Section 6 Study Questions (9.0 points) 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 possibility for profit or gain.
5. What is COBRA? (0.5 points) A federal government act that allows employees who lose their health insurance to continue participating in the insurance plan for a specific amount of time. 6. What is an insurance claim?
4. Give at least two examples of types of state taxes. (1.0 points) a) State income taxes b) Transaction taxes 5. What is a pay stub? (0.5 points) A pay stub is a record of the hours you’ve worked or your salary an vacation times and then also your final pay.
Section 2 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is renting? (0.5 points) is when you pay to use something that belongs to someone else 2.
Name __David Crisp______4/15/2015____________________________Section 5 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is credit? (0.5 points) Credit is commitment to pay for something in the future, instead of paying for it right away.
What is a credit score? (0.5 points) A number assigned to a person that indicates to lenders their capacity to repay a loan. 3. What is installment credit? (0.5 points) Traditional consumer loans, originated and serviced locally, and repaid over time by regular payments of principal and interest.
Section 1 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. Name at least two things financial planning could help you do. (0.5 points) Create a budget.
Section 4 Study Questions (12.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is a money market account? (0.5 points) A money market account invests your money in low risk investments with predictable interest rates.
This part works with private insurance companies. This part covers the prescription – drug plan; Medicare covers up to 75 % of drug cost if they exceed a certain amount. Medicaid is a Federal and State funded program each state may have different qualification standards for who is eligible ; this program covers the poor and penniless , pregnant women on public assistance , low income seniors and young adults that are SSI recipients who are blind and or disabled. This plan also cover beneficiaries who
d. List at least four operating costs your business might have. (1.0 points) Rent Utilities Inventory Payroll e. Consider the industry of your company and the current economy, and then explain how these factors might impact your company’s sales. If you do not think these factors would impact your sales, explain why they wouldn't. (2-4 sentences. 2.0 points) f. If you had $5,000 to start this company, which department would get the most funding?