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- 1. Multiple Choice
If Chris has car liability insurance, what damage would he be covered for?
Repairing damage to other cars if he got into an accident that was his fault
Repairing damage to his own car if he got into an accident that was his fault
Repairing damage to his own car that was caused by storms or theft
Repairing damage to his own car that was caused by another driver who does not have car insurance
- 2. Multiple Choice
What is a premium?
The amount you pay the insurance company for coverage.
The amount you are personally required to pay before your insurance covers the cost.
A fixed fee you pay for specific medical services.
The most you have to pay for health care in a full year.
- 3. Multiple Choice
What might be one reason why a stock becomes more valuable over time?
The industry is growing
The company is well-managed
There is a lot of demand for the product
All of the above
- 4. Multiple Choice
When deciding how to invest your money, which of the following is LEAST important to know?
Whether or not deposits can be made online
When you will need to use the money
The expect rate of return to use the money
How risky the investment is
- 5. Multiple Choice
______ are loans to a company or government for a set amount of time. They are considered low-risk investments.
Stocks
Bonds
Mutual funds
Deposits
- 6. Multiple Choice
In addition to paying $100 per month for health insurance, Janine is responsible for paying her first $500 medical bills every year before her insurance costs. The $500 Janine must pay is called the:
Premium
Deductible
Copay
Annual out-of-pocket maximum
- 7. Multiple Choice
A ______ is a small piece of ownership in a company.
Stock
Bond
Mutual Fund
Derivative
- 8. Multiple Choice
Someone is retiring next year. What would be an appropriate amount of risk to take with their investments?
Highest risk; highest growth
Medium risk; medium growth
Lower risk; lower growth
No risk. Just savings accounts
- 9. Multiple Choice
Over time the average rate of return on stocks is:
Less than 2%
3%
4%
More than 5%
- 10. Multiple Choice
Which of the following statements about health insurance is FALSE?
People use insurance to reduce their risk of having very large medical expenses.
Insurance plans with different premiums and deductibles let you decide how much financial loss you are willing to risk.
Paying for health insurance is always cheaper than paying for your own medical expenses.
None of the above.
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