insurances
what is an insurance policy?
a contract between the insurance company and the insured. it states the terms of the policy including what risks are covered and how much will be paid for any losses.
Which household gets hit more when it comes to paying regressive taxes? low income, middle class or upper class
low income households
what institution is referred to as a "thrift"?
Savings bank
what is one advantage of having credit
can buy items now, dont need to carry cash, creates a record of purchases, more convenient than writing checks, consolidates bills into one payment
Why is communication an important workplace skill to have?
It is imporant to have communication in the workplace so information can spread correct and so you or your coworkers dont have any mishaps.
what type of insurances lie under the title of property and liability insurance.
automobile insurance, homeowners insurance, renters insurance
A tax on items being purchased.
what is a regressive tax
what are the types of banks
commercial banks, savings banks or credit unions
What are some ways you can build your credit report?
Pay all bills on time, open a checking account and dont bounce checks, open a savings account and make regular deposits, apply forlocal store credit and make monthly payments, get a co signer on a loan and
why are business leaders worried about today's graduates?
because they may lack the soft skills that are needed in the work world.
what are some government programs that will cover risks individuals or families might face?
medicaid, medicare, social security etc
flat tax system in which taxpayers pay a set percentage, regardless of their income.
what is Proportional taxes?
credit unions were first chartered in what year at state level?
1909
What are the 3 C's of credit?
character, capital and capacity
what is it called when you can be trusted to complete any task and in a timely manner? you do what you say when you say you will
dependability
Name 4 of the many different types of insurance
health, disability, long term care, property, liability, life,
Utah, Washington and Indiana and many others are states that impose what?
flat income tax rates
which banks obligation is to make a profit for its shareholders?
commercial
What act serves to protect the privacy and accuracy of information in a credit check?
fair Credit reporting Act of 1970
Out of 100% how much is soft skills and how much percent is hard skills?
soft skills are 85% and hard skills are 15%
is an in- kind contribution subject to income taxes?
no they are not
True or False? Marginal rates are often Lower than the average tax rates paid
false. They are often higher
The number of thrifts declined dramatically in what year?
late 1980's early 1990
What are the letter codes and what do they stand for in the " manner of payment codes"
O- Open
R- Revolving
I- installment
what skills do people tend to neglect how important they are in the workforce?
communication, conflict resolution, and time management