What is a deductible?

The amount you pay before insurance pays

Financial Literacy Your Financial Future

Test your knowledge on insurance coverage, investment factors, stocks, bonds, and more in this quiz covering fundamental concepts in finance.

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
True or false: Insurance always costs less than medical expenses.
True
False
2
What is a copay?
Fixed fee for services
Amount before coverage
Monthly insurance payment
Maximum healthcare cost
3
What is a deductible?
Monthly insurance payment
Fee for doctor visits
Maximum healthcare cost
The amount you pay before insurance pays
4
What is a stock?
Ownership in a company
Loan to a company
Fixed income investment
Type of mutual fund
5
What is a mutual fund?
Single stock investment
Group of stocks
Fixed income investment
Type of bond
6
What is the purpose of health insurance?
Increase healthcare costs
Reduce medical expenses
None of the above
Limit doctor visits
7
What risk level is suitable for retirees?
Lower risk
Highest risk
No risk at all
Medium risk
8
What is the expected rate of return?
Total investment cost
Monthly payment amount
Projected investment growth
Amount paid for insurance
9
What is a premium in insurance?
Amount before coverage
Fee for doctor visits
Maximum healthcare cost
Payment for coverage
10
What is a bond?
Investment in stocks
Loan to a company
Ownership in a company
Type of savings account
11
Over time the average rate of return on stocks is:
4%
3%
Less than 2%
More than 5%
12
Which investment factor is least important?
When to use money
Expected rate of return
Online deposit options
Investment risk level
13
Why might a stock increase in value?
High product demand
All of the above
Industry growth
Good company management
14
True or false: A stock exchange is where stocks are traded.
False
True
15
What does liability insurance cover?
Only my own car
Damages to others' cars
All types of damages
Only theft damages
16
What is the annual out-of-pocket maximum?
Deductible amount
Total yearly expenses
Monthly insurance payment
Maximum you pay yearly

Financial Literacy Your Financial Future Flashcards | StudBud

Financial Literacy Your Financial Future

16 termsStudBud Administration

Test your knowledge on insurance coverage, investment factors, stocks, bonds, and more in this quiz covering fundamental concepts in finance.

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
True or false: Insurance always costs less than medical expenses.
True
False
2
What is a copay?
Fixed fee for services
Amount before coverage
Monthly insurance payment
Maximum healthcare cost
3
What is a deductible?
Monthly insurance payment
Fee for doctor visits
Maximum healthcare cost
The amount you pay before insurance pays
4
What is a stock?
Ownership in a company
Loan to a company
Fixed income investment
Type of mutual fund
5
What is a mutual fund?
Single stock investment
Group of stocks
Fixed income investment
Type of bond
6
What is the purpose of health insurance?
Increase healthcare costs
Reduce medical expenses
None of the above
Limit doctor visits
7
What risk level is suitable for retirees?
Lower risk
Highest risk
No risk at all
Medium risk
8
What is the expected rate of return?
Total investment cost
Monthly payment amount
Projected investment growth
Amount paid for insurance
9
What is a premium in insurance?
Amount before coverage
Fee for doctor visits
Maximum healthcare cost
Payment for coverage
10
What is a bond?
Investment in stocks
Loan to a company
Ownership in a company
Type of savings account
11
Over time the average rate of return on stocks is:
4%
3%
Less than 2%
More than 5%
12
Which investment factor is least important?
When to use money
Expected rate of return
Online deposit options
Investment risk level
13
Why might a stock increase in value?
High product demand
All of the above
Industry growth
Good company management
14
True or false: A stock exchange is where stocks are traded.
False
True
15
What does liability insurance cover?
Only my own car
Damages to others' cars
All types of damages
Only theft damages
16
What is the annual out-of-pocket maximum?
Deductible amount
Total yearly expenses
Monthly insurance payment
Maximum you pay yearly