Question 1. 1. The blackout period refers to the period of time immediately following the death of the breadwinner. (Points : 0.1)
[removed] True [removed] False
Question 2. 2. Long-term care insurance pays benefits when the insured is unable to perform at least three of the activ- ities of daily living (ADL). (Points : 0.1)
[removed] True [removed] False
Question 3. 3. Term life insurance is considered “pure insurance.” (Points : 0.1)
[removed] True [removed] False
Question 4. 4. Personal risk management is a systematic process of identifying, evaluating, and managing pure risk exposures faced by an individual. (Points : 0.1)
[removed] True [removed] False
Question 5. 5. Pure risk is the chance of a loss or no loss occurring, but with pure risk there is no chance of experienc- ing a gain. (Points : 0.1)
[removed] True [removed] False
Question 6. 6. With pure risk there is an equal chance of experiencing a gain or loss. (Points : 0.1)
[removed] True [removed] False
Question 7. 7. Loss severity is the expected number of losses that will occur within a given period of time while loss frequency refers to the potential size or financial damage of a loss. (Points : 0.1)
[removed] True [removed] False
Question 8. 8. As a general rule, everyone needs life insurance sufficient to replace future income, regardless of whether they have dependents. (Points : 0.1)
[removed] True [removed] False
Question 9. 9. A risk that is as big as or bigger than untimely death is early disability. (Points : 0.1)
[removed] True [removed] False
Question 10. 10. An example of moral hazard is not locking the doors of your home when you are out of town for two weeks because you have insurance, while an example of morale hazard is burning down your house to collect insurance. (Points : 0.1)
[removed] True [removed] False
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