Auto Insurnace
Which of the following is not a type of bank account?
A) Credit Account
B) Checking Account
C) Savings Account
D) Certificate of Deposit
A) Credit Account
What should you do if you're unhappy with your current bank?
A) Withdraw all your money and keep cash
B) Contact your bank
C) Close all accounts
D) Research and find the right fit
D) Research and find the right fit
Why do some people avoid using banks?
A) Too many customer service agents
B) Limited ATM access only
C) Too much interest earned
D) Lack of trust and financial literacy
D) Lack of trust and financial literacy
Which type of bank is known for having multiple physical locations and a wide range of services?
a) Credit Union
B) Retail Bank
C) Online Bank
D) Investment Bank
B) Retail Bank
What does the FDIC do?
A) Offer loans to individuals
B) Regulates online transactions
C) Insures bank deposits
D) Approves new bank branches
C) Insures bank deposits
Which account is typically used for everyday spending and receiving payroll?
A) Money Market
B) Checking Account
C) Retirement Account
D) Savings Account
B) Checking Account
Which type of account earns interest and is best for saving money over time?
A) Checking Account
B) Savings Account
C) Credit Card
D) Loan Account
B) Savings Account
Direct deposit refers to:
A) Sending checks by mail
B) Transferring money manually
C) Using a deposit slip to get a loan
D) Employer sending your paycheck to your account
D) Employer sending your paycheck to your account
Which is not a benefit of credit union?
A) Better interest rates
B) Fewer fees
C) More branches than retail banks
D) Personalized service
C) More branches than retail banks
Which of the following is an example of an online bank feature?
A) Digital deposits and transfers
B) In-person teller transactions
C) Safety deposit boxes
D) Face-to-face customer service
A) Digital deposits and transfers
What is the purpose of insurance?
A) Avoid taxes
B) Mitigates the risk
C) Save for retirement
D) Invest in the stock market
B) Mitigates the risk
What is an insurance policy?
A) A contract between you and the insurance company
B) A summary of tax payments
C) A financial plan that helps to reduce the risk
D) A financial investment plan
A) A contract between you and the insurance company
The amount you pay each month for insurance coverage is called:
A) Deductible
B) Premiums
C) Claim
D) Copay
B) Premiums
What is a deductible?
A) A payment made by your employer
B) The cost of your premium
C) The amount you must pay before insurance kicks in
D) A reimbursement from the insurance company
C) The amount you must pay before insurance kicks in
A claim is:
A) A type of coverage
B) A request for insurance payment after an incident
C) A saving account
D) The premium amount
B) A request for insurance payment after an incident
Copays are typically associated with:
A) Health insurance
B) Life Insurance
C) A savings account
D) The premium amount
A) Health insurance
Which of the following pays for damage to your car in a crash?
A) Comprehensive insurance
B) Term Insurance
C) Copay Coverage
D) Collision Insurance
D) Collision Insurance
Comprehensive auto coverage pays for:
A) Gas and maintenance
B) Non-collision-related damages
C) Deductibles damages
D) Damage on the paint of the car due to a collision
B) Non-collision-related damages
Uninsured motorist protection covers:
A) Your deductible
B) Property damage caused by animals
C) Routine maintenance costs
D) Injuries if you're hit by someone without insurance
D) Injuries if you're hit by someone without insurance
Which insurance covers medical costs for both driver and passengers in your car?
A) Collision Coverage
B) Personal Injury Protection
C) Term Life
D) Liability Coverage
B) Personal Injury Protection
Up to what age can you remain on your parents' health insurance?
A) 21
B) 24
C) 26
D) 30
C) 26
If your employer doesn't offer health insurance, where can you get it?
A) State tax office
B) DMV
C) Health Insurance Marketplace
D) Social Security Office
C) Health Insurance Marketplace
A high deductible health plan is best suited for:
A) People with many health needs
B) People who rarely go to the doctor
C) Retire individuals
D) Children
B) People who rarely go to the doctor
Term life insurance covers:
A) Lifetime of the policyholder
B) A specific number of years
C) Medical expenses
D) Car Accidents
B) A specific number of years
Which insurance protects you against fraudulent used of your personal information?
A) Collision Insurance
B) Disability Insurance
C) Identity Theft Protection
D) Term Life Insurance
C) Identity Theft Protection