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Adv Finance B Unit 3 Capstone

Copy and Paste your answers to the questions on slide 4 (or link)

Part II: Reflection Questions

Bummer! has 4 rounds - pet, rental, auto, and then all 3 combined.
How many rounds did you make it through before running out of money? Or, did you win the game?

I made it through the first three rounds

What factors did you consider before deciding on a plan? How did you decide which plan was the best value?
I picked what i thought would be best


If you played again, what would you do differently? Why?

Get more add ons so my car and house would be more insured in the long run


Generally speaking, what was the relationship between the premiums, deductibles, and coverage limits for your insurance coverage?






After buying your basic coverage, the game offered you extra coverage referred to as Add Ons. In real life they’re called riders or endorsements. What strategies did you use to determine if a rider was worth the additional premium cost per month?
The ones that sounded the most reasonable and most likely to happen




In the game, you’re forced to buy at least minimal coverage for each of three insurance types -- pet, rental, and auto.
In real life, if your monthly budget was tight, what insurance type(s) would you cut? Why? Pet insurance i’d just try my best to keep my animal safe




What would be the risk of reducing or eliminating coverage?
If they get hurt or hurt another animal how much it would cost




The purpose of insurance is to provide you with financial protection against a possible risk. In Bummer!, risk is generated by the Wheel of Bummers. Describe how you felt each time you spun the Wheel of Bummers, both when you had plenty of money and when you were short on cash.
I normally had enough cash to not be too worried in the first 2 rounds i got more worried as time went on




Agree or disagree, then explain your answer: In real life, the best strategy is to pay the highest premiums and buy as many Add Ons as you can afford so you’re protected against many financial risks.

1 answer

Part II: Reflection Questions

  1. How many rounds did you make it through before running out of money? Or, did you win the game?

    • I made it through the first three rounds.

  2. What factors did you consider before deciding on a plan? How did you decide which plan was the best value?

    • I picked what I thought would be best.

  3. If you played again, what would you do differently? Why?

    • I would get more add-ons so my car and house would be more insured in the long run.

  4. Generally speaking, what was the relationship between the premiums, deductibles, and coverage limits for your insurance coverage?

    • The higher the premiums, the more comprehensive the coverage limits, while deductibles were the out-of-pocket costs before the insurance would pay.

  5. After buying your basic coverage, the game offered you extra coverage referred to as Add Ons. In real life they’re called riders or endorsements. What strategies did you use to determine if a rider was worth the additional premium cost per month?

    • I evaluated the ones that sounded the most reasonable and most likely to happen.

  6. In the game, you’re forced to buy at least minimal coverage for each of three insurance types -- pet, rental, and auto. In real life, if your monthly budget was tight, what insurance type(s) would you cut? Why?

    • I would cut pet insurance as I’d just try my best to keep my animal safe.

  7. What would be the risk of reducing or eliminating coverage?

    • If they get hurt or hurt another animal, I wouldn’t be able to cover the cost.

  8. The purpose of insurance is to provide you with financial protection against a possible risk. In Bummer!, risk is generated by the Wheel of Bummers. Describe how you felt each time you spun the Wheel of Bummers, both when you had plenty of money and when you were short on cash.

    • I normally had enough cash to not be too worried in the first two rounds; I got more worried as time went on.

  9. Agree or disagree, then explain your answer: In real life, the best strategy is to pay the highest premiums and buy as many Add Ons as you can afford so you’re protected against many financial risks.

    • (Your response would go here, such as: "I partially agree because while having high coverage is beneficial, it’s also important to evaluate what risks are most likely and to find a balance between cost and protection.")