Insurance
_________ provides financial protection by covering the cost of unexpected events or losses.
What is insurance?
Most basic option of saving money
What is cash?
A contract made between a merchant seller and a consumer.
What is a consumer contract?
The money you have to spend or save that you make from working.
What is income?
What year did Titanic release?
What is 1997?
Risk is the exposure to a loss: True or False
What is true
Most basic type of account a bank offers
What is a savings account?
The act of breaking the terms set out in a contract
What is a breach
Two examples of anticipated income
What is:
salary
allowance
wage
educational grants/scholarships
How many steps in the water cycle?
What is four main steps?
Carefully worded and highly detailed legal contracts that outline the terms of the insurance coverage.
What is a policy
Similar to a savings account except that it is easier to withdraw money in the form of a check or an ATM transaction.
What is a checking account?
The text in a formal agreement that is printed smaller than the rest of the text
Two examples of unanticipated income
What is
Gifts
Bonuses
Inheritances
How many feet in a mile?
_______ is the amount of protection against risk or liability that the insurer provides.
What is coverage?
Refers to how easily an asset can be turned into cash.
What is liquidity?
The people or companies involved in a legal agreement are referred to as:
What are parties
First step of setting up a monthly budget
What is calculating your income?
How far is the moon from Earth?
What is 238,900 miles?
Insurance on a home or apartment
What is property insurance?
Accounts that earn an interest rate proportional to the length of time your money is held.
What is a certificate of deposit (CD)?
Three basic steps involved in making a contract:
A customer makes an offer: "I'd like to buy this product."
A seller accepts the offer: "That'll be $9.00."
The buyer and seller exchange something of value (the product and the money), called "consideration."
The overall value of your financial assets after subtracting your debts (liabilities).
What is Net worth?
What is the biggest planet in the solar system?
What is Jupiter?