Personal Finance TEST

Front

Amount of expenses that must be paid out of pocket before an insurer will cover any expenses:

Back

deductible

Front

What is a Budget?

Back

Money used to buy and pay for household items, such as electricity and groceries

Front

Blue Financial is a financial institution owned by its members. It offers lower loan rates and easier application processes for its members. Based SOLELY on this information, Blue Financial is MOST LIKELY a

Back

credit union

Front

What is credit?

Back

when you buy something and pay for it later

Front

What is debt?

Back

Money you borrowed and has not repaid

Front

Which kind of insurance pays a monthly income to people who are unable to work for an extended period?

Back

disability insurance

Front

What is one benefit of saving money?

Back

Having more money later

Answer explanation

Saving money can help you purchase something more expensive later.

Front

Money you earn through work

Back

Income

Front

Of the following people, which one would probably pay the highest rates for car insurance? 50 year old single man, 30 year old married women, 18 year old boy, 18 year old girl

Back

18 year old boy

Front

How does a credit card work?

Back

It is loaned/borrowed money you pay in one large bill at the end of each month.