Financial Literacy

Credit rating increases when you

• Pay your bills on time

• Get your paycheck

• Take out a loan

• All of the above

Liability insurance on your car covers

• Damage to your car

• Damage to the car you hit

• Your medical bills

• All of the above

Who needs life insurance?

• Parents of small children

• Single college students

• Adults with no dependents

• None of the above

You can reduce your insurance premium by paying annually instead of monthly

• True

• False

What type of coverage is needed to repair your car if you hit a tree?

• Liability

• Comprehensive

• Health

• Collision

The price paid for insurance coverage is the

• Premium

• Co-Pay

• Deductible

• None of the above

The higher the deductible, the _________ your premium will be

• Lower

• Higher

Things that can increase your insurance premiums include all of the following, except...

• Filing multiple claims

• Getting higher grades

• driving longer distances daily

• Your age

Maria has a high credit score, so ___________ consider her a good risk

• Cashiers

• loaners

• Space Pirates

• lenders

_____________ must be paid back with interest

• Student loans

• Debit cards

• Scholarships

• Prom tickets