Personal Finance Part 1

Which of the following is a benefit of insurance?

• it pays all of the sustained losses

• it pays all medical costs

• it allows an individual to share the risk of losses with others

• it allows the insurance company to make a profit on covered losses

Having a questionable Social Media Footprint through the use of negative social media posts can have which of the following economic impacts on a person's future?

• a negative impact on future job opportunities

• a negative impact on future romantic relationships

• a negative impact on their credit score

• a negative impact on getting insurance

Someone that is injured and unable to work will most likely receive benefits from

• auto insurance

• disability insurance

• renters insurance

• homeowners (property) insurance

Which of the following ways of paying for college requires an individual to have an on-campus job while in school?

• HOPE Scholarship

• Federal Subsidized student loan

• Work-study program

• Pell Grant

Roger weighed the additional income he could make if he obtained a college degree against what he would have to pay for college. Economists refer to this process as

• cost-benefit analysis

• rational decision making

• marginal analysis

• common sense

The monthly cost of having insurance is

• co-pays

• deductibles

• premiums

• taxes

Cost-benefit analysis is a key component of which of the following?

• microeconomics

• rational decision making

• macroeconomics

• scarcity

What is the portion of an insurance claim you have to pay?

• premium

• co-pay

• deposit

• deductible

Which of the following is true about your social media footprint?

• not having one is the best way to go

• it only includes public accounts and posts

• you have to give your permission for your employer to access it

• it exists even if you are NOT on Facebook, Twitter or Instagram

What is the best method for filing an anonymous complaint against a restaurant owner that does not treat customers fairly and professionally?

• contact the local newspaper

• contact the Better Business Bureau

• create a bogus social media account and leave negative comments

• contact the local police department