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A Quote is an estimate of what premium you would pay for a certain insurance coverage plan

• True

• False

Life insurance is insurance paid to named beneficiaries when the insured person dies

• True

• False

FSA/Flexible Spending Account is an account set up through an employer to cover health costs with pretax dollars that has very little or no rollover from year to year.

• True

• False

Liability Coverage is auto insurance that protects you against costs to repair or replace your vehicle after events out of your control such as weather, vandalism, theft, etc.

• True

• False

Extended Warranty is an additional form of protection that can be purchased to extend/enhance a manufacturer's warranty on consumer goods, like phones and electronics

• True

• False

Deductible is the lowest amount of auto insurance coverage one can have to be legally allowed to drive in each state

• True

• False

Federal Deposit Insurance Corporation (FDIC) is the U.S. corporation insuring deposits in US banks against bank failure

• True

• False

Out of Pocket Maximum is the maximum amount of money you will have to spend on health care in a year, after which the insurance company agrees to cover all costs

• True

• False

HSA/Health maintenance organization is a health insurance plan in which patients receive health care from designated providers.

• True

• False

HSA/Health savings account is an account where you contribute pre-tax dollars for expected medical expenses

• True

• False