Credit and Insurance

A request by a policyholder for compensation from the insurance company for a covered loss or policy event is called a

• Adjuster

• Barter

• Claim

• Deductible

Which of the following is NOT a characteristic of money?

• a. Portability

• b. Divisibility

• c. Durability

• d. Unlimited availability

The annual or monthly payment made to acquire and maintain insurance coverage is the

• a. Deductible

• b. Coverage

• c. Premium

• d. Liability

A business’s legal financial debts or obligations that arise during the course of business operations are called its

• a. Assets

• b. Portfolio

• c. Interests

• d. Liabilities

Which of following will most likely cause your insurance premiums to decrease?

• a. Moving to a bigger city

• b. Filing a claim

• c. Driving farther to work or school each day

• d. Turning 25 years old

A loan on which you have not paid at least the assigned minimum is considered

• a. Amortized

• b. Bankrupt

• c. Compounded

• d. Delinquent

This refers to the chance an investment’s actual outcome will differ from

the expected return, including total loss of the investment or unexpectedly large gains.

• a. Investment goal

• b. Collateral

• c. Security

• d. Risk

An amendment or addition to an existing insurance policy that alters the terms or scope of the coverage is an

• a. Endorsement

• b. Lien

• c. Rider

• d. Appendix

This protects individuals’ deposits in member banks up to

$250,000.

• a. Securities & Exchange Commission

• b. President of the United States

• c. Federal Reserve

• d. Federal Deposit Insurance Corporation

Tags

FDIC

Which of the following is NOT a way to improve your credit score?

• a. Make payments on time

• b. Use credit cards to pay credit cards

• c. Pay down your credit

• d. Pay more than the minimum due