MCS 2100 QUIZ 4 | QUESTIONS AND ANSWERS | 10%
CORRECT.
The legal responsibility for the financial cost of another person's losses or
injuries is referred to as Answer - liability
Select the items that would be used to determine the required size of a life
insurance benefit. Answer - Debts of insured, funeral expenses, living expenses
of dependents
Kim just moved into her first apartment. The few possessions she has are
mostly second hand and worth very little so she has decided against tenant's
insurance. By not taking tenant's insurance what risks has she exposed herself
to? You may choose more than one answer. Answer - Her negligence causes
damage to the building, Her negligence causes damage to other tenant's
property, Loss of her possessions, She is responsible for personal injury of
others in her apartment
A plan that insures a large number of persons under the terms of a single policy
without a medical examination is called a(n) ____________ life insurance
policy plan. Answer - group
Tom earns $63,000 annually. Calculate the amount of life insurance he needs
using the income replacement method. Round your answer to the nearest
dollar. Enter your answer in this format ###,### Answer - 308,700
CORRECT.
The legal responsibility for the financial cost of another person's losses or
injuries is referred to as Answer - liability
Select the items that would be used to determine the required size of a life
insurance benefit. Answer - Debts of insured, funeral expenses, living expenses
of dependents
Kim just moved into her first apartment. The few possessions she has are
mostly second hand and worth very little so she has decided against tenant's
insurance. By not taking tenant's insurance what risks has she exposed herself
to? You may choose more than one answer. Answer - Her negligence causes
damage to the building, Her negligence causes damage to other tenant's
property, Loss of her possessions, She is responsible for personal injury of
others in her apartment
A plan that insures a large number of persons under the terms of a single policy
without a medical examination is called a(n) ____________ life insurance
policy plan. Answer - group
Tom earns $63,000 annually. Calculate the amount of life insurance he needs
using the income replacement method. Round your answer to the nearest
dollar. Enter your answer in this format ###,### Answer - 308,700
