2019-2020 Personal Financial Literacy Final Exam Review

Long term and Short Term are examples of what kind of Insurance?

• Auto Insurance

• Disability Insurance

• Life Insurance

• Health Insurance

Age, location, health history and occupations are factors that impact the cost of which insurance?

• Health Insurance

• Auto Insurance

• Disability Insurance

• Life Insurance

What can a insurance agent do for you?

• Give map directions.

• Help with financial planning.

• Recomend a good car mechanic.

• Sell you life insurance.

Term and Permanent insurance are examples of what?

• Health Insurance

• Disability Insurance

• Auto Insurance

• Life Insurance

What insurance coverage will cover a new purchase for 20 days?

• Health Insurance

• Disability Insurance

• Auto Insurance

• Life Insurance

The value of the most expensive option not chosen is a definition of what?

• Risk

• Opportunity cost

• Economics

• Valuation

Something required for life to be sustained is called what?

• Want

• goal

• choice

• basic need

Something that is required for life to be sustained is called what?

• A want

• A need

• A fee paid for the use of someone elses money.

• A secure bank account that allows your money to be accessed and earns a small amount of interest.

Something that is not required for life to be sustained is called what?

• A want

• A need

• A fee paid for the use of someone elses money.

• A secure bank account that allows your money to be accessed and earns a small amount of interest.

What is interest?

• A want

• A need

• A fee paid for the use of someone elses money.

• A secure bank account that allows your money to be accessed and earns a small amount of interest.