Fast & Curious - Game of Life

___________ is the total you earn as income by working.

• gross pay

• net pay

• benefit

• insurance

1. ___________ is the amount you actually receive in your paycheck once withholdings are subtracted.

• net pay

• gross pay

• utility

• retirement

When budgeting for housing, it's a good idea to spend no more than ______ of your monthly income before taxes on rent/mortgage payments.

• one third

• one quarter

• one half

• one fifth

1. ______ are money that individuals and businesses pay to the government to fund public services likes schools, fire and police departments, parks, and libraries.

• taxes

• utilities

• benefits

• Insurance

1. The money paid up front as part of signing on a rental agreement for an apartment is a one time fee called a ___________.

• security deposit

• down payment

• mortgage

• utility

A loan that is used to buy a home and is paid back on a monthly basis is called a ___________.

• mortgage

• lease

• salary

• insurance

What is a benefit of renting a property?

• Renters can move without the hassle of selling a property

• Renters are responsible for all maintenance

• Renters can easily make major renovations

• Rent money accumulates as an investment in the property

What is a similarity between renting a house and leasing a car?

• Lack of ownership at the end of the term

• Ability to make significant renovations

• Accumulation of rent money as an investment

• Responsibility for maintenance

What is the goal of having insurance?

• To protect oneself from financial loss in unexpected situations

• To make a profit

• To avoid paying for any damages

• To increase monthly expenses

What does a premium refer to in an insurance policy?

• The amount you pay for the insurance policy to be in effect

• The person who receives the money

• The time period that your policy covers

• The specific amount you must pay before the insurance company gives any money