Question

True or false finance questions.

a) If you pay interest to borrow money from a family member to make the down payment on a home, you can only deduct that interest from your taxes if the down payment loan is secured by a lien on the property. True or false?

b)It is in your best interest to sign an insurance release as soon as possible after a bodily injury loss has occurred. True or false?

c)Personal injury protection pays the driver and passengers in the covered automobile without regard to fault. True or false?

d)The insurance agent generally assesses whether a loss is covered and sets the dollar amount the company will pay. True or false?

e)Property owned for business purposes is covered under your homeowner's policy. True or false?

f)Auto insurance agents need to be informed when a student keeps a car at college. True or false?

g)Employers are more likely to offer short-term rather than long-term disability income insurance as a free employee benefit. True or false?

h) Traditional health insurance plans are often referred to as basic indemnity plans. True or false?

i) The needs-based approach is not as accurate as the multiple-of-earnings approach. True or false?

j) The basic information about who is covered, the time period of coverage and the policy limits are contained in the insuring agreements section of a life insurance policy. True or false?

k) Younger families should be wary of using retirement money for living expenses after the death of an income provider. True or false?

Answer 1

a)False, It has to be a bank loan.

b)False, Insurance release after settlement

c)True, It pays out claims despite anyone is at fault in the accident.

d)True, insurance agent generally assesses whether a loss is covered and sets the dollar amount the company will pay

e)False, Mostly personal property is covered under homeowner's policy

f)False, Auto insurance agents needn’t to be informed

g)False, Depends on the business

H)True, As it generally pays for only part of your health care costs

i) True, Need-based assess the individuals insurance requirement, however multiple of earning is a proper valuation technique from financials.

j)True, basic information about who is covered, the time period of coverage and the policy limits are contained in the insuring agreements

K) False, Younger families can use it the way they want.