Which statement about homeowners insurance is true?A.All insurance policies have the same deductibles.B.A higher deductible will result in lower monthly premiums.C.All insurance policies have the same monthly premiums.D.A higher deductible will result in higher monthly premiums.SUBMITarrow_backPREVIOUS

How can a high deductible affect your insurance premium?a) It increases the premium b) It decreases the premium c) It has no effect on the premium d) It guarantees full coverage without any payment

Which of the following statements about the ‘Property Insurance’, ‘Motor Vehicle Insurance’, ‘Health Insurance’ and ‘Travel Insurance’ sections of the lecture material are TRUE:In Australia, insuring any damage to another person’s vehicle is covered under the ‘Green Slip’ and is required whenever someone renews their registration each year.The cost of emergency transport by ambulance is covered under the Medicare system in Australia.Question 10AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)

Which of the following statements is true?Multiple ChoiceDistributions to owners are tax deductible.Bonds do not have to be repaid.Interest on bonds is not tax deductible.Interest on bonds is tax deductible.Bonds always increase return on equity.

What is a factor that does NOT affect the cost of homeowner’s insurance? aBrick structure bLocation cCertain dogs, trampolines, and swimming pools dNumber of people living in the home

Which of the following statements is NOT correct?A.The premiums for an insurance reflect the risk of the group in which the insured belongs and to some extent the personal circumstances of the individual, such as their record of past behaviour.B.A benefit is a payment made by the insurance company to the insured when an adverse event occurs.C.An excess is a part of the claim that the insured will need to pay out of pocket in the case of an adverse event.D.A premium is a regular payment made by the insured to the insurance company to be covered in case of an adverse event described in the insurance policy.E.A claim is a case where the insured will not be covered by the insurance policy if an adverse event occurs because the insured had misrepresented its actual circumstances.