Unit Basics
This type of life insurance provides coverage for a specific period of time.
What is term life insurance?
This coverage pays for damage to other people's property in an accident you cause.
What is liability insurance?
This form is used by most U.S. taxpayers to file their annual income tax return.
What is Form 1040?
These are financial goals set for 6 months in the future
What are short term goals
This fund is recommended to cover unexpected costs and emergencies.
What is an emergency fund?
The amount you agree to pay out-of-pocket before your insurance kicks in.
What is a deductible?
Your employer uses this form to report your annual wages and the amount of taxes withheld from your paycheck.
What is a W-2?
Going out to eat is an example of these types of expenses
What are Variable Expenses?
The amount you pay for insurance coverage, typically on a monthly or annual basis.
What is a premium?
This coverage protects you if you're in an accident with someone who doesn't have insurance.
What is uninsured motorist coverage?
You fill out this form when starting a new job to determine how much tax should be withheld from your paycheck.
What is a W-4?
Retirement is an example of this type of Goal
What is a long term goal?
The comprehensive health care reform law was enacted in March 2010 and is often called "Obama Care"
What is the Affordable care Act
This comprehensive package includes liability, collision, and comprehensive coverage.
What is full coverage?
This form reports interest income you've earned from banks or other financial institutions.
What is a 1099-INT?
This type of expense stays the same each month, like rent or a car payment.
What are fixed expenses
The annual percentage rate charged for borrowing money.
What is APR?
The insurance type that covers an accident with another driver
What is collision coverage?
This form reports interest income you've earned from Investments.
What is a 1099-DIV?
The ability to quickly convert an asset to cash.
What is liquidity?