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PF Unit 5: Protecting and Insuring Flashcards | StudBud
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PF Unit 5: Protecting and Insuring
PF Unit 5: Protecting and Insuring
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Flashcards
35 cards
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Practice quiz
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Questions
35
Answers
1
Individuals should always purchase fraud protection if available.
False
True
2
What type of insurance would cover a doctor visit?
Life
Disability
Property and liability
Health
3
The purpose of insurance is to make you financially better off than you were before.
True
False
4
What is the difference between Property (P) and Liability (L) insurance?
Difference between P&L varies with auto, home or renters ins
Difference between P&L depends on specific policy purchased
P pays loss to insured person, L pays for loss to others
P pays loss to others, L pays for loss to insured person
5
A scammer has attached a device to a gas pump to access certain credit card information.
Stealing
Computer
Skimming
Phishing
6
A scammer is using email to pretend to be your depository institution.
Phishing
Skimming
Stealing
Computer
7
Insurance can be purchased to protect one from which of the following losses?
Car maintenance
Health care expenses
Maintaining the price of your home
Stock market losses
8
Constantly monitor financial information to reduce your risk of fraud.
False
True
9
Bo will need to pay $120 per month to purchase a health insurance policy. This is known as the:
deductible
moral hazard
co‐insurance
premium
10
Jim's employers provides him with health, life, and disability insurance. This is known as:
coverage
household production
employee benefits
government programs
11
It is recommended that life insurance be purchased when the:
individual reaches the age of 50
individual flies in an airplane
individual has dependents
individual gets their first job
12
Lee plans to do some of her Christmas shopping online. What safety tip should she follow?
Use a debit card
Black out the bank account numbers on the credit card bill
Use a credit card
Shred all sales receipts
13
Once information is posted online, it can easily be deleted.
True
False
14
Cal’s wallet was stolen. Which is NOT something an identity thief might do with his info?
Rent an apartment under Cal’s name
Take a college admissions exam in Cal’s name.
Make purchases with Cal’s credit card
Use Cal’s name during an arrest
15
Max wants to guard his personal info. Which info is LEAST LIKELY to be used by scammers?
Phone numbers
Driver’s license numbers
Bank account numbers
Credit card numbers
16
Which of the following actions
will not
make an individual vulnerable to identity theft?
Responding to an email from your depository institution
Throwing mail in the garbage
Using a computer without updated spyware
Paying cash for a concert ticket
17
DJ and Ethan moved into an apartment together, who is responsible for the Renter's Insurance?
Ethan
DJ
Both
The landlord
18
Which of the following is an act of identity theft?
Acquiring & using someone’s personal identification
Receiving permission to use parent’s credit card to shop
Having the same name as another person
Taking the identity of another as inspiration for a costume
19
Liability insurance covers accidental harm that may be caused to other people or property.
True
False
20
Consumers should access each of their three credit reports at least once per year.
False
True
21
Which is a general rule to minimize identity theft when dealing with credit reports?
Check each credit report at least once per year.
Wait 60 days to disputing any bad info on credit report.
Keep credit reports on file, if fraud occurs
Report errors to credit report agency & they will fix others
22
U received a medical bill for $1000. U have $500 deductible & 20% co‐insurance. What do U pay?
$600
$500
$700
$0, insurance will cover the entire medical bill
23
A scammer hacked your computer to access your personal information.
Computer
Identify Theft
Diverting Mail
Skimming
24
Jack was in a car accident and can’t work. What type of insurance replaces his earnings?
Life
Health
Unemployment
Disability
25
Sam learned that his identity had been used during an arrest, but he had never been arrested.
Skimming
Diverting Mail
Computer
Identify Theft
26
Jo was killed in an automobile accident. What insurance would help her family financially?
Disability
Health
Life
Property and liability
27
A scammer uses information that was carelessly discarded in the trash.
Computer
Phishing
Skimming
Stealing
28
A beneficiary is the individual who takes out the life insurance policy.
True
False
29
A debit card should be used when making online purchases.
False
True
30
Which of the following best describes the benefits of having insurance?
Ins + savings gives a sense of fin security & peace of mind
Required to purchase insurance so benefits don't matter
All risk of financial loss is transferred to insurance co
Policyholder may benefit financially if accident occurs
31
Someone went to the post office and filled out a change of address form that you have moved.
Skimming
Computer
Identify Theft
Diverting Mail
32
Kit wants to decrease the risk of fraudulent use of her credit cards. What should she do?
Giving account # over internet rather than over the phone
Signing the back of her card with her signature and “See ID”
Using cc for all purchases to only pay one bill each month
Carrying all credit cards in wallet so they don’t get lost
33
Dee has chosen Joe to be the beneficiary of her life insurance policy. What does this mean?
Joe must pay insurance premiums to keep policy in effect.
Joe is required to serve as the executor of Dee’s estate.
Joe will get money for selling Dee a life insurance policy.
Joe will receive any proceeds if Dee dies
34
Automobile Liability Insurance covers what scenario?
Severe hailstorm caused $2000 damage to car.
Hit a deer driving to work causing $2000 in damages
Accident, $2000 in damages to your car & $3000 to the other.
Uninsured driver caused $2000/damages to car & $3000 to his
35
Mel was involved in a car accident. Her insurance co is requiring her to pay $500 because:
the cost of the repairs is higher than her policy covers
her policy's deductible is $500
she didn't call her agent & report the accident quick enough
she will be reimbursed by the insurance company later
