WorksheetsTaxes, Insurance and Credit Review
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Which type of tax structure has the same dollar amount for everyone?
a)
Progressive
b)
Regressive
c)
Proportional
2.
Which item would not be paid for with tax revenue?
a)
Road repairs
b)
Public Schools
c)
Public Libraries
d)
Private Schools
3.
Which form do we use to help us fill out our taxes? It's from our employer and shows us our gross income, total taxes paid, and total voluntary deductions.
a)
W2
b)
W4
c)
1099
d)
1040
4.
What is a premium?
a)
The amount of a loss you must pay before insurance kicks in
b)
The highest tier of insurance
c)
The amount you have to pay for someone else's mistake
d)
The cost of an insurance policy
5.
Which part of your car insurance covers damage done in a non-accident?
a)
Liability
b)
Comprehensive
c)
Collision
d)
Specialized
6.
Your Renters' Insurance covers your personal belongings and the structure of your rental property.
a)
True
b)
False
7.
What do we call the person who receives money when a life insurance policy holder dies?
a)
Beneficiary
b)
Insured
c)
Insurable Interest
d)
Insurer
8.
Which type of insurance provides income to people who cannot work due to injury or illness?
a)
Life Insurance
b)
Health Insurance
c)
Liability Insurance
d)
Disability Insurance
9.
What type of coverage do we need to get in case someone gets hurt on our property?
a)
Disability Coverage
b)
Liability Coverage
c)
Health Coverage
d)
Specialized Coverage
10.
What is the ability to borrow money?
a)
Credit
b)
Debit
c)
Finance Charge
d)
FICO
11.
What does APR stand for?
a)
Actual Percentage Rate
b)
Annual Preliminary Rate
c)
Actual Preliminary Rate
d)
Annual Percentage Rate
12.
Which of the following is not one of the three credit bureaus that provide a credit report?
a)
Experian
b)
Discover
c)
Equifax
d)
TransUnion
13.
What is a Credit History?
a)
A summary of your borrowing and repayment history
b)
The list of all of your of your open credit cards
c)
A number ranging from 300-850 that rates how likely you are to fall 90 days behind in a payment
d)
A report o fyour creditworthiness with identifying information
14.
What counts the most in your credit score?
a)
Types of credit used
b)
Amounts owed
c)
Payment history
d)
Amounts owed
15.
Which type of Life Insurance guarantees payment to a beneficiary if the policyholder dies during a specified period of time?
a)
Term
b)
Permanent
c)
Whole
d)
Universal
16.
Which of the following is not a way to reduce your premium?
a)
Stick with one company forever - loyalty discount
b)
Bundle car and house insurance
c)
Increase your deductible
d)
Have a security device
17.
What is the form called that we use to report our taxes to the Federal Government?
a)
1040
b)
W2
c)
W4
d)
1099
18.
Which tax structure increases as income increases?
a)
Proportional
b)
Regressive
c)
Progressive
d)
Excise
19.
Which of the following is not considered a tax deduction?
a)
Child
b)
Clothing donation
c)
Health Expenses
d)
Elective surgeries
20.
Which is not one of the 3 C's of Credit?
a)
Character
b)
Capacity
c)
Capital
d)
Collateral
100 %
