Title: QUIZ: Understanding Car Insurance (1/3) Premiums and How Coverage Works -- No Frills Money Skills Video Series
Course: Andria Testing FRE2 > Section: Understanding Car Insurance (1/3) Premiums and How Coverage Works -- No Frills Money Skills Video Series

Q: What does the term liable mean?
- Highly likely
- Legally responsible
- Highly probable
- Legally protected
A: Legally responsible

Q: Which of the following explanations of a 100/300/100 auto liability policy is correct?
- The first 100 indicates a $100,000 per person limit for bodily injury (BI). The 300 indicates a $300 deductible for collision coverage per accident, and the second 100 indicates a $100,000 limit in property damage (PD) coverage.
- The first 100 indicates a $100 deductible for comprehensive coverage. The 300 indicates a $300 deductible for collision coverage per accident, and the second 100 indicates a $100,000 limit in property damage (PD) coverage.
- The first 100 indicates a $100,000 per person limit for bodily injury (BI). The 300 indicates a $300,000 limit for bodily injury per accident, and the second 100 indicates a $100,000 limit in property damage (PD) coverage. 
- The first 100 indicates a $100 deductible for comprehensive coverage. The 300 indicates a $300,000 limit for bodily injury per accident, and the second 100 indicates a $100,000 limit in property damage (PD) coverage.
A: The first 100 indicates a $100,000 per person limit for bodily injury (BI). The 300 indicates a $300,000 limit for bodily injury per accident, and the second 100 indicates a $100,000 limit in property damage (PD) coverage. 

Q: Suppose a person was at fault in an auto accident causing $75,000 in property damage. With a policy including liability limits of 100/300/50, how much would the insurance company pay for the $75,000 claim?
- $300,000
- $100,000
- $75,000
- $50,000
A: $50,000

Q: True or False: If the damage caused in an at-fault accident exceeded the policy limits, the remaining balance would be owed by the policy holder of the at-fault vehicle.
- True
- False
A: True