Financial Literacy Intro

Question 1

Two important costs when it comes to insurance are the "premium" and the "deductible". Which the premium?

Accepted Answer

Amount paid to insurance company each month

Question 2

All states charge income tax?

Accepted Answer

False

Question 3

What would be considered a very good credit score?

Accepted Answer

750

Question 4

It is required for all people to have health insurance?

Accepted Answer

False

Question 5

What is a lease?

Accepted Answer

Legally binding agreement between landlord and tenant that protects both

Question 6

What should be included in your lease?

Accepted Answer

Rules related to property maintenance and repairs, The legal names of the landlord and all tenants, Rent, payment schedule, and payment method, Rules surrounding things like smoking and pets in the apartment

Question 7

What should you bring when applying for an apartment?

Accepted Answer

Social Security or other similar card, Drivers license/ID, Proof of Income, Money

Question 8

What is a credit score?

Accepted Answer

A measurement of how trustworthy someone is based on past financial activty

Question 9

What factors should you think about when choosing health insurance?

Accepted Answer

Your lifestyle and how risky it is, Your personal health, The cost, Your family situation and their health needs

Question 10

Now which is a deductible?

Accepted Answer

The amount YOU have to pay before your insurance kicks in

Question 11

What is income tax?

Accepted Answer

A portion of all of a person's earnings that is paid to the government

Question 12

What can you be doing NOW to decrease your student loans?

Accepted Answer

Getting good grades, Find jobs that pay for tuition, Studying for the SAT, Looking on CollegeBoard to find scholarships

Question 13

Which type of car insurance is most expensive?

Accepted Answer

Comprehensive

Question 14

Which of these expenses could be considered a want AND need in your budget?

Accepted Answer

phone, clothing, housing, food

Financial Literacy Intro

Questions 14

Financial Literacy Intro

Questions 14