EPF Unit 8 - Test Review

Front

Provides protection against a possible negative event (illness, accident, etc.)

Back

Insurance

Front

Where do most Americans get their health insurance?

Back

Their place of employment

Front

In regards to insurance, a co-pay is:

Back

A flat rate that you pay for a specific service

Front

A person wishing to have lower insurance premiums should have a: High Deductible, High Payments, Low Deductible, Lower Co-pay

Back

High Deductible

Front

Money paid to an insurance company for a policy.

Back

Premium

Front

Which type of insurance covers you only for a specific period of time?

Back

Term Life Insurance

Front

Amount you must pay before your insurance covers expenses.

Back

Deductible

Front

Which type of insurance coverage are all drivers in NC required to have?

Back

Liability coverage

Front

Which type of insurance covers you for life as long as the premiums are paid? Whole Life Insurance, Term Life Insurance, Variable Life Insurance, Medicare

Back

Whole Life Insurance

Front

The addition of interest to the principle of a loan or deposit; it's essentially when you earn interest on your interest. It's great when you are saving and investing, not so great when you are borrowing

Back

Compound Interest