An __________ company, or insurer, is a risk-sharing firm that assumes financial responsibility for losses from the insured in exchange for a fee.
Answer: insurance
Showing posts with label Personal Finance. Show all posts
Showing posts with label Personal Finance. Show all posts
There are two basic types of life insurance: term and cash value.
There are two basic types of life insurance: term and cash value.
Answer: true
Insurance should not be used to smooth out all the little bumps of life.
Insurance should not be used to smooth out all the little bumps of life.
Answer: true
A desirable health insurance plan should cover:
A desirable health insurance plan should cover:
Answer: At least 80% of out-of-hospital expenses and not impose any unreasonable exclusion
Health insurance should be part of very few people's overall risk management plan to safeguard their and their family's economic security.
Health insurance should be part of very few people's overall risk management plan to safeguard their and their family's economic security.
Answer: false
Insurance companies pay a lot of attention to the relationship between risk and cost.
Insurance companies pay a lot of attention to the relationship between risk and cost.
Answer: true
Unlike renter's insurance, homeowner's insurance covers personal property, provides liability protection, and pays for other expenses.
Unlike renter's insurance, homeowner's insurance covers personal property, provides liability protection, and pays for other expenses.
Answer: false
Very few states require drivers to carry some minimum level of automobile insurance.
Very few states require drivers to carry some minimum level of automobile insurance.
Answer: false
Ignoring the effect taxes have on spending choices very often leads to making poor decisions.
Ignoring the effect taxes have on spending choices very often leads to making poor decisions.
Answer: true
People work in a __________ world, but live and play in a post-tax world.
People work in a __________ world, but live and play in a post-tax world.
Answer: pre-tax
For the average wage earner about one-third of each marginal dollar in earned income goes toward taxes.
For the average wage earner about one-third of each marginal dollar in earned income goes toward taxes.
Answer: true
People work in a pre-tax world, but live and play in a post-tax world.
People work in a pre-tax world, but live and play in a post-tax world.
Answer: true
The government taxes:
The government taxes:
Answer: A,B, and C are correct
It is important for taxpayers to understand the difference between tax ________ and tax deductions if they want to pay minimum income taxes.
It is important for taxpayers to understand the difference between tax ________ and tax deductions if they want to pay minimum income taxes.
Answer: credits
The old argument that a tax refund is like having a built-in savings plan is a very good argument as there are no better ways to save.
The old argument that a tax refund is like having a built-in savings plan is a very good argument as there are no better ways to save.
Answer: false
Excise taxes are usually paid on:
Excise taxes are usually paid on:
Answer: purchases
Although rarely thought of this way, for most people their tax burden is actually their largest annual household expense.
Although rarely thought of this way, for most people their tax burden is actually their largest annual household expense.
Answer: true
Understanding the affect taxes have on purchasing decisions is not important to reaching personal financial goals in as short a time as possible.
Understanding the affect taxes have on purchasing decisions is not important to reaching personal financial goals in as short a time as possible.
Answer: false
Taxes are never difficult and confusing.
Taxes are never difficult and confusing.
Answer: false
The main reason to understand the impact of taxes is to:
The main reason to understand the impact of taxes is to:
Answer: Reach one's financial goals in as short a time as possible
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