Financial Literacy

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Gross pay is...

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The amount of pay you receive before taxes

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What is a copay?

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The amount of money you pay to a healthcare provider before your insurance takes the claim.

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True or False: Interest can both cost you money and/or earn you money

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True

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A type of auto insurance that protects against damages that aren't caused by a collision or crash is...

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Comprehensive Coverage

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Your credit score is important because...

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It is the number assigned to an individual that calculates your ability to use and pay back credit.

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Taxes are important because...

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Contributions made to state and federal government pay for things like public services and infrastructure, It provides Medicare or medical services to Americans after they retire, By participating in Social Security, we receive benefits that help support us after we retire.

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Personal Injury Protection is a type of add-on insurance that protects you in case...

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You have medical costs or lost wages after an accident because you are hurt

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Your minimum payment on a credit card is...

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Typically assessed monthly, the minimum amount you need to pay on a loan to keep it current and avoid negative effects on your credit report.

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A hard inquiry looks at your credit history, typically in advance of applying for a loan. Which of the following is not true of a hard inquiry? They can negatively impact your credit for 12 months, They remain on your credit history for two years, They can help your credit score

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They can help your credit score

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A 401(k) is...

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An employer-sponsored savings and investment plan that allows you to contribute some of your earnings to keep for retirement. Contributions are tax-deferred and your employer might choose to match contributions as a benefit of employment.