Taxes
Health/Life/Disability Insurance
AutoInsurance
Homeowners/Renters Insurance
Random
100
The ________ is the government body that enforces federal tax laws and collects the taxes.
Internal Revenue Service
100
What is life insurance?
If you were to pass away, your beneficiary would recieve money.
100
What type if insurance is required? *Hint: nationally, not only in Kansas
Liability
100
What is a peril?
an event which may cause a financial loss like fire, falling trees, lightning and others
100
What is net pay?
Take home pay- after taxes
200
Federal income taxes, state income taxes, and Social Security withholdings are all what?
payroll taxes
200
What is disability insurance?
If you get hurt, you will have supplemental pay.
200
What does medical payment insurance cover?
covers injuries sustained by the driver of the insured vehicle or any passenger regardless of fault
200
What types of insurance does homeowners combine?:
property and liability
200
What is gross pay?
Pay before taxes are taken out
300
Public programs such as national defense, public schools, Social Security, and fire and police protection are all paid for through what
tax revenue
300
Name two items that health insurance can help provide you with
Various answers
300
What does liability insurance cover?
covers the insured if injuries or damages are caused to other people or their property
300
What is renters insurance?
protects the insured from loss of the contents of the dwelling rather than the dwelling itself
300
What are three items found on a paystub?
Answers may vary
400
The deadline for filing your taxes every year is what day?
April 15
400
When should a person purchase life insurance?
When they have a dependent
400
If you were to get in a wreck with a person that was uninsured or underinsured, what type of insurance would help protect you?
Uninsured/Underinsured Auto insurance
400
Is homeowners insurance a law to have?
No, but some lenders may require it.
400
What is the social security tax rate?
6.2%
500
You would use a 1040 or a 1040EZ to ________.
file a tax return
500
What is the percentage of a full time wage that disability insurance will typically provide?
60-70%
500
Name the different types of auto insurance
Liability insurance, Medical payment insurance, Uninsured or underinsured motorists insurance, Physical damage insurance(comprehensive and collision)
500
How much coverage should you have for renters insurance?
For as much as your things are worth
500
What is the medicare tax rate?
4.25%
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