Insurance and Financial Planning Quiz

What is the primary purpose of insurance in financial planning?

• To increase wealth rapidly

• To manage risk and provide protection

• To avoid paying taxes

• To eliminate all financial risks

Which type of insurance is specifically mentioned as providing protection for your home?

• Auto Insurance

• Homeowners Insurance

• Life Insurance

• Health Insurance

Which type of insurance is designed to provide protection against loss of income due to disability?

• Auto Insurance

• Life Insurance

• Disability Insurance

• Health Insurance

Which type of insurance is specifically mentioned as providing protection for your health?

• Auto Insurance

• Health Insurance

• Life Insurance

• Flood Insurance

Which type of insurance is designed to provide long-term care?

• Auto Insurance

• Long Term Care Insurance

• Life Insurance

• Renters Insurance

What is the significance of risk management in financial planning?

• It eliminates all risks

• It helps in wealth accumulation

• It protects against financial threats

• It reduces the need for savings

Which type of insurance is specifically mentioned as providing protection against floods?

• Auto Insurance

• Flood Insurance

• Life Insurance

• Health Insurance

The type of insurance that covers damage or loss to a vehicle from fire, theft, vandalism, or hail is called

• term life insurance
• bodily insurance
• comprehensive
• collision

A person's computer is stolen from their apartment, which insurance covers this?

• renter's insurance
• property liability
• collision
• comprehensiove

____ covers loss to your personal items but not the building.

• Renter's Insurance

• Dwelling Insurance

• Homeowner's Insurance

• Supplemental Insurance