Category 1
What does insurance aid?
It aids for the unexpected. For example if you get into a car accident insurance helps make coverage less expensive.
When should you start saving for retirement?
ASAP!
What is a credit card
a line of credit that can be used to borrow money to make purchases.
What is a premium?
The amount you pay for insurance every month.
What is an incentive?
Something that motivates or encourages one to do something.
What is property insurance?
Protection for your residency in case of something unexpected like a fire or theft.
What can affect your credit weather good or bad? ( answer can vary and points can still be given if accurate)
credit history
debt
payment history
What do people look at credit scores for?
To see how likely a person is to pay their debt back
What is auto insurance?
Insurance for a vechicle.
Where can you put your investments to start saving for retirement?
401k or IRA
What is one easy way to build good credit? ( Answer can vary)
Pay the bill on time.
What is a mutual fund?
What is a deductible?
The amount you pay for coverage on insurance before the plan starts to pay for damages.
What is the relationship between taking risk and return?
If you take a risk and invest you have an opportunity to get a return on more than what you invested.
What is the difference between interest charged and interest earned?
Interest charged is how banks make money. Interest charged is always higher than interest earned.
Who does auto insurance really cover in case of an accident by you?
The other vehicle.