Personal Finance

Amount of expenses that must be paid out of pocket before an insurer will cover any expenses:

• 1. deductible

• 2. premium

• 2. rider

• 2. installment

What is a Budget?

• Money used to buy and pay for household items, such as electricity and groceries

• Money to give to others

• Money used to eat at an all you can eat buffet

• Money used to build a grocery store

Blue Financial is a financial institution owned by its members. It offers lower loan rates and easier application processes for its members. Based SOLELY on this information, Blue Financial is MOST LIKELY a

• credit union

• commercial bank

• savings and loan

• Credit card agency

What is credit?

• when you purchase items with cash

• when you use a check to buy groceries

• when you deposit money in your checking account

• when you buy something and pay for it later

What is debt?

• items you buy with cash

• Money you borrowed and has not repaid

• money you have available in your account

• money used to buy clothes

Tags

CCSS.RF.2.3C

CCSS.RF.2.3E

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.5.3A

Which kind of insurance pays a monthly income to people who are unable to work for an extended period?

• health insurance

• disability insurance

• life insurance

• homeowner’s insurance

What is one benefit of saving money? 

• Buying something now

• Having more money later

• Giving away a lot of money

Answer explanation

Saving money can help you purchase something more expensive later.

Tags

CCSS.RI.6.2

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.2.2

CCSS.RL.6.2

Money you earn through work

• Taxes

• Interest

• Income

• Credit Card

Tags

CCSS.6.RP.A.3B

Of the following people, which one would probably pay the highest rates for car insurance?

• 50 year old single man

• 30 year old married women

• 18 year old boy

• 18 year old girl

What may be a penalty for a late credit card bill payment? (Select all that apply)

• Interest added to your future payments

• The teacher gives you silent lunch

• Your credit scores goes down

• Extra money added to your checking account