Show:
Financial Services
Insurance
Smart Consumer
Budgeting
Surprise
100
An account used to handle your daily expenses and bills is referred to as a ___________.
What is a checking account
100
_________ reimburses you for unexpected losses or damages caused by a specific hazard for a fee.
What is insurance
100
What is the difference between a need and want, give an example.
Need is something essential like food and place to live. A want is something that makes life more interesting and fun, like going to a movie.
100
What is a budget?
What is An itemized list of all your expenses, and how much you are allowed to spend on them, including the money going into savings.
100
Your house is hit by a falling tree and the roof collapses. Which type of insurance would cover you?
What is Home insurance
200
How does a debit card differ from a credit card?
What is more like an electronic check. Still on demand payment from your checking account. Are not borrowing money like a credit card.
200
True or False: You can receive insurance for the sentimental value of your belongings.
What is False
200
what does it mean to "Pay yourself first"?
What is setting money aside in an account as savings, that you will not spend on anything else.
200
What does it mean when your budget is "in the red".
What is You are spending more money then you are making.
200
What are the "costs' of having a job?
What is transportation, uniforms, ect.
300
What should you do if your debit card or credit card is lost or stolen?
What is notify the banking institute immediately.
300
What are the four strategies used for managing risk.
What is Avoid, Reduce, Accept, Share
300
True or False: Purchasing your first car on the spot, without researching good prices or taking a test drive would be a really good idea.
What is False
300
List three things that should be considered as part of your budget.
What is food, housing, transportation, phone, leisure activities, bills.
300
What are some examples of how your job pays you other than a salary?
What is employee benefits like health insurance, 401k plans, getting free memberships and discounts on services.
400
What are three ways to avoid financial fraud?
What is 1. verify peoples identity before sharing your info, 2. Don't share or write down PIN numbers, 3. Shred personal documents rather then throw in trash, 4. Be skeptical of online offers and deals, 5. shop on websites with https only, 6. only surf the web on secure internet connections.
400
What is a deductible?
What is a small fraction of the cost of the loss that needs to be paid to the insurer, before they will pay for your claim.
400
What are the steps of the DECIDE process designed to help you do?
What is to make the best purchasing and financial decisions possible based on the information you have.
400
What does it mean to "Pay yourself First"?
What is To set aside your money for savings before you start spending the "extra" money you make.
400
If you suspect that someone may know, or have access to your online banking information, what should you do?
What is change your login and password information.
500
Explain how you would reconcile a checking acount
What is compare your bank register with monthly statement from bank account. Add and subtract any outstanding deposits and withdrawals to monthly statement, and verify that it matches your bank register.
500
Explain the acronym INSURE when deciding if something is insurable.
What is Insurable interest, Numerous, Specific Loss, Unintentional and unexpected, Reasonable Cost, Estimatable
500
What does the acronym DECIDE stand for?
What is Define your goals, Establish criteria, Choose a few good options, Identify pros and cons, Decide what's best, Evaluate results.
500
What is the best way to budget for a new car? How would you include this into your monthly budget.
What is Include "saving for a car" as a line item in your budget, and continue to put the same designated amount in a savings account for the car every month.
500
What are the three main steps to filing an insurance claim?
What is call the insurance agent immediately, record the event (police report and/or photos), file a claim report document.