Bonds and Stocks
A loan given by you to another entity
Bond
Pay taxes when you retire
401k
What does insurance do
Transfer risk from you to someone else
True or False
You are required to purchase home owner's insurance when you rent a home.
false
Name 3 things that effect your auto insurance coverage
Age of driver
Gender of driver
Number of drivers on policy
Accident / Incident history
Where auto is parked
Annual mileage
Number of traffic violations
Prior insurance record
Years of driving experience
Why do companies issue stocks
to raise money
Companies often price match this
401k
What you pay before your insurance kicks in
Deductible
Does your homeowner's Insurance cover Liability?
yes
What should always be done after an auto accident before you and the other person part ways?
File a police report
A sum of money paid by a company to its' shareholders
Dividends
You can only put in a certain amount each month
Roth IRA
Insurance pays 75% AND I pay 25%
Co pay
Why does your homeowner's insurance go up if you purchase a trampoline?
Higher liability
What is the main factor in determining your cost of life insurance?
Age
Lowest rating a bond can have
D
What do most people invest for
Money when they retire
The monthly amount you pay to insurance
Your premium
Is mold and/or rodent damage covered by homeowner's insurance?
No
Does Auto insurance cover a crack in your windshield?
Yes
Highest rating a bond can have
AAA
Investing is not.....
Gambling
What are the three ways we handle risk?
Avoid, Retention (Save up), Transfer
Name 5 or more factors that determine your cost of homeowner's insurance.
Personal property (including furniture, electronics, high value items, etc.)
Special safety features (security, alarms, sprinklers)
Credit rating of policyholder
Prior insurance history (claims filed, etc.)
Construction type (brick, frame, etc.)
Roof type (shingle, tile, metal, flat, etc)
Type of home (single family, town home, high-rise)
Square footage
Number of rooms
Floor level (if in high-rise)
Address (city, state, county)
Pets
Pool
Proximity to fire station and fire hydrant
Business being conducted on premises?
Name 3 personal habits that effect life Insurance?
Drinking
Smoking
Drugs