Budget or

1
Budget or Bust
Banking Basics
Property Protection

Risky Business
Grab Bag
Know That Term
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2
What do we call something you OWE? Examples
Credit card balance, car loan, home loan 10
Liability

3
True or False Our financial resources are
limited, but our needs and wants are unlimited
and growing 20
TRUE
4
List at least 2 fixed expenses 30
rent or mortgage, car payment
5
How do you compute your net worth? (using the
terms assets and liabilities) 40
assets - liabilities net worth
6
What kind of adjustments can you make if your
budget does not balance 50

• increase income (2nd job)
• adjust savings
• lower expenses

7
Self-insuring is an example of which type of the
4 risk strategies we discussed? 10
risk assumption (assuming risk)
8
Buying insurance is an example of which of the 4
risk strategies we discussed? 20
risk transfer (transferring risk)
9
What is the process of identifying your risks and
deciding how serious they are? 30
Assessing Risk
10
A person suing you and possibly winning a large
judgment against you that affects your future
assets is an example of which of the 3 types of
consumer risk we discussed? 40
risk of financial resources
11
If a visiting guest is injured inside a tenants
apartment, who is liable or responsible for the
injuries? 50
the tenant (renter)
12
True or False A demand deposit account is when
the account holder may withdraw money on demand
or write checks on the account at any time? 10
TRUE Examples Checking, Savings, Money Market
13
What organization insures the deposits in the
banks, giving us confidence to use the banks in
the U.S. financial system? 20
FDIC
14
What kind of endorsement creates a third-party
(a.k.a. two-party) check 30
special endorsement pay to the order of
15
When reconciling a bank statement, what do you do
with the amount of outstanding checks? (add or
subtract and from which balance?) 40
deducted from the bank statement balance
16
Which of the following would be an adjustment to
the checkbook register balance during a bank
reconciliation? 50

1. outstanding checks
2. bank service charge
3. deposits in transit

17
Which of the following are not covered by a
regular homeowners or renters policy? 10

1. fire damage
2. vandalism
3. damage from a hurricane
4. theft

18
What type of insurance coverage protects against
damage to your own vehicle when you are at fault
hitting another car? 20
collision coverage
19
What type of insurance coverage protects against
a tree falling on your car while parked? 30
comprehensive coverage
20
What type of insurance coverage protects against
another persons medical bills or property when
you are at fault in an auto accident? 40
liability coverage
21
What kind of insurance also protects your
personal property while it is in your car or at
work? 50
Renters or homeowners insurance protects your
personal property
22
True or False A deductible is the price you pay
for insurance coverage 10
FALSE a premium is the price you pay
for insurance
23
With Health insurance, what is the amount you
must pay toward medical expenses before your
insurance begins to kick in? 20
deductible
24
What is it called when you set aside a fixed
amount of savings on a regular basis over
time? 30
an annuity
25
True or False A Managed Care plan is a PPO or
HMO where healthcare patients choose doctors and
other providers from an approved list of
in-network providers 40
TRUE
26
What provision means that once you have incurred
deductibles and copays up to a certain amount in
a year, the insurance company will then pay 100
of expenses 50
Stop-loss provision it limits the amount YOU
have to pay out
27
Who is the person listed as the recipient of a
Life Insurance policy? 10
beneficiary
28
TRUE or FALSE a U.S. Savings bond is sold at a a
discount and grows to its face value over
time? 20
TRUE
29
What type of insurance coverage provides
protection for you against damages from a
motorist who is at fault but failed to carry auto
insurance? 30
Uninsured/Underinsured Motorist
30
If I stopped waterskiing after I had a bad fall
and was fearful of injuring myself, I would be
practicing what type of risk management
strategy? 40
avoiding risk
31
What are at least 2 of your consumer
responsibilities when having a checking
account? 50
manage your account avoid writing bad checks,
keep a check register, reconcile your bank
statement, know your rights
32
Final Jeopardy Name at least 2 ways you can be
prepared in case you need to file a claim for the
loss of property due to theft or fire

• make a home inventory list
• make a panoramic video of your property
• keep important receipts in a safe place