Podcast
Questions and Answers
A person is injured by an uninsured driver. Which type of coverage would help cover their medical expenses and vehicle repair costs?
A person is injured by an uninsured driver. Which type of coverage would help cover their medical expenses and vehicle repair costs?
- Uninsured motorist coverage (correct)
- Collision coverage
- Comprehensive coverage
- Liability coverage
What is the primary purpose of 'risk management' in personal finance?
What is the primary purpose of 'risk management' in personal finance?
- Identifying, assessing, and mitigating potential financial losses. (correct)
- Maximizing investment returns regardless of potential losses.
- Accumulating wealth rapidly through high-risk ventures.
- Avoiding all forms of financial risk.
If a health insurance plan requires you to pay $30 for each visit to your primary care physician, what is this payment called?
If a health insurance plan requires you to pay $30 for each visit to your primary care physician, what is this payment called?
- Premium
- Coinsurance
- Deductible
- Copayment (correct)
Which type of professional is primarily responsible for assessing risk and calculating insurance premiums?
Which type of professional is primarily responsible for assessing risk and calculating insurance premiums?
A homeowner wants to protect their house and belongings from damage due to fire, theft, or natural disasters. Which type of insurance policy do they need?
A homeowner wants to protect their house and belongings from damage due to fire, theft, or natural disasters. Which type of insurance policy do they need?
Flashcards
Uninsured Motorist Coverage
Uninsured Motorist Coverage
Coverage for damages when the at-fault driver has no insurance.
Insurance
Insurance
A contract that protects against financial loss, transferring risk to an insurer.
Copayment
Copayment
A fixed amount you pay for covered healthcare services after you've met your deductible.
Death Benefit
Death Benefit
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Risk Management
Risk Management
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Study Notes
- Question 13: Pre-existing condition
- Question 14: Copayment
- Question 15: Informed consent
- Question 16: Uninsured motorist coverage
- Question 17: Life insurance
- Question 18: Insurance policy
- Question 19: Homeowners insurance
- Question 20: Long-term care insurance
- Question 21: Disability insurance
- Question 22: Personal injury protection (PIP)
- Question 23: In-network provider
- Question 24: Whole life insurance
- Question 25: Risk management
- Question 26: Insurance
- Question 27: Out-of-network provider
- Question 28: Actuary
- Question 29: Death benefit
- Question 30: Premium
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