Ch. 9
Ex: Auto, home owner's, umbrella, health, term life, ID theft, long-term care, long-term disability
What are three types of insurance?
April 15
What is Tax Day?
This type of loan is taken out from the bank to purchase a house.
What is a mortgage?
This is the 5th foundation.
What is build wealth and give?
This is when the value of a country's goods and services go up.
What is economic growth?
The amount of liability protection offered to an individual through an insurance policy.
What is coverage?
This is another name for net income.
What is take-home pay?
This is an agreement with a property owner to pay a fixed amount of money monthly for a property.
What is renting?
This term refers to how easily an investment can be bought and sold.
What is liquidity?
This is a resource that is sold to another company.
What is an export?
The amount of money paid for an insurance policy.
What is premium?
There are two types of taxes. _______ income tax and state income tax.
What is federal?
If you are ____, you cannot afford to pay the house payment/rent and other bills.
What is house poor?
This term refers to a market that is experiencing a prolonged decline.
What is a bear market?
Companies need this in order to stay in business.
What is profit?
The contract between an insurance company and an insured individual.
What is policy?
This occurs when the IRS reviews tax documents to consider if they are correctly reported.
What is an audit?
This includes the average cost of housing, food, clothing, etc.
What is cost of living?
This is a tax-advantaged retirement arrangement. You pay tax on the money you invest prior to investing.
What is a Roth IRA?
The knowledge, skills and talents of people are called: ____ ______.
What is human capital?
An arrangement in which an individual will receive financial protection or reimbursement of losses from an insurer.
What is insurance?
The percent of your check that goes to FICA taxes...
What is 7.5%?
This is the maximum percentage of rent you should take out of your take-home pay.
What is 25%?
This is an investment sold by insurance companies with high fees and charges.
What is an annuity?
North Korea is an example of this kind of economy.