Personal Finance Final Review Part 3

Which of the following is an example of a fixed expense?

• Rent

• Utilities

• Food

• Clothing

A written order to a bank to pay the stated amount to the person or business named is a(n)

• Endorsement

• Deposit Slip

• Check

• Withdrawl

The state of Missouri requires you to carry which of the following types of insurance?

• Full Auto coverage

• Liability Auto coverage

• Renter's Insurance

• Homeowner's Insurance

What is the cost of having insurance coverage, usually paid on a monthly basis, called?

• Policy

• Premium

• Deductible

• Max out of Pocket

What must be paid in order for the insurance company to pay for their portion of coverage following a claim?

• Premium

• Deductible

• Max out of pocket

• Policy

Who is the person designated to receive money from a life insurance policy?

• Heir

• Insured

• Policy Holder

• Beneficieary

This type of life insurance only offers coverage for a specific period of time?

• Term Life

• Whole Life

• Universal Life

• Variable Life

Which of the following savings/investment option has the highest risk?

• Stocks

• Savings Account

• Bonds

• Money Market Account

Retirement planning should begin

• At retirement

• When you win the lottery

• When you turn 65

• at an early age

When investing, the higher the risk you are willing to take

• the less the potential return

• the greater the return on investion

• the more you should consider gambling

• the more money you will need to invest