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Health Insurance
Auto Insurance
Budget
Credit
More Vocab
100
The two types of health insurance.
What is managed care and fee-for-service (indemnity)?
100
Pays when you are legally responsible for injuring other people in an auto accident.
What is Bodily Injury Liability Coverage?
100
A Lexus is an example.
What is a luxury good?
100
A measure of ones financial ability to repay a loan.
What is capacity?
100
This type of insurance policy means that it has a reduced premium paid for by assistance from government funds.
What is a subsidized plan?
200
You pay for services as you receive them and submit a claim for reimbursement.
What is fee for service?
200
Pays for medical or funeral expenses on people in your car regardless of fault.
What is medical payments coverage?
200
Items such as pay from an occasional babysitting job, a gift of cash for graduation or a birthday, etc.
What is uneven income?
200
The two basic forms of consumer borrowing.
What are loans and credit cards?
200
The ability to borrow money in return for a promise of future payment.
What is credit?
300
The types of managed care plans (3 from text).
What is Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Point of Service (POS)?
300
Four reasons that auto insurance is increasing so drastically.
What are cars are more complicated today; medical technology is expensive; demand for more fuel efficient (lighter weight) cars; law suits for increasing amounts are more common?
300
A way to ensure a successful budget.
What is keep accurate records? others considered as well.
300
The three largest credit bureaus.
What are Equifax, Experian, and TransUnion.
300
The positive difference between the value of your home and what you owe on it.
What is equity?
400
In it is the statement that you must have insurance coverage that includes the minimum essential benefits or else pay a fee unless you are exempt.
What is the Individual Mandate?
400
Four factors affecting your auto premium.
What are driver classification; rating territory; driving record (points); type of car; claims history?
400
The purpose of a budget worksheet.
What is to help you divide your income among spending and saving options that will help you meet your goals
400
Payment History, Current Debt, Length of Credit History, New Accounts and Inquiries, and what kind of credit you use.
What is your credit rating based on?
400
The 80% rule.
What is the insurance company rule that you must buy homeowner's coverage for at least 80 percent of your home's actual replacement value at the time of your loss in order to receive full reimbursement for a loss?
500
Three exemptions from the Penalty incurred for not having minimum essential coverage under PPACA.
What are American Indians, religious conscience, hardship, not lawfully present, short coverage gap, no filing requirement, unaffordable coverage, incarceration, healthcare sharing ministry?
500
Five ways to reduce your auto premiums.
What are drive carefully; drive a moderately priced car; be a good student; live outside of city limits; increase your deductible; bundle policies?
500
The four columns on a budget worksheet.
What are label (items) column, expected amount, actual amount, amount over or under?
500
The three things looked at in determining creditworthiness.
What are Character, Capacity, and Capital?
500
You have received so many points on your driving record that no company will insure you. The state has to step in to get you insured. You are a ???
What is an assigned risk?