What are government programs meant to protect individuals from future hardships called
100
What is the voluntary insurance that individuals companies pay to cover unexpected losses.
Private Insurance
100
This is a system of spreading risks over large numbers of people.
What is insurance
100
These cards are issued by banking institutions and can be used anywhere. There is interest associated with use of these
What are credit cards.
100
These are people who are owed money
Who are creditors
200
The three major parts of this government program include old-age and survivors insurance, disability insurance and unemployment insurance.
Social Security
200
This type of private insurance insurance covers medical or hospital expenses
What is health insurance
200
This is the money someone pays for insurance protection
What is a premium
200
These are cards that can be used like a check to pay for goods and services and take money directly from a bank account.
What are debit cards
200
This is another term for coins and paper money
What is currency
300
This helps U.S. citizens 65 and older, and people who are disabled and unable to work pay for hospital care, some nursing home care, and help paying their medical bills.
Medicare
300
The two types of life insurance
What are Term and Whole Life.
300
These are cards issued by individual stores that are only good at that store
What are charge cards
300
The banking industry began thousands of years ago when these people would store villagers valuables in exchange for a small fee.
Who are Goldsmiths
400
Is a health insurance program that provides money to the states to help low income people pay for medical care.
Medicaid
400
This type of Insurance protects your personal property from events such as fire, hurricane, accident, vandalism and theft.
What is Property and liability insurance
400
This is a person named in a life insurance policy to receive the benefits should the insured person die.
What is a beneficiary
400
These are loans payable over a long period of time
What is long term debt
400
This is property used to guarantee repayment of a loan.
What is collateral
500
The U.S. President who started social security
Franklin D. Roosevelt
500
This is the most widely purchased type of property and liability insurance
What is auto insurance
500
This organization regulates the stock exchanges ensuring accurate information is provided to investors.
What is the SEC or Security Exchange Commission
500
These are the three characteristics of currency
What is 1. easy to carry 2. durable 3. made in standard form