CPF Study Test Questions and Answers All Correct
Barnaby is applying for insurance for his new home. Which of the following is correct? - Answer- His coverage should be increased as construction costs rise.
Zach is applying for insurance for his new home. Which of the following is correct?...
CPF Study Test Questions
and Answers All Correct
Barnaby is applying for insurance for his new home. Which of the following is correct? -
Answer- His coverage should be increased as construction costs rise.
Zach is applying for insurance for his new home. Which of the following is correct? -
Answer- He should insure the building under the replacement value method to receive
the full cost of repairing or replacing it.
Yogi is applying for insurance for his new home. Which of the following is correct? -
Answer- He should base the amount of insurance on the price to rebuild or repair the
new home.
Which of the following is NOT correct about renter's insurance? - Answer- Renter's
insurance covers the building and other structures on the site.
The two basic types of risk that people face regarding potential property losses are -
Answer- Physical damage and damage caused by criminal behavior.
If you choose to wear your seatbelt, you are using - Answer- Risk reduction.
An insurance company is a _________ business that agrees to pay for losses that may
happen to someone it insures. - Answer- risk-sharing.
What is the fee that a policyholder pays when an insurance company agrees to take on
the risk? - Answer- Premium
An endorsement is a request for payment to cover financial losses. - Answer- false
Computers and other equipment used in a home-based business are not usually
covered by a home insurance policy. - Answer- true
An assigned risk pool includes people who are able to obtain auto insurance due to a
great driving record. - Answer- false
Towing and emergency road service coverage includes coverage for a tow to a service
station as well as repairs to make the vehicle drivable. - Answer- false
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