Choose wisely. There is only one correct answer to each question.
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1.
Identity theft insurance will cover any amounts that are stolen from your bank accounts if your identity is stolen.
False. Identity theft insurance covers the money you spend to restore your identity, not amounts stolen during an identity theft incident.
2.
Which of the following does a gap insurance policy cover on a vehicle?
The difference between the loan balance and the cash value of the vehicle. That is the meaning of the "gap."
3.
Which type of insurance covers ones home, the real property, and the personal property in it, as well as adjacent structures like a garage or shed, and also provides liability insurance in case somebody is injured on the property?
Comprehensive homeowners insurance. This breadth of coverage is why it is called comprehensive.
4.
Which of the following is a good way to keep your auto insurance rate as low as possible?
All of the above. All the above are good ideas.
5.
A mortgage company may require you to buy separate _______ insurance in addition to your regular property insurance.
Flood. If you live in an area prone to floods, your mortgage company may require you to buy separate flood insurance in addition to your regular property insurance.