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EverFi Module 6: Your Financial Future Exam/17 Complete Questions with answers
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EverFi Module 6: Your Financial Future Exam/17 Complete Questions with answers
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EverFi Module 6: Your Financial FutureExam/17 Complete Questions with
answers
Premium - -The amount you pay the insurance company for coverage, typically paid each month -Deductible - -The amount of money you will pay on an insurance claim before insurance coverage begins to pay you -Copay - -A fixed fee you pay for specific medical service -Coinsurance - -Money that a person is required to pay for services after a deductible has been paid -Liability insurance - -A type of car insurance that covers any damage caused to another person or their vehicle; it is required in Illinois -Collision Insurance - -A type of car insurance that covers vehicle damage caused by an accident -Comprehensive insurance - -A type of car insurance that covers vehicle damage caused by the non-collision event, such as storm damage or theft -Uninsured Motorist insurance - -Part of a car insurance policy that helps pay for your medical bills or car repairs if you're hit by a driver who doesn't have car insurance. -401(k) - -A retirement account offered through an employer where an employee can contribute money from his or her paycheck before or after taxes. -403(b) - -A retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers -IRA - -For savers that offer tax savings but has contribution limits and withdrawal restrictions. -Risk - -The possibility you'll lose money if an investment you make provides a disappointing return. -Return - -How much money you could potentially earn from an investment and it is usually expressed as a percentage
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