MISSISSIPPI INSURANCE TEST COMPLETE QUESTIONS & ANSWERS
(GRADED A).Buy Quality Materials!
What is an insurace premium?
insurance premium means that you have a bigger budget for expenses and you have
more money for fees. the higher the premium, the more companies will cover.
How do you think the insurance companies select the criteria to determine the
cost of your premium?
I think that the insurance companies determine criteria by credit history and by your past
health, car crashes, unexpected thing that insurance would cover.
Jerry has an insurance policy with a premium of $150 per month. In June, he's in
an accident and receives a bill with a total cost of $6000. His deductible is $1500,
and his coverage limit is $4000. How much total money will Jerry pay in the
month of June?
The total is $250.
Assume Lauren has the same exact accident, but her monthly premium she pays
for the insurance policy is $250. Would you expect Lauren's deductible to be
higher, lower, or the same as Jerry's? Why?
I would expect it to be lower because of the premiums cost.
Where do insurance companies get the money to pay for losses suffered by their
customers?
They get the money from premiums and fees.
Why do all people in a risk pool not pay the same amount?
They pay the same amount because they are paying for general people and not for
themselves.
How do insurance companies determine how much you should pay for your
insurance coverage?
The determine how much you should pay for your insurance coverage from your credit
score.
What is auto insurance?
nsurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to
provide financial protection against physical damage or bodily injury resulting from
accidents.
What is liability insurance?
covers the event that you are in a car accident and the police decide it is your fault,
liability insurance covers the cost of repairing any property damaged in the crash.
Collision Insurance
covers makes it so that someone else — your insurer — will pay for the repairs to your
car.
comprehensive Insurance
covers with a comprehensive insurance policy, however, your insurer will handle just
about any situation that comes up such as weather damage, theft, an animal collision.
Uninsured motorist protections
is insurance that covers your car in the case that an uninsured vehicle is in the accident.
Medical/ Personal-Injury Protection
covers The costs associated with treating injuries after a car accident
(GRADED A).Buy Quality Materials!
What is an insurace premium?
insurance premium means that you have a bigger budget for expenses and you have
more money for fees. the higher the premium, the more companies will cover.
How do you think the insurance companies select the criteria to determine the
cost of your premium?
I think that the insurance companies determine criteria by credit history and by your past
health, car crashes, unexpected thing that insurance would cover.
Jerry has an insurance policy with a premium of $150 per month. In June, he's in
an accident and receives a bill with a total cost of $6000. His deductible is $1500,
and his coverage limit is $4000. How much total money will Jerry pay in the
month of June?
The total is $250.
Assume Lauren has the same exact accident, but her monthly premium she pays
for the insurance policy is $250. Would you expect Lauren's deductible to be
higher, lower, or the same as Jerry's? Why?
I would expect it to be lower because of the premiums cost.
Where do insurance companies get the money to pay for losses suffered by their
customers?
They get the money from premiums and fees.
Why do all people in a risk pool not pay the same amount?
They pay the same amount because they are paying for general people and not for
themselves.
How do insurance companies determine how much you should pay for your
insurance coverage?
The determine how much you should pay for your insurance coverage from your credit
score.
What is auto insurance?
nsurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to
provide financial protection against physical damage or bodily injury resulting from
accidents.
What is liability insurance?
covers the event that you are in a car accident and the police decide it is your fault,
liability insurance covers the cost of repairing any property damaged in the crash.
Collision Insurance
covers makes it so that someone else — your insurer — will pay for the repairs to your
car.
comprehensive Insurance
covers with a comprehensive insurance policy, however, your insurer will handle just
about any situation that comes up such as weather damage, theft, an animal collision.
Uninsured motorist protections
is insurance that covers your car in the case that an uninsured vehicle is in the accident.
Medical/ Personal-Injury Protection
covers The costs associated with treating injuries after a car accident
