Insurance
A contract between a policyholder and an insurance company outlining what risks they will cover.
What is an insurance policy
The tax on earned and unearned income
What is income tax
The 2 most common accounts people have at a bank
What are checking and savings
A piece of ownership of a company
What is a stock
An expense that doesn't change from month to month
What is a fixed expense
It covers you when you can't work for a short amount of time.
What is disability insurance
What is property tax ?
A larger savings account with a minimum balance and limited transactions per month
What is a money market account
A loan to a government entity or a company
What is a bond
An expense that changes each month
What is a variable expense
Which of the following is not required by law
(Life, Auto, Health )
What is life insurance
The tax on items that you purchase
What is sales tax
The charge for loaning or borrowing money
What is interest
The amount you earn before taxes and deductions
What is your gross pay
The percentage you are required to pay after your deductible
What is co-insurance
The 2 main components of FICA taxes ( payroll )
What are Social Security and Medicare
What are the 2 most commons types of credit you get from a bank
What is loans and credit cards
A shareholders piece of the company profits
what is a dividend
How much you take home after taxes and deductions
What is your net pay
The person who is left money from a life insurance policy
What is a beneficiary
An extra tax on specific items, like gasoline.
What is excise tax
The amount each account is insured for by the FDIC
What is 250K
A formula to estimate how long it will take for your money to double
What is the Rule of 72
Income minus expenses
What is a profit or loss