Choose wisely. There is only one correct answer to each question.
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1.
Which of the following is likely to be covered by a homeowners insurance policy?
Fire damage. The others are "acts of God" and are therefore unlikely to be covered.
2.
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.
3.
In what areas of the country is earthquake insurance likely to be the most expensive?
Near the coasts where earthquakes tend to occur the most frequently. The areas of the country that are most likely to have expensive earthquake insurance are near the coasts where earthquakes tend to occur the most frequently.
4.
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.
5.
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."