5 Written Questions

1. set amount that the policyholder must pay per loss on an insurance policy.
2. the failure to take ordinary or resonable care to prevent accidents from happening.
3. purchaser of the policy.
4. payment you recieve is based on the replacement cost of an item minus depreciation.
5. the insurance company agrees to take on the risk.

5 Matching Questions

1. no-fault system
2. insurance
3. assigned risk pool
4. risk
5. personal property floater

1. a chance of loss or injury
2. b additional property insurance that covers the damage or loss of a specific item og high value.
3. c includes all the people who can't get automobile insurance.
4. d drivers who are involved in accidents collect money from their own insurance companies.
5. e protection against possible financial loss.

5 Multiple Choice Questions

1. requires drivers to prove that they can pay for damage or injury caused by an automobile accident.
   1. liability
   2. umbrella policy
   3. bodily injury liability
   4. financial responsibility law
2. insurance tha covers you and your family members if you are involved in an accident with an uninsured or hit-and-run driver.
   1. uninsured motorist's protection
   2. assigned risk pool
   3. insured
   4. umbrella policy
3. method for settling claims you recieve the full cost of repairing or replacing an item.
   1. replacement value
   2. negligence
   3. deductible
   4. actual cash value
4. legal responsibility for the financial cost of another person's losses or injuries.
   1. claims
   2. liability
   3. collision
   4. policy
5. a list or other documentation of personal belongings with purchase dates and cost information.
   1. negligence
   2. policy holder
   3. household inventory
   4. homeowners insurance

5 True/False Questions

1. homeowners insurance → protection against possible financial loss.

   True        False

2. hazard → the people who are protected by the policy.

   True        False

3. insured → the people who are protected by the policy.

   True        False

4. claims → requests for payment to cover financial losses.

   True        False

5. insurance compnay → risk sharing business that agrees to pay for losses that may happen to someone it insures.

   True        False