Personal Finance Final Review Sprin 2024

When you work more than 40 hours per week, it is called double time. (a)  

• true
• false

Time-and-a-half pay means you receive an overtime pay of one and a half of your regular​ (a)   hourly rate.

• true
• false

Ernesto is employed by Bigg Company. He has a family membership in his company's health insurance program. The annual premium is $5,432. Ernest's employer pays 80% of the total cost. Ernesto's contribution is deducted from his paycheck. What is his annual contribution?

• $1,086.40

• $1,125.65

• $1,527.989

• $1,567.20

Stanley is employed by the True Blue company. The PPO annual premium is $7,058. His employer pays 70% of the total cost. His contribution is deducted from his paycheck. What is Stanley's weekly deduction?

• $32.98

• $40.72

• $59.21

• $58.22

Brady is single and has a health insurance plan with the benefits shown in the figure below. His recent network health care costs include co-payments for 7 physicians visits and 8 specialist visits. Following hospital surgery he made co-payments for 12 physicals therapy visits and he had 80 visits from a home health care nurse at $55 each. His hospital admission charge was $250 and his hospital bill was $15,098. What amount did he pay?

• $3,819.60

• $4,399.60

• $4,149.60

• $5,389.60

Carl is 35 years old. He wants to purchase a $50,000, 5-year term life insurance policy. The premium per $1000 is $2.50. What is his annual premium?

• $125.00

• $156.22

• $235.45

• $326.88

Asana is 45 years old. She wants to purchase a $50,000, 5-year term life insurance policy. The premium per $1,000 is $4.87. What is her annual premium?

• $241.50

• $243.50

• $248.62

• $248.90

Taylor took out a $100,000, 5-year term policy at age 48. The premium per $1000 was $4.70. He will be 53 years old next year when the premium per $1000 will be $6.40. What is the amount of increase?

• $133

• $136

• $170

• $173

Jeff is 30 years old. He wants to purchase a whole life policy valued at $50,000. Use the figure below to calculate his annual premium.

• $432.878

• $465.90

• $563.80

• $587.50

Sam wants to pay his $1,058.90 annual premium monthly. What is his monthly payment?

• $88.21

• $89.01

• $90.01

• $92.31