Questions from Personal Finance


Q: Paul wants to purchase his own home. He currently lives in

Paul wants to purchase his own home. He currently lives in an apartment, and his rent is being paid by his parents. Paul’s parents have informed him that they would not pay his mortgage payments. Paul...

See Answer

Q: What is risk? What is risk management? How does insurance

What is risk? What is risk management? How does insurance fit into risk management?

See Answer

Q: What is the interest payments option? How does it differ from

What is the interest payments option? How does it differ from the installment payments option?

See Answer

Q: What is the responsibility of the insurance company that sells you a

What is the responsibility of the insurance company that sells you a policy? What is the relationship between insurance company claims and premiums paid by policyholders?

See Answer

Q: What is the role of insurance underwriters? What is the role

What is the role of insurance underwriters? What is the role of insurance agents? Describe the two different types of insurance agents.

See Answer

Q: Describe the two components of liability coverage in an auto insurance policy

Describe the two components of liability coverage in an auto insurance policy.

See Answer

Q: What do policy limits of 25/50/25 mean?

What do policy limits of 25/50/25 mean? Do you think the minimum amounts of liability insurance required by your state are suitable for all drivers? Explain your answer

See Answer

Q: Describe the two types of financial responsibility laws most states have.

Describe the two types of financial responsibility laws most states have. Are these laws always effective?

See Answer

Q: How does medical payments coverage under an auto insurance policy work?

How does medical payments coverage under an auto insurance policy work? Why is medical payments coverage valuable even if you have a good health insurance plan?

See Answer

Q: Describe collision and comprehensive coverage. Is this type of coverage required

Describe collision and comprehensive coverage. Is this type of coverage required by most states? Who may require this type of coverage?

See Answer