Insurance — Unit test Answers

29 verified answers7 views
22
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Which is the best question for Joe to ask himself when deciding whether to open a checking or savings account?

A
Is there an ATM near my home or work?
B
Does the bank offer free checking?
C
If I need a loan, will they give it to me?
D
Why am I opening a bank account?
23
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What is the definition of liability?

A
the amount a consumer must pay after an incident before the insurance company starts paying
B
the monthly amount paid for insurance
C
intentionally destroying something in order to collect insurance
D
a responsibility to pay for or fix a problem
26

Which is most likely to happen to consumers with good credit? Check all that apply.They can be approved for loans.They are denied a mortgage.They can receive lower interest rates.They are denied an unsecured loan.They can use credit in emergencies.They are forced into high interest rates.

A
They can be approved for loans.
B
They are denied a mortgage.
C
They can receive lower interest rates.
D
They are denied an unsecured loan.
E
They can use credit in emergencies.
F
They are forced into high interest rates.
27

best

w
writing them down on one list and keeping them in a safe place at home
t
typing them into her smartphone so they are easily accessible
t
typing them into an e-mail and sending it to her personal e-mail account
w
writing them down on one list and keeping them in her wallet
28

The image shows a sales receipt.

Question illustration
A
6.25 percent
B
8.5 percent
C
10 percent
D
10.85 percent
29

Which is a kind of federal payroll tax?

A
medicare tax
B
sales tax
C
property tax
D
progressive tax
30

Who is following the law when it comes to protecting investors’ funds?

A
a financial planner who pitches a risk-free stock
B
a mutual fund advisor who informs investors about risks
C
a broker who sells CDs from nonfinancial institutions
D
a realtor who advertises a can’t-miss land buy

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