insurance for 500
Daily Double
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Insurance for 500
Check Your Answer
Question: Describe the 3 categories of Economic Risk.
Insurance for 500
Answer:
Personal: Illness, disability, unemployment, death.
Property: Damage or loss of property due to theft, fire, flood, wind, or other hazard.
Liability: Potential losses and losses others might incur as a result of your actions or inactions.
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Homeowners for 100
Question: How many perils are in Ho-1?
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Homeowners for 100
Answer: An Ho-1, standard fire policy, insures against 11 specific perils.
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Homeowners for 200
Question: What is the difference between real and personal property?
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Homeowners for 200
Answer: Real property is anything permanently attached to land. Personal property is that which is not permanently attached.
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Homeowners for 300
Question: What is another name for the HO-2 policy?
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Homeowners for 300
Answer: Another name for the Ho-2 policy is an Extended Coverage Policy.
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Homeowners for 400
Question: What does HO-2 cover?
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Homeowners for 400
Answer: An Ho-2 policy covers all 11 perils covered in an Ho-1 plus 7 additional perils.
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Homeowners for 500
Question: What is HO-3, called and what does it cover?
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Homeowners for 500
Answer: An Ho-3 covers “All Risks” except those specifically excluded in the policy.
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Auto for 100
Question: Why do most people have auto insurance? Give two reasons.
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Auto for 100
Answer: 1. It’s the law.
2. Most people owe money for their cars and the lenders require them to carry insurance.Back to the Game Board
Auto for 200
Question: Name three property damage coverages.
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Auto for 200Answer:
1. Property damage liability.
2. Collision.
3. Comprehensive physical damage.
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Auto for 300
Question: What safety devices affect coverage?
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Auto for 300
Answer: Alarm systems, air bags, safety belts.
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Auto for 400
Question: What is covered by medical payments?
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Auto for 400
Answer: Policyholders and their families are covered while riding in their car or in someone else’s. Can pay regardless of fault.
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Auto for 500
Question: What coverage’s apply if you’re vehicle is the victim of a “hit-and-run”?
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Auto for 500
Answer: Uninsured/Underinsured Motorists coverage applies if you are the victim of a “hit-and- run”.
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Life/Health for 100
Question: Name the two types of life insurance. (General)
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Life/Health for 100
Answer: Term and Permanent are two types of Life Insurance.
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Life/Health for 200
Question: What does hospitalization insurance cover?
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Life/Health for 200
Answer: Hospitalization insurance covers room, food, and facility expenses, during a hospital stay.
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Life/Health for 300
Question: What is a good reason for a decreasing term life insurance policy?
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Life/Health for 300
Answer: A home mortgage is an excellent reason for decreasing term insurance.Back to the Game Board
Life/Health for 400
Question: Name three types of permanent insurance.
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Life/Health for 400Answer:
Whole Life
Universal Life
Variably Life
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Life/Health for 500
Question: What is key-man life insurance?
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Life/Health for 500
Answer: Life insurance purchased and owned by a business on irreplaceable people within the business.
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