How much do you really know about insurance and the financial decisions that affect your future?
This is a private, self-scoring educational exercise—not a sales pitch. The purpose is to help you see what you understand, identify what you may want to learn, and make better-informed financial decisions.
There are two parts. The first tests general insurance knowledge. The second asks how well you understand the insurance and financial arrangements you actually own. You can take both, see the answers, and receive your scores without giving your name or email address.
Some questions have a simple answer for scoring purposes, but a more complicated answer in real life. That is why I also offer my detailed explanations separately.
Part One: Ten Questions About Insurance
Choose the answer you believe is right. If you are unsure, say so. Your score is for you alone.
Your Part One results
A low score is not a judgment of your intelligence or financial ability. It simply shows where learning more could help.
Your answers & answer key
You can review each question, your response, and the answer below. No email required.
Want to learn more?
I have written books to help people understand financial choices, ask better questions, and avoid costly mistakes.
Request detailed explanations
The answer key is only the beginning. Several answers are more nuanced than a yes-or-no test can capture. I explain the exceptions, the tradeoffs, and what the answer might mean when you are making your own decisions.
Enter your email to access my detailed commentary on all ten answers. The explanations will display on this page as soon as you submit your email.
The answer key is not the whole answer.
Several of the “correct” answers above are incomplete, and one or two are arguably wrong depending on the policy in question. I’ve written a short explanation of each — what the answer actually depends on, and where the standard answer will get you into trouble.
My explanation
Part Two: How Well Do You Know What You Own?
The first ten questions were about insurance in general. These ten are about your own coverage and financial arrangements. A person can understand insurance concepts and still be unsure what their own contracts actually do.
Answer from memory, without hunting for the paperwork. For each question select “Yes, I know,” “No / Not sure,” or “Not applicable.” Count only applicable questions. There is no email requirement.
Your Part Two results
This is a measure of your familiarity with your coverage, not a professional assessment of whether it is suitable.