Questions from Personal Finance

Q: Do you think all of the steps in the planned buying process

Do you think all of the steps in the planned buying process are used when buying simple everyday products (such as a loaf of bread or a half-gallon of milk), or are they used only when buying big-tick...

Q: List the four types of losses covered under the property insurance portion

List the four types of losses covered under the property insurance portion of a homeowner’s policy.

Q: Give three examples of liability protection under homeowner’s insurance policies

Give three examples of liability protection under homeowner’s insurance policies

Q: Name the three types of homeowner’s insurance policies for most residences:

Name the three types of homeowner’s insurance policies for most residences: HO-3, HO-4, and HO-6.

Q: Identify four types of personal property for which the covered loss is

Identify four types of personal property for which the covered loss is limited to a specific dollar amount under standard homeowner’s insurance policies (see Table 10-1). Table 10-1...

Q: List the three questions you should ask yourself when determining the policy

List the three questions you should ask yourself when determining the policy limits for a homeowner’s insurance policy.

Q: Distinguish among an exclusion, deductible, coinsurance, and a copay

Distinguish among an exclusion, deductible, coinsurance, and a copay.

Q: What is meant by the out-of-pocket maximum?

What is meant by the out-of-pocket maximum?

Q: Distinguish among the owner, the insured, the beneficiary, and

Distinguish among the owner, the insured, the beneficiary, and the contingent beneficiary of a life insurance policy.

Q: Distinguish between an incontestability clause and a suicide clause in a life

Distinguish between an incontestability clause and a suicide clause in a life insurance contract.