Personal Finance Insurance And Taxes Question Preview (ID: 40040)
Personal Finance.
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Insurance can help you:
a) minimize monthly expenses
b) financially protect against unexpected accidents
c) reduce the chances of getting into an accident
d) cover all out-of-pocket costs
Jan pays $70 each month for her auto insurance policy. This regular payment is called a:
a) co-pay
b) deductible
c) premium
d) claim
In which of the following scenarios will you be entitled to pay the least amount of money out-of-pocket for a medical expense?
a) You have no insurance.
b) You have health insurance with a $500 deductible.
c) You have auto insurance with a $700 deductible.
d) You have health insurance with a $1,500 deductible
Tax that you pay when making a profit from selling a house is an example of:
a) Sales Tax
b) Income Tax
c) Property Tax
d) Capital Gains Tax
Your auto insurance policy has a $200 monthly premium and $700 deductible. What is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs?
a) $200
b) $500
c) $700
d) $900
On a pay stub, what is the difference between Net Pay and YTD Net Pay?
a) Net Pay is how much you've made in a year, YTD Net Pay is how much is withheld for taxes.
b) Net Pay is how much you've made during a pay period, YTD Net Pay is how much is withheld for taxes.
c) Net Pay is how much you've made during a pay period, YTD Net Pay is how you've made this year.
d) Net Pay is how much you've made minus taxes in one year, YTD Net Pay is how you've made in the last pay period.
You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company each month for coverage?
a) $200
b) $300
c) $500
d) $800
Why might you complete a 1040 instead of a 1040EZ?
a) You own a home.
b) You make less than $100,000.
c) You don't claim any dependents.
d) None of the above.
Which of the following typically have the highest auto insurance premiums?
a) Young, inexperienced drivers
b) Older, experienced drivers
c) Drivers who have safe driving records
d) Drivers who travel short distances
The person who receives financial protection from a life insurance plan is called a:
a) Beneficiary
b) Payer
c) Insured
d) Giver
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