Regarding auto insurance, it is possible to have a different deductible for collision loss than for comprehensive physical damages. True O False The greater your financial assets, less automobile liability insurance coverage is needed because you can afford the financial loss, i.e., "self-insure." True False
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- Which of the following wouldn’t save you money on your auto insurance premium? *a. Decrease your deductibleb. Reduce or eliminate optional insurance on an older vehiclec. Bundle your insurance with other policiesd. Maintain a good credit historyWhat actions can a person take to reduce the cost of automobile insurance?Explain the differences between actual cash value (ACV) and replacement cost for homeowner’s insurance?
- 1. Investments: A. Are the same as savings B. Should be a priority when receiving a paycheck C. Both Are the same as savings and Should be a priority when receiving a paycheck D. None of these 2. An example of a personal asset is a: A. Job B. Paycheck C. Car D. All of these E. None of theseWhen an individual makes a purchase without considering the financial consequences of that purchase, he/she ignores the _____________ aspect of financial planning. borrowing risk management spending retirement and estate planning obtaining All of these choices are correct. Explain answer and cite sources for answer.Give typing answer with explanation and conclusion Property insurance protects you from financial losses resulting from the damage to or destruction of your property or possessions. True False
- What may a person lose in addition to the good if he fails to keep up the payment on a personal loan?why disability have more negative financial consequences than death?When estimating the loss reserves in car insurance, the ________________ is used to assign a loss value to each claim. This is because the individual loss amounts are insignificant while the number of claims is large. a. Judgment method b. Loss ratio method c. Average value method d. Tabular method
- H5. explain what the benefits of escrow for both the borrower and the lender may be? Do disadvantages exist for either party? If you were looking to purchase an investment property would you be interested in an escrow account? Explain.Why do you believe auto insurance companies provide premium relief?Which of the following is not one of the factors that affects automobile insurance premiums? O How much you drive O Number of ciaims O vehicle use O Employment status