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

A: points

B: down payment

C: interest origination fee

D: insurance for your house

Question 2: A disadvantage of whole life insurance is

A: lower yields than comparable investments

B: it provides coverage for specific time in your life

C: premium increases over time

D: must be renewed every year

Question 3: 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: graduated mortgage

B: geriatric mortgage

C: reverse mortgage

D: original loan

Question 4: If you hit a deer with your car, the damage to your car is covered under your

A: collision policy

B: comprehensive policy

C: bodily injury liability

D: property damage liability

Question 5: 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-2

B: HO-3

C: HO-6

D: HO-8