Financial Management: Question Preview (ID: 17214)

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Bob was in a car accident. The damages to his car totaled $6,000, but he only had to pay $1,500 because his insurance company covered the rest. How much money did Bob not have to pay because he had auto insurance?
a) $7,500
b) $2,000
c) $4,500

Bill has to have back surgery will be out for 3 months. His disability insurance policy will pay him 60% of his salary. If his salary is $3000 per month how much money will he receive from his insurance company for the three months he will be out?
a) $1,800
b) $5,400
c) $9,000

True or False: Life insurance will help cover funeral costs when a person dies.
a) False
b) True

Fill in the Blank: Medicaid is a ________________ health insurance program to help people who cannot afford health care costs.
a) private
b) government
c) military

True or False: A deductible is the amount you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs.
a) True
b) False

Which of the following is NOT an example of an unexpected event?
a) car accident
b) fire
c) trip to Florida

Fill in the blank: Insurance is a financial agreement between a person and an insurance company to financially protect the person from ______________ events.
a) current
b) expected
c) unexpected

True or False: Auto insurance is required by law if you drive.
a) True
b) False

Angelina has a 20% off coupon to use on a shirt that cost $10.00. Calculate the sale price.
a) $12.00
b) $2.00
c) $8.00

Which of the following is NOT one of the five major types of insurance?
a) Health
b) Earthquake
c) Auto

Books are on sale for $30 for 3 books. Calculate the unit price.
a) $10
b) $30
c) $90

Alexis bought a new skirt and blouse with a purchase price of $100.00. Calculate 6.75% sales tax for her purchase.
a) $6.75
b) $10
c) $13

Eric buys a copy of his favorite video game for $25.70. You give the clerk $30. How much change will you receive?
a) $4.20
b) $4.30
c) $4.40

Which item listed below is not funded by taxes in your community?
a) public library
b) community center
c) fast food restaurant

Fill in the Blank: When you get a job, you will be required to complete a ________ form. This form is usually completed on your first day of work or at an employee training prior to starting work.
a) W-4
b) W-2
c) 1040EZ

Which answer below is an example of earned income?
a) Interest earned on a savings account.
b) Money earned from working at the mall.
c) Money received from Social Security.

Fill in the Blank: A _______________ is a person who relies on another person, usually a family member, for financial support.
a) taxpayer
b) dependent
c) community

Fill in the Blank: Taxes are fees that the government ___________ people to pay in order to live and work in their state and the USA.
a) requires
b) does not require

Karen determined that the property in her apartment was worth $28,500. Which insurance option below should she choose?
a) $30,000 personal property
b) $20,000 personal property
c) $10,000 personal property

What is the only payment method that does not charge interest or fees?
a) Currency
b) Credit Card
c) Debit Card

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