1. A___________ allows a homeowner access their equity without selling their home. These types of mortgages are typically found to be popular with the elderly.

   A.	geriatric mortgage
   B.	graduated mortgage
   C.	original loan
   D.	reverse mortgage

0.5 points

QUESTION 2

1. You have raised your deductible on your automobile insurance.You have

   A.	avoided risk
   B.	reduced risk
   C.	retained/assumed risk
   D.	transferred risk

0.5 points

QUESTION 3

1. If you hit a deer with your car, the damage to your car is covered under your

   A.	bodily injury liability
   B.	collision policy
   C.	comprehensive policy
   D.	property damage liability

0.5 points

QUESTION 4

1. Is flood insurance covered by your regular home owners insurance?

   A.	don't care to answer anything
   B.	yes
   C.	no
   D.	maybe

0.5 points

QUESTION 5

1. __________ is the health insurance program for people with low income.

   A.	Medigap
   B.	Medicaid
   C.	low income free insurance
   D.	Medicare

0.5 points

QUESTION 6

1. A disadvantage of whole life insurance is

   A.	lower yields than comparable investments
   B.	must be renewed every year
   C.	it provides coverage for specific time in your life
   D.	premium increases over time

0.5 points

QUESTION 7

1. In regards to health insurance, _________ is the portion of expenses beyond deductible the insured pays.It is usually split between the insured and the insurance company, ex 80/20.

   A.	insurance premium
   B.	coinsurance
   C.	lifetime maximum
   D.	annual stop loss

0.5 points

QUESTION 8

1. What would you pay to a bank to lower your interest rate on your mortgage loan?

   A.	down payment
   B.	interest origination fee
   C.	points
   D.	insurance for your house

0.5 points

QUESTION 9

1. __________ is the health insurance to retired individuals.

   A.	Medicare
   B.	old person free insurance
   C.	Medigarnder
   D.	Medicaid

0.5 points

QUESTION 10

1. When talking to you insurance agent, he or she mentions a homeowners insurance that is used to cover a your condominium. What type of insurance policy are they referring to?

   A.	HO-6
   B.	HO-8
   C.	HO-2
   D.	HO-3