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5 Written questions

5 Matching questions

  1. Captive finance companies
  2. comprehensive insurance
  3. types of life insurance companies
  4. What factors the cost of a product (name brand v. Generic)
  5. Whole life
  1. a - a finance company owned by the parent company.
    -The purpose is to provide financing to costumer of parent companies that purchased there product.
  2. b - a whole life insurance throughout your life
  3. c - protects your car from other types of damages
    EX. weather, fire, theft
  4. d - brands indicate who the product was manufactured by or for
    -name brands are common household names and are advertised more and are also more expensive
    -store/ generic brands items manufactured for a specific food store. also they are not sold under a store or private label
  5. e -stock life: owned by stockholders
    -mutual life: owned by policy holders who share profits
    -fraternal societies: EX. knights of Columbus, Free Masons
    -Federal government: veterans and members of uninformed services

5 Multiple choice questions

  1. - payment history effects your _______ the most.
    -If you continue to payoff your credit, companies will continue to give you money
    -the scale is 300-900
    -it also effects your ability to obtain a loan/interest rate
  2. - actual cost value: cost of replacement
    -replacement cost: full cost of repaired damage
    -extended replacement cost: full cost of replacing/ rebuilding outside limits
  3. -indemnity plan: a private health care plan in which the policyholder is free to select his/her own health care provider
    -health maintenance org. (HMO): a managed health care plan that allows its members services preformed by Dr's and hospitals
    - preferred provider org. (PPO): a managed health care plan that offers medical benefits through a list of approved providers
    -Point of services (POS): a health insurance plan that has combined HMO's and PPO's
    -Dental insurance
    - vision insurance
  4. - a promise to preform/ pay for certain repairs or services.
  5. - a loan for a specific amount that must be paid back on or before a agreed date
    -mainly for car/home loans

5 True/False questions

  1. premiums for car insurance and deduables-stock life: owned by stockholders
    -mutual life: owned by policy holders who share profits
    -fraternal societies: EX. knights of Columbus, Free Masons
    -Federal government: veterans and members of uninformed services

          

  2. annual out of pocket limit_______ is a for using a companies credit card.

          

  3. home owners insurancethere are 6 types:
    -limited coverage: fire, lighting, vandalism
    -basic coverage: falling objects, ice, etc.
    -comprehensive: Everything
    -renters: personal belongings in a condo
    -older homes: cash damages rather then what you paid

          

  4. where does the profit for credit card companies come from?- brands indicate who the product was manufactured by or for
    -name brands are common household names and are advertised more and are also more expensive
    -store/ generic brands items manufactured for a specific food store. also they are not sold under a store or private label

          

  5. warranty of fitness- holds the seller accountable for a recommend use.
    Ex. 0 degree sleeping bag will work in the winter

          

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