insurance
What are the main purposes of insurance?
to provide protection against specific types of financial losses
What bank card affects your credit?
Credit card
A personal budget is a financial plan used by individuals to project anticipated earnings and shows how they will be allocated
What is the minimum wage in Massachusetts?
$15.00 per hour
How old is Mr. Cherry?
27
What types of risk are there?
Personal risks, Property risks, and Liability risks
What is a disadvantage of a debit card?
The money is immediately withdrawn; there is no grace period; overdraw
What is a financial plan purpose?
It is a financial plan for controlling spending and building wealth for your future
How much more to get paid during overtime?
1 1/2
What is the hardest natural substance on Earth?
Diamond
What medical insurance helps the old?
medicare
What is the purpose of a checking account?
A bank account that allows the owner to make deposits, write checks, and withdraw money
What is an example of a fixed income?
An example of “fixed” is your salary, because it is the same every month
What are the 4 periodic equal payment types for salary? (How often can you get paid?)
Weekly, Monthly, Bi-Weekly, Bi-Monthly
What city is known as "The Eternal City"?
Rome
What type of person has the highest car insurance?
Teen boys
What is the difference between a bank and a credit union?
Banks are for-profit institutions owned by shareholders, while credit unions are not-for-profit cooperatives owned by their members.
What is considered a good amount of money to save each month?
Any amout
What are commissions, and who gets them?
Income paid as a percentage of sales made by a salesperson
What is the only continent that has land in all four hemispheres?
Africa
What brings your car insurance price down?
have a safe driving record, get good grades, have installed anti-theft devices, are over a certain age, have two or more cars on a policy, have a good credit score
How do you write a check? (6 steps)
1.Date the Check 2.Pay to the Order Of 3.Numerical Amount Box 4.Written Amount Line 5.Memo Line 6.Sign the Check
How do you make a financial plan?
1. Set a budget period 2.Set goal amount 3.List estimated income. 4.List estimated expenses. 5.Track spending. 6.Compare budgeted amount with actual amounts.
What is the difference between gross pay and net pay?
Gross pay is the total amount an employee earns before any deductions, while net pay is the "take-home" amount remaining after taxes, benefits, and other deductions are subtracted.
What mountain range separates Europe and Asia?
The Ural Mountains