Econ Ch 6 Consumers, Savers, Investors

What is the difference between gross and net pay?

• Net pay describes your pay after deductions, gross pay is before.
• Gross and net pay are the same.
• Gross pay describes your pay after deductions, net pay is before.
• I don't know because I don't have a job.

A written financial plan can also be called _____.

• Personal Finance
• Budget
• Envelope System
• reconcile

Amount you pay monthly, quarterly, semiannually or annually to purchase different types of insurance 

• Premium
• Deductible
• Out-Of-Pocket Expenses
• Liability

Amount you must pay before you begin receiving any benefits from your insurance company_.

• Out of Pocket Expense
• Premium
• Liability
• Deductible

The possibility of a loss when investing is called

• Risk

• Liability

• Insurance

• Hazard

Which coverage pays for injuries and damages to others only?

• Comprehensive
• Collision
• Personal Injury Protection
• Liability

Insurance coverage to protect you from damage to your car other than by collision or vehicle overturning

• Floater
• Collision
• Comprehensive
• Liability

Which type of insurance protects against loss due to death?

• Life
• Health
• Disability
• Long-Term Care

When income and expenses are equal

• Budget
• Income
• Balanced Budget
• Check

Which is a nonprofit financial depository?

• bank
• casino
• credit union
• commerical banks