Southern New Hampshire University
FIN250 - Personal Financial Planning
EXAM 4 questions and answers
1
Ria uses her problem solving skills and decides to pay for the repairs around the house out of her own
pocket instead of filing for an insurance claim.
Which of the following statements is most likely the reason behind Ria's decision to pay for repairs herself?
By paying for the repairs, the amount of coverage Ria receives
will increase under the policy.
By paying for the repairs, Ria's credit score will improve, which
in turn will decrease her insurance premium.
Claiming insurance for repairs will increase the amount
of deductible that Ria owes toward the policy.
Claiming insurance for repairs will increase her insurance
premium, which Ria cannot afford to pay.
RATIONALE
Strong problem solving skills can help you determine if making a claim is a wise decision. You can contact your
insurance carrier to help you understand if it might be a better financial choice to pay out-of-pocket. Your
