PF Section 6 Study Questions

Satisfactory Essays
Personal Finance
Section 6: Study Questions
(9 points)
Name: keion harris
Instructions: Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is a pure risk? (0.5 points)-a risk of something negative happening with no chance of profit or gain 2. Why do people take speculative risks? (0.5 points)-some people want to make money in the stock market thats a risk but they never know when the stock market will go up or down 3. What is meeting the deductible? (0.5 points)-when you have paid the deductible amount and the insurance company has paid the rest or some 4. What does health insurance help to pay for? (0.5 points)-health insurance dentistry eye doctor etc 5. What is COBRA? (0.5 points)-a federal government act that allows employees who loose there health insurance to have it for a certaint amount of time . 6. What is an insurance claim? (0.5 points)-employee of an insurance company who is in charge of verifying insurance claims Lesson 2 (3.0 points) 1. Name at least two types of disability insurance. (1.0 points)-workers compensation and veterans benefits 2. What is life insurance? (0.5 points)-insurance is protection for your family against negative financial impact caused by your death 3. Which tax provides federal funding for unemployment insurance? (0.5 points)-federal enployment 4. What is liability insurance? (0.5 points)-helps you covering costs that your responsible for 5. What does property insurance cover? (0.5 points)-insurance that covers property you own or rent Lesson 3 (3.0 points) 1. What is identity theft? (0.5 points)-a form of steeling someones identity using their credit cards accesing their personal information 2. Give at least two examples of types of identity theft. (1.0 points)-financial and insurance and financial 3. Name at least one way to protect yourself from identity theft. (0.5 points)-have a secure account 4. What does the Gramm-Leach-Bliley

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