Which of the following losses to a dwelling would be covered under an unendorsed Homeowners 3 policy?
damage to the structure caused by the weight of heavy snow
All of the following are historical reasons for the increase in health care expenditures in the U.S. EXCEPT
universal health insurance coverage.
Advantages of selecting the paid-up additions dividend option in a life insurance policy include which of the following?
I.Evidence of insurability is not required to purchase additional insurance.
II.The additions are purchased at net rates without a loa
both I and II
Which of the following property is covered under the personal property coverage (Coverage C) of the Homeowners 3 policy?
a bicycle owned by a foster child living with the named insured
Which of the following statements about the additional coverage for damage to property of others in Section II of the homeowners policy is true?
Payments are made on the basis of the replacement cost of the damaged property.
Which of the following statements about the additional coverages under Section I of the Homeowners 3 policy is true?
There is coverage for the reasonable cost incurred to protect property from further damage after a covered loss occurs.
Which of the following statements about preferred provider organization (PPO) health plans is (are) true?
I.A PPO plan contracts with health care providers to provide medical services to members at reduced fees.
II.Plan members are given a financial incen
both I and II
Shauna purchased a condominium unit. Which homeowners policy is specially designed for condominium unit owners?
HO-6
Lu would like to save money on her homeowners premium. All of the following steps will help her to reduce her homeowners premium EXCEPT
insuring the value of the land beneath the house.
Which of the following statements about the Homeowners 3 policy is (are) true?
I.Losses to the dwelling are always settled on an actual cash value basis.
II.Coverage on personal property is limited to $5,000.
neither I or II
Darla purchased an unendorsed Homeowners 3 policy. While the policy was in force, a fire occurred that destroyed a living room set. The living room set cost $4,000 new, but was 25 percent depreciated when the loss occurred. Replacement furniture will cost
$3,300
Which of the following statements is (are) true concerning settlement options?
I.A straight life annuity provides the lowest amount of periodic income of all the life income options.
II.Fixed-period and fixed-amount are life income options.
neither I nor II
Which of the following statements about eligibility requirements for homeowners insurance is (are) true?
I.A contract can be written on a twenty-unit apartment complex as long as the tenants are families.
II.Separate forms are available for renters and co
II only
Brian purchased an unendorsed Homeowners 3 policy. Under the policy, Brian's detached garage is also covered. Which of the following statements regarding coverage on the garage is true?
The cost of removing debris is included in the policy limit on the garage, but if the damage and cost of removing debris exceed the limit, an additional five percent of the policy limit is available.
Which of the following is (are) characteristics of HMO managed care plans?
I.Unlimited choice of physicians and hospitals
II.Emphasis on controlling the cost of covered services
II only
Which of the following types of families is likely to have the least need for a large amount of life insurance?
a single person family
The Homeowners 3 policy limits the amount of coverage provided on certain personal property (e.g. coin collections and silverware) . This personal property can be adequately insured by
adding a schedule to the policy listing the property with specific amounts of insurance.
The inability of the insured to perform some but not all of the important duties of his or her occupation is called
partial disability
The Affordable Care Act requires all new medical expense plans to provide a comprehensive set of coverages and services. This comprehensive set of coverages and services that must be provided are called
essential health benefits
Which of the following statements about buying homeowners insurance is true?
Premiums often can be reduced substantially by selecting a higher deductible.
Tim purchased a 10-payment whole life insurance policy 15 years ago. Tim would like to donate this paid-up policy to a charity. Under which policy provision can Tim transfer all ownership rights in the policy to the charity?
absolute assignment
The period during which a surviving spouse is ineligible for Social Security benefits is referred to as the
blackout period.
Which of the following statements about health savings accounts (HSAs) is true?
Once an individual has reached age 65 or is covered by Medicare, no additional contributions to the HSA may be made.
The difference between the legal reserve of a whole life policy and the face amount of insurance is the
net amount at risk.
Jan needed health insurance. She met with an agent who described the provisions of a health insurance policy. Jan purchased the policy. When she received the policy, she noted that several provisions were different from the provisions the agent described.
ten-day right to examine the policy