The worst mistake when it comes to buying insurance is:

A. Not buying enough.

B. Buying too much.

C. Not shopping around.

D. All of the above.

Young people often skimp on health insurance before they get employer coverage or can afford it on their own. What's the best thing for recent college grads to do instead of going 'bare'?

A. That's a trick question because health insurance isn't needed if you're young and healthy.

B. Go directly into graduate school.

C. Buy insurance coverage that will cover them in case of emergencies only.

D. Buy the most inexpensive coverage possible, no matter what it is.

Which of these statements about HMOs is not correct?

A. Specialists can usually not be seen unless the patient is referred by the primary care physician.

B. HMOs are known as the most expensive form of health insurance.

C. The appeal of HMOs is that co-pays are very low.

True or false: The possessions of renters are covered by the owner's insurance.

The insurance is factored into the cost of rent.

False. Insurance on a rental carried by the owner covers only the building. Renters are responsible for insuring their possessions and protecting themselves from liability.

I have diabetes and want to leave my job of five years where I've had wonderful health insurance. I'm afraid I'll never get another insurance plan to cover my condition. Will my new employer's insurance cover me?

A. Yes, thanks to HIPAA.

B. Yes, but you may have to wait up to a year for the pre-existing condition to be covered.

C. No, you probably won't be able to get coverage so it's best to stick with your current employer.

True or false: The liability coverage on your auto insurance policy is enough to protect you if you kill someone in an accident or cause massive property damage.

False. Anyone with any assets should strongly consider getting an umbrella policy that will offer more protection.

True. Insurance companies calculate their offerings based on actuarial models which statistically average how much insurance the average people should need.

As a young person you are more likely to:

A. Become disabled rather than die.

B. Win the lottery than an older person.

Which of these could be excluded from homeowners coverage?

A. Trampoline accidents

B. Dog bites

C. Mold

D. War or radioactive contamination

E. All of the above

What is term life insurance?

A. Life insurance for pregnant women -- before their pregnancy comes to term.

B. Insurance for dictionaries.

C. An insurance policy covering the life of the policyholder for a specified amount of time.

D. An insurance policy covering the life of the policyholder for as long as the premiums are paid.

Which of these types of insurance could a consumer probably get rid of?

A. Life insurance

B. Disability insurance

C. Health insurance

D. ID theft insurance

E. Auto insurance

F. Homeowners insurance

G. None of the above!