FINANCE CHAPTER 6 TRUE/FALSE & MULTIPLE CHOICE
Basic health care
Health insurance plan that includes coverage for medical, hospital, and surgery expenses...
Risk avoidance
Not participating in a dangerous activity is...
Liability coverage
Pays for if someone were to get injured in your home/property...
Term imsurance
Pure insurance?...
Risk assumption
Self-insuring is a form of...
Short-term disability
Temporary coverage for non-work related illness or injury..
Fee-for-service
Unmanaged care...
Replacement cost
What you pay to replace an item...
True
a major advantage to HMO's is their focus on preventive care and wellness
False
all risks have have serious potential losses and should be managed w/ risk avoidance or risk transfer
False
driving w/o a spare tire will usually lead to serious personal risk
Risk reduction
finding ways to lower your chance of loss is...
True
having a home security system can reduce your insurance premium
False
high-risk pools offer maximum insurance coverage at high cost to poor drivers
False
homeowners insurance protects a homeowner from fire damage but does not include liability coverage
False
if you have health insurance, you don't have to worry about the costs of health care
False
term insurance is an important part of your permanent life insurance plan
True
you can reduce your insurance premium cost by paying annually instead of monthly
False
you should assume the risk for large expenses & get insurance to cover small and routine costs