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Insurance
Saving and Budgeting
Renting
Banking
Money
100
Sally's health insurance policy requires her to pay the first $500 of medical costs each year before the company will pay any of her medical bills. This policy provision is called this.
What is annual deductible?
100
This type of interest is paid on the principal alone.
What is simple interest?
100
The amount of their budget that a person spends on their housing is this fraction.
What is 1/3?
100
Troy has $50 a month transferred electronically from his checking account to his savings account. This is an example of this type of plan.
What is a savings plan?
100
Scott just got an ATM card to use and must choose a PIN (Personal Identification Number). How should he select a PIN that will give him maximum protection against anyone else being able to find out what the PIN is?
What is use a random selection of letters and numbers?
200
When Jessie needs health care, she must first go to her primary care physician who coordinates her care and decides whether Jessie should see a specialist. Jessie pays $10 as the co-pay when she sees her primary care doctor. Jessie has this type of health insurance.
What is managed care health plan?
200
These type of expenses make it hard to budget at times because they change every month.
What are variable expenses?
200
When renting, this is the person or organization who is responsible for maintaining your property.
Who is your landlord?
200
This term is used to describe the money originally invested or loaned on which interest and returns are calculated.
What is principal?
200
This is a savings instrument that requires a deposit for a period of time during which there is a penalty for withdrawals.
What is a bank certificate of deposit?
300
John had an unfortunate accident and passed away. His wife will receive his money from his life insurance policy. His wife is considered this.
What is a beneficiary?
300
When saving and budgeting, these items need to be paid for first which include food, shelter, transportation and education.
What are your needs?
300
As a renter, you decide to change the color of the walls and replace the carpet with wood flooring. You have violated this document.
What is your lease?
300
A student has to make a college tuition payment at the end of August. The person should do this to prepare for this payment.
What is decide how much money will be needed and then place 1/12th of that amount in a separate account each month?
300
Joan wants to open a checking account and wonders if checking accounts pay interest. How would you answer her question?
What is some types of checking accounts pay interest?
400
Mr. Akon's wife died. The money he received as the beneficiary on her life insurance is called this.
What is death benefit or face value?
400
When budgeting, put a little money aside each month for these things, the items that are not a need.
What are wants?
400
Upon moving into a rental property, tenants must pay this.
What is a security deposit?
400
You have a checking account balance of $100 and you deposit a personal $200 check from your brother in your checking account. You will be able to withdraw $150 in cash after this amount of time.
What is 3 to 7 days later, depending on your bank's check clearance policy?
400
The financial institution where Ms. Sanchez has her checking account will continue to pay out money for the checks she writes as long as she has this in her checking account.
What is there is enough money in Ms. Sanchez's account to cover the amount of the checks?
500
When a self-employed person decides to purchase disability insurance it is generally to protect against this.
What is protect against the financial effects of not being able to work?
500
This type of interest is earned on both the principal amount and any interest already earned.
What is compound interest?
500
This is the signed document between the landlord and the tenant.
What is a lease?
500
When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement from the bank, this is the first action a person should take.
What is determine that checks already written have cleared?
500
Money for saving, investing, or spending cannot be from this type of loss.
What is capital losses from the sale of stock?