Insurance
Banking
Vocabulary
Simple Interest
Taxes

100

If you have property damage liability of $500, and you cause $50 worth of damage, how much does insurance pay?
What is $50.

100

The money your bank account starts with.
What is the beginning balance

100

This covers damage to your car when you hit something.
What is collision.

100

Interest earned=Principle*Rate*Time
What is the simple interest formula

100

The number of hours you worked.
What is the pay period

200

What kind of insurance covers the medical care of passengers in your car if you get in an accident?
What is PIP.

200

The money you add to your account.
What are deposits or credits

200

This covers damage to your car if something hits you.
What is comprehensive.

200

This is in months
What is the time

200

The money you make per hour
What is the rate

300

The cost of a policy.
What is a premium.

300

The money that gets subtracted from your bank account.
What is a debit.

300

When a holder submits a bill to insurance to pay covered expenses.
What is a claim.

300

1000= 2000*.05*____
What is 10

300

The pay rate for $10per hour rate and 36 hours worked.
What is $360

400

The firs amount of money you pay for a policy.
What is a deductible

400

An Item that hasn't been subtracted from your bank account.
What is an outstanding item.

400

These are certain events when insurance doesn't pay anything.
What are exclusions.

400

4000=____*.20*10
What is 2000

400

The way you calculate overtime
What is rate*time and a half (for all hours over 40)

500

How the insurance company looks at a insurance policy.
What is "what you will pay in".

500

The money your account ends with
What is an ending balance.

500

This shows that someone has liability insurance.
What is SR-22.

500

_____=2400*.30*5
What is 3,600

500

The money made for a $9 rate for 47 hours (calculate overtime)
What is $454.50