Finance 4510 Exam Two
Directions: Pick 10 questions and do a very good job of answering the questions. Essay Questions, not short answer. Reference each question, where you found your answers. Run a spell and grammar check. Discuss the uses of Life Insurance and explain how you would determine how much life insurance a family would need.
Discuss the use of Disability Income Insurance and explain how you would determine how much disability insurance an individual would need.
Name a category of individuals who might benefit from Disability Income Insurance. Explain why this category might need Disability Insurance.
Discuss the use of Property and Causality Insurance and how this is used by a family or individual.
Property and casualty insurance is insurance that protects against property losses to one’s business, home or car and against legal liability that may result from injury or damage to the property of others. This type of insurance can protect a person or a business with an interest in the insured physical property against losses. Auto Insurance policies typically cover you and your spouse, relatives who live in your home and other licensed drivers to whom you give permission to drive your car. The policy provides coverage for both bodily injury and property damage liability as well as physical damage to your vehicle. Auto insurance typically covers personal injury, medical payments, uninsured motorist, underinsured motorist, auto rental, emergency road assistance and other damages to your car not caused by a collision such as flood, fire and vandalism. The other insurance is homeowners’ insurance which is bought to protect the biggest assets one has. Homeowners insurance typically covers the actual house, personal property and contents within that house, and some forms of personal liability. The policy may cover direct and significant loss