Life/ Health Auto Homeowners Insurance- -General 100

Insurance Gen. for 100 Question: What is Risk? Check Your Answer

Insurance for 100 Answer: The chance of incurring a loss Back to the Game Board

Insurance for 200 Question: What is Economic Risk? Check Your Answer

Insurance for 200 Answer: The chance of incurring a loss of Money Back to the Game Board

Insurance for 300 Question: What is a deductible? Check Your Answer

Insurance for 300 Answer: The first dollars of a covered loss that the insured must pay. Back to the Game Board

Insurance for 400 Question: What is co- insurance? Check Your Answer

Insurance for 400 Answer: That part of a covered loss of which the insured pays a percentage. Back to the Game Board

Insurance for 500 Daily Double Check Your Answer

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. Back to the Game Board

Homeowners for 100 Question: How many perils are in Ho-1? Check Your Answer

Homeowners for 100 Answer: An Ho-1, standard fire policy, insures against 11 specific perils. Back to the Game Board

Homeowners for 200 Question: What is the difference between real and personal property? Check Your Answer

Homeowners for 200 Answer: Real property is anything permanently attached to land. Personal property is that which is not permanently attached. Back to the Game Board

Homeowners for 300 Question: What is another name for the HO-2 policy? Check Your Answer

Homeowners for 300 Answer: Another name for the Ho-2 policy is an Extended Coverage Policy. Back to the Game Board

Homeowners for 400 Question: What does HO-2 cover? Check Your Answer

Homeowners for 400 Answer: An Ho-2 policy covers all 11 perils covered in an Ho-1 plus 7 additional perils. Back to the Game Board

Homeowners for 500 Question: What is HO-3, called and what does it cover? Check Your Answer

Homeowners for 500 Answer: An Ho-3 covers “All Risks” except those specifically excluded in the policy. Back to the Game Board

Auto for 100 Question: Why do most people have auto insurance? Give two reasons. Check Your Answer

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. Check Your Answer

Auto for 200 Answer: 1. Property damage liability. 2. Collision. 3. Comprehensive physical damage. Back to the Game Board

Auto for 300 Question: What safety devices affect coverage? Check Your Answer

Auto for 300 Answer: Alarm systems, air bags, safety belts. Back to the Game Board

Auto for 400 Question: What is covered by medical payments? Check Your Answer

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. Back to the Game Board

Auto for 500 Question: What coverage’s apply if you’re vehicle is the victim of a “hit-and-run”? Check Your Answer

Auto for 500 Answer: Uninsured/Underinsured Motorists coverage applies if you are the victim of a “hit-and- run”. Back to the Game Board

Life/Health for 100 Question: Name the two types of life insurance. (General) Check Your Answer

Life/Health for 100 Answer: Term and Permanent are two types of Life Insurance. Back to the Game Board

Life/Health for 200 Question: What does hospitalization insurance cover? Check Your Answer

Life/Health for 200 Answer: Hospitalization insurance covers room, food, and facility expenses, during a hospital stay. Back to the Game Board

Life/Health for 300 Question: What is a good reason for a decreasing term life insurance policy? Check Your Answer

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. Check Your Answer

Life/Health for 400 Answer: Whole Life Universal Life Variably Life Back to the Game Board

Life/Health for 500 Question: What is key- man life insurance? Check Your Answer

Life/Health for 500 Answer: Life insurance purchased and owned by a business on irreplaceable people within the business. Back to the Game Board