FP 120 Week 5 Final Exam in class

FP 120 Week 5 Final Exam in class

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FP 120 Week 5 Final Exam in class

Instructions

Complete the Comprehensive Final Exam.

Submit your responses in a Microsoft^® Word^® document to the Assignment Files tab

5.1 Concept: Homeowners and Renters insurance

1. Liability is defined as

1. An insurance program for individuals and households

1. The legal responsibility for the financial cost of another person’s losses or injuries

1. Negligence

1. A loss due to physical damage

2. Which of the following best defines “actual cash value” in a home or renter’s insurance policy?

1. Insurance that pays the replacement value of damaged or stolen

1. Insurance that pays for additional living expense coverage

1. Insurance that pays the depreciated value of damaged or stolen property

1. Insurance that pays for the items included in a “rider”

5.2 Concept: Auto insurance

3. Motor vehicle coverage typically includes all of the following except

Text Location: p. 265, Difficulty: Medium, Question from: Test bank

1. Most legal expenses

1. Bodily injury liability up to a specified level for all injured in an accident

1. Medical payments up to the policy limit

1. Bodily injury liability of all expenses, no matter the cost, for the most injured