Insurance and Final Review

What type of car insurance coverage is required in most states? Use lower case letters to type answer.

What type of insurance coverage do you HAVE to have if you lease or finance (have a loan) a vehicle?

• Liability

• Collision

• Comprehensive

• Medical Payments

Kathy was leaving Taco Bell when she backed into Mr. Smith's truck. Only the automobiles suffered physical damage. What type of automobile coverage(s) will Kathy use in this situation?

• Liability

• Collision

• Comprehensvie

• Medical Payments

Kyle went fishing at the Mississippi River. While his car was unattended, someone stole Kyle's hubcaps. What type of coverage(s) will Kyle use?

• Liability

• Uninsured/

  underinsured

• Collision

• Comprehensive

Twins, Shelly and Sue were driving home from track practice. Sue was talking on her cell phone and totaled her car and the car driven by Mrs. Jones, the woman she hit. Besides a few bumps and bruises Mrs. Jones was fine. Sue and her sister were not seriously injured but did require medical attention. What type of coverage(s) is needed?

• Liability

• Comprehensive

• Collision

• Medical Payments

What is the range for Credit Scores?

What things have a positive impact on credit scores?

• Paying bills on time

• Using less than 30% of your available credit

• Having a credit card, but not using it

• Marriage

• Having a long credit history

How can you build a CREDIT HISTORY?

• Get a cosigner

• Become an authorized user

• Take out a small loan and start to pay it back

• Get a credit card, use it for small purchases, and be a deadbeat

• Be a cosigner

What are the steps in creating a budget?

• Identify Expenses and Track Spending

• Review and Adjust

• Determine Income

• Track Expenses

• Implement/

  Create the Budget

What are the 2 mandatory taxes that come out of your pay-stub?

• Social Security and Medicare

• Military and Social Security

• Education and Military

• State Taxes and Federal Taxes