FINC352 Final Exam Latest
Questions
1. Assume that you have limits of 15/25/15
($15,000/$25,000/$15,000), the minimum required in the state where your car is garaged. If you
are driving in a state that requires 25/50/20 ($25,000/$50,000/$20,000) and are involved in an
accident, your insurer will interpret your policy as if it had the higher limits. Thus, even though
you have to meet only the requirements where you live, your policy will provide the limits you
need in any state or province in which you may be driving. Identify the provision in your
automobile insurance policy that makes this possible.
a. Indemnification
b. Stacking
c. Out-of-state
d. Redlining
e. Gentrification
2. This Act of 1986 directs that employers of more than twenty employees who maintain a group
medical plan must allow certain minimum provisions for continuation of benefit coverage. The
Act’s continuation provisions require that former employees, their spouses, divorced spouses,
and dependent children be allowed to continue coverage at the individual’s own expense upon
the occurrence of a qualifying event. Identify this Act.
a. Consolidated Omnibus Budget Reconciliation Act
Questions
1. Assume that you have limits of 15/25/15
($15,000/$25,000/$15,000), the minimum required in the state where your car is garaged. If you
are driving in a state that requires 25/50/20 ($25,000/$50,000/$20,000) and are involved in an
accident, your insurer will interpret your policy as if it had the higher limits. Thus, even though
you have to meet only the requirements where you live, your policy will provide the limits you
need in any state or province in which you may be driving. Identify the provision in your
automobile insurance policy that makes this possible.
a. Indemnification
b. Stacking
c. Out-of-state
d. Redlining
e. Gentrification
2. This Act of 1986 directs that employers of more than twenty employees who maintain a group
medical plan must allow certain minimum provisions for continuation of benefit coverage. The
Act’s continuation provisions require that former employees, their spouses, divorced spouses,
and dependent children be allowed to continue coverage at the individual’s own expense upon
the occurrence of a qualifying event. Identify this Act.
a. Consolidated Omnibus Budget Reconciliation Act
