Insurance Sim Answers

Question:

Answer: $9,010

Question: Step 2 of 11

Click Reports>>Messages to bring up the message window. Click the Start button, and run the simulation forward until a message box appears.

What happened? How much did you lose?

Answer: You were robbed / All your purchased belongings

Question:

Answer: $3,357.72

Question:

Answer: The higher the deductible, the lower the premium.

Question: Step 5 of 11

Choose a Deductible of $500. Adjust the Amount of Coverage up and down.

How does this affect your yearly premium?

Answer: As the coverage increases, the premium goes up.

Question: Step 6 of 11

Select an Amount of Coverage of $4,000 to cover the cost of your recently purchased items. Select a Deductible of $250 and note your monthly premium amount.

Click Change Coverage to purchase the insurance policy.

What is your yearly premium?

Answer: $173

Question: Step 7 of 11

Now that your property is insured, run the simulation forward until you see a message box appear.

What happened?

Answer: You were robbed again

Question:

Answer: The $250 deductible was deducted from the payment

Question:

Answer: As the co-pay and deductible increase, the monthly premium decreases.

Question: Step 10 of 11

Select the Gold level plan and click Change Coverage to purchase health insurance.

Click the Start button run the simulation forward until a message box appears.

What happened on January 27th?

Answer: You suffered a torn ACL