Question
QUESTION 1 If you purchased automobile liablilty coverage of 75/200/30, describe what each number means. a. $75,000 liability coverage for property damage $200,000 liability coverage
QUESTION 1
If you purchased automobile liablilty coverage of 75/200/30, describe what each number means.
| a. | $75,000 liability coverage for property damage $200,000 liability coverage per accident for bodily injury $30,000 liability coverage per person for bodily injury | |
| b. | $75,000 liability coverage per person for bodily injury $200,000 liability coverage per accident for bodily injury $30,000 liability coverage for property damage | |
| c. | $750 liability coverage for property damage $2,000 liability coverage per accident for bodily injury $300 liability coverage per person for bodily injury | |
| d. | $750 liability coverage per person for bodily injury $2,000 liability coverage per accident for bodily injury $300 liability coverage for property damage |
1 points
QUESTION 2
Assume you own a 1996 Chevrolet Impala which has a book value of $800. The total annual premium for your auto insurance policy is $789. The annual cost for collision coverage is $284 with a $500 deductible. Liability coverage of 100/300/50 costs you $325 per year. what is the annual cost per $1,000 of coverage for collision insurance? What is the annual cost per $1,000 of coverage for liability insurance?
| a. | $568 is the collision cost per $1,000 $0.93 is the liability cost per $1,000 | |
| b. | $284 is the collision cost per $1,000 $325 is the liability cost per $1,000 | |
| c. | $946.67 is the collision cost per $1,000 $0.93 is the liability cost per $1,000 | |
| d. | $3 is the collision cost per $1,000 $1 is the liability cost per $1,000 |
2 points
QUESTION 3
Assume you have an accident in which your 1996 Impala is totally destroyed, but you are not hurt. ACME Insurance Co. (your insurance company) wrties you a check for the car. What is the dollar amount of the check?
| a. | $800 | |
| b. | $300 | |
| c. | $500 | |
| d. | $1,000 |
1 points
QUESTION 4
Assume you have a home which would cost $120,000 to replace. You currently have the home insured for $85,000. Last night a tornado damaged your home, causing an estimated $25,000 in damage. How much will your insurance company pay for repairing the damage to your home?
| a. | $22,135 | |
| b. | $85,000 | |
| c. | $68,000 | |
| d. | $25,000 |
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Innovation In Public Transport Finance
Authors: Shishir Mathur
1st Edition
1138250139, 978-1138250130
