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Financial Literacy Exam Review: Obama's Health Insurance Plan, Smart Goals, Investments, Insurance and Retirement

Prepare for a financial literacy final exam covering topics like payment under Obama’s health insurance, inflation, actuary roles, credit concepts, investment strategies, insurance agents, diversification, stockbrokers, market indexes, assets, liabilities, loans, and insurance coverage.

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Financial Literacy Exam Review: Obama's Health Insurance Plan, Smart Goals, Investments, Insurance and Retirement

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  1. Financial Literacy Final Exam Review

  2. Who pays for health insurance under Obama’s plan?

  3. Define inflation

  4. Define milestones

  5. What is an actuary?

  6. Goals include wants, needs, values and emotions

  7. SMART stands for

  8. What are the four C’s of credit?

  9. What does an insurance agent do?

  10. What are the best places to borrow money from college

  11. Define diversification and explain what a diversified investment looks like

  12. What does a stock broker do?

  13. Give an example of a high risk investment

  14. Give an example of a growth investment

  15. Give an example of an income investment

  16. What is a market index and name two indexes

  17. What is a dividend?

  18. Define dependent

  19. Define wealth building asset

  20. Assets – Liabilities = ??

  21. Give an example of a low-risk investment

  22. What is the purpose of a co-signer of a loan?

  23. What is a ticker symbol?

  24. What does a Beta number measure?

  25. Explain what happens in a stock split

  26. When reading a stock quote table, what does the close represent?

  27. What is a stock market exchange? Give three examples

  28. What is a mutual fund?

  29. What does cyclical stocks mean?

  30. What does insurance protect?

  31. What is an insurance premium?

  32. What is an insurance deductible?

  33. Who does redlining discriminate against?

  34. What effects the price of car insurance?

  35. What does comprehensive car insurance cover?

  36. What does Gap insurance cover?

  37. What does renters insurance cover?

  38. Describe how term life insurance work?

  39. Define empathy

  40. Explain different types of Health insurance and coverages

  41. Define and give examples of expenses

  42. A retirement plan sponsored by employers and allows workers to defer income tax is called

  43. Goal length:Short term goal = ___Mid term goal = ___Long term goal = ___

  44. A government sponsored plan that pays retirement benefits based on a worker’s earnings is called

  45. What is a living will?

  46. What does a power of attorney provide?

  47. Define liquidity

  48. Who determines the beneficiary of an insurance policy?

  49. What is the main purpose of a financial planner?

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