Insurance
The amount of money you pay every month for your insurance coverage
What is a premium?
Investment that allows you to own a share/piece of a company
What is a stock?
Tax form has information on how much you earned and how much you paid in taxes for the previous calendar year
What is a W-2?
The maximum amount your insurance company will pay for a particular loss
What is coverage limit?
Risk you are taking when you invest in the stock market and one other investment that exists to minimize risk.
Answers will vary.
An out-of-pocket fee paid by a person with health insurance at the time of service
What is a copay?
A loan to a company/government in exchange for face value plus interest
What is a bond?
Tax form that determines how much money is withheld from your paycheck for federal and state income taxes
What is W-4?
A contract between you and your insurance company
What is a policy?
When you complete your 1040 form, if you overpaid your taxes and the government owes you money, that is called a __________.
What is a refund?
A demand by a person seeking recovery from a loss
What is a claim?
Portion of yearly earning that companies share
What is a dividend?
Tax form used to prove that you are eligible to work in the U.S.
What is a I-9?
Allows investors to invest your money in bonds, stocks and other investments
What is a mutual fund?
Your health insurance plan has a $35 copay for certain covered prescription medications. You arrive at the pharmacist and pick up your prescription (which is covered under your plan) which has a list price of $75. How much would you pay the pharmacy?
What is $35?
You cause an accident in which someone is injured. The case goes to trial and there is a verdict to compensate the injured person with $45,000. You have a $50,000 coverage limit per person for Bodily Injury and a deductible of $2,000. How much will you have to pay out-of-pocket?
What is $2,000?
The difference between simple interest and compounding interest
What is simple interest you earn interest off principal alone and compounding interest you earn interest off principal + interest?
Two taxes that are taken from your gross wage and provide examples of what they are used for
Tax form you will receive me even if you are not an employee but were paid by a company
What is a 1099?
Joshua causes an auto accident on a residential street. He has collision coverage. He causes $7000 in damage to someone else’s car, $2000 in damage to his own car, has a $500 deductible, and has a maximum coverage limit of $10,000. How much will Joshua have to pay towards the accident?
What is $500?
If there was a flood that caused damage to your car, what kind of coverage must you have in order for the insurance company to help cover the cost of repairs?
What is comprehensive coverage?
You bought 10 shares of stock in Snapchat for $52 per share. Two months later you sold the 10 shares of stock for $80 per share. What was your profit or loss on Snapchat stock?
What is a profit of $280?
Tax form where you can report your income and deductions to determine the amount of tax you owe or the refund you can expect to receive
What is a 1040?
The amount you must pay yourself before the insurance company provides coverage
What is a deductible?
Kaylea causes an auto accident on a residential street. She has liability coverage only. She causes $10,000 in damage to someone else’s car, $2000 in damage to her own car, has a $1,000 deductible, and has a maximum coverage limit of $10,000. How much will insurance pay toward fixing Kaylea's car?
What is $0?