HT Financial Literacy Final Exam Review #1 2021

The maximum credit score is:

Standard min. wage laws do not cover individuals who work primarily for tips.

Which of the following is not one of the big three credit bureaus?

Property taxes vary from town to town in NJ

A co-signor is responsible for your debt if you do not pay it and it will have a negative impact on their credit score.

Type of auto insurance that covers your medical & funeral costs regardless of fault.

A dangerous place, condition, or object that is attractive to children

Which of the following items should one consider when choosing a bank?

Cancelled checks are those the bank has processed and they serve as proof of purchase.

A supplement to your auto or property liability coverage that expands your limits.

When attending an interview which of the following are considered good practices.

The Affordable Care Act mandates which of the following?

The default student loan repayment plan which has you pay off your loans in ___ years.

Which of the following items is an optional deduction from a worker's paycheck?

All of the individuals whom you have a connection with that may provide job information.

Which of the following will help you keep the cost of borrowing $$ for post high school as low as possible.

A subsidized loan is when ___ pays the interest while you are in school.

Income protection coverage to replace a portion of normal earning when you are sick or injured

You must file your taxes by this date.

Which of the following actions can a person not take with a debit card?

These are a portion of the profit paid to stockholders.

Type of auto coverage that covers damages to your car from items other than an accident.

Group insurance premiums are typically lower than premiums for individual policies.

Type of auto insurance that covers damages to others when you are at fault.

Subsidized loans are "need based" and not available to everyone.

Banks may refuse to honor checks after ______ months

Property tax is an example of a proportional tax.

A Roth 401k is taxed when your withdraw funds.

The lowest FICO score is

Banks may refuse to honor checks after ____ months

Each person is responsible for filing and paying all necessary taxes this is known as:

A plan that pays money to a beneficiary when insured person dies.

Does each consumer have just one credit score?

This pays medical and disability benefits when you are legally working and injured on the job

How many free credit reports can a person get annually? (not in the Covid world)

This is the form you must fill out before going to college in order get aid from the government to pay for college.

A method or spreading risk among a large group of people

Putting the policyholder back in the same financial condition before the loss occurred.

What agency insures individual bank accounts?

Which of the following is health insurance for those over 65?

The FDIC insures each account up to $100,000 per account.

Which of the following are considered benefits?

The highest FICO score is:

Which of the following should not be listed on a resume?

Which of the following is a true statement in regards to building a strong credit score?

The W-2 form is used by employees to list their exemptions and tax withholding

A ____ allows students to work on or off campus to earn money to help pay for college.

Both hourly and salaried workers must receive overtime pay for work over 40 hours in a week.

A negative item such as a late payment will stay on your credit report for __ years.

The income tax is considered a proportional tax.

The sales tax is considered a progressive tax.

Type of auto insurance that covers damages to your car when you are at fault.

Which form do workers complete so an employer can take out the correct amount of tax.

With overdraft protection, your checks will be covered even if you have insufficient funds in your account.

The process of matching your checkbook register with the bank statement.

The term used to describe the amount that a policyholder must pay before a health insurance policy pays any benefits is:

Which of the following is not a good practice in relations to debit cards.

Which of the following is an example of an attractive nuisance?

Form W-2 is used by employees to list their exemptions and determines tax withholding from their paychecks.

Stocks in corporations that reinvest their profits into the business so that it can grow.

Your email address should include your first initial and your last name

Credit unions charge higher fees than do commercial banks.

Which law requires an employer make reasonable accommodations to help a worker complete the essential function of a job.

Banks usually charge for processing overdrafts or checks that have bounced.

PPO's negotiate medical fees upfront with doctors, hospitals, etc...

The grace period for student loan is ___ months

The cost of an insurance policy

Medicaid is a program of medical insurance that is provided for retired Americans

Which of the following items is a required deduction from a woker's paycheck?

Forms of employee compensation in addition to pay.

Some banks charge fees if use an ATM that is not owned by that bank.

The amount you pay before insurance starts to pay.

Which form do you fill out to direct your employer to take out the appropriate amount of taxes.

A unsubsidized loan is when ___ pays the interest while you are in school.

The person to whom the face value of a life insurance policy is paid.

Which of the following makes up 35% of your credit score?

Some states have minimum wage laws that set a higher rate than the federal rate.

Rule of Thumb: Your total student loan debt should not exceed your expected ___ after graduating college.

The same protections given to credit card users for fraud are also extended to debit card users.

Taxes and payments for other items are subtracted from gross pay to calculate net pay.