FIN 580 FIN580 WEEK 5 QUIZ ANSWERS (2018)

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Keller FIN 580 Week 5 Quiz Answers

1. (TCO D) Joe died at age 45, leaving a wife (age 36) and two sons (ages 10 and 12). His wife, Maria, is not gainfully employed. Which of the following is true regarding their Social Security benefits assuming Joe was covered by Social Security?

2. (TCO D) OASDHI, sometimes called Social Security, actually refers to the following.

3. (TCO D) Given a $250 annual deductible, a $5,000 lid on the coinsurance, 80/20 coinsurance, and a $250,000 policy limit, how much of a $27,500 medical bill will be paid by the insured?

4. (TCO D) The 80% coinsurance clause in a homeowner's policy would cause a reduction in the claim payment for a covered loss to the dwelling of $30,000 in which of the following cases?

5. (TCO D) Jake drove Amanda's truck to the football bowl game because his car was broken. On the way home, Jake was involved in an accident that was his fault. The resulting liability damages totaled $85,000. Jake has $100,000 liability coverage on his car, and Amanda has $50,000 on her truck. How would the $85,000 liability damages be paid for this accident?

	Created by lamar mnnarthy about 6 years ago