5.3 Flashcard Quiz 168 - 178

How can you lower your premium payment on your insurance?

• lower your deductible

• cancel your insurance

• raise your deductible

• pay a higher premium

This is provided by insurance companies. Allows individuals to share the cost of debt associated with unforeseen issues such as auto accidents, health costs, the loss of a loved one, etc..

• Limited liability

• Shared liability

• Premium

• Banks

Automobile, Health, Disability, Life, Property are all types of

• Fraud

• Stocks

• Bonds

• Insurance

Cost or how much you pay for insurance is called the

• Sales tax

• Premium

• Investment

• Mutual fund

Amount you have to pay out of pocket before your insurance pays.

• Debt

• Deductible

• Compound interest rate

• Progressive tax

Refers to the purchasing power of your earnings. Your wages may stay the same from one year to the next, but you cannot buy as much because of rising prices. This is a drop in

• Regressive tax

• Income tax

• Mutual fund

• Real wages

Demand for workers in the market. Number of workers in the market. Amount of specialized knowledge, skills, training, and licenses that are required for the job. These are called factors that affect

• Earnings

• percentage rate

• property tax

• payday loans

What type of interest is "interest on interest" or also referred to as a mathematical explosion?

The interest rate fluctuates over time because it is based on an index that changes periodically.

• Savings rate

• Variable

• Compound interest

• Payday loan

The annual percentage rate (APR) is the yearly rate charged for borrowing or the yearly rate earned through an investment.

• Annual percentage rate

• Fixed income rate

• Sales tax rate

• Simple interest rate