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1. With an ownership investment, investors do which of the following:

2. The amount of interest you earn in a typical savings account is about:

3. Compounding can be described as:

4. If you are 17 right now, what is the best age to begin investing?

5. For an investment to yield positive results at the end of the investment period, the earnings should:

6. A formal legal agreement between a lender and a borrower usually includes a:

7. Who is legally responsible for repaying a bank loan if the loan borrower fails to make payments as indicated in the loan contract?

8. What kind of insurance protects you from loss if you let someone drive your car and that person has an accident?

9. Chloe is preparing her income tax return for the first time. She is a receptionist, does not own any land or real estate, and has not inherited any money from a deceased relative within the last tax year. She will only be taxed on:

10. Governments pay for public services such as police protection, road repairs, and public education by:

11. One of the benefits to some individuals of using Form 1040 to file their personal income tax is that this form enables them to:

12. When preparing a personal income tax form, parents report some of their childcare expenses to receive:

13. The apartment building you live in has been destroyed by a tornado. What insurance would cover your belongings?

14. Your car has been stolen. What insurance coverage would you need to have to get a replacement car?

15. The car you are driving causes an accident that injures someone riding in your car. What insurance would cover your passenger’s injuries?

16. You get food poisoning from the local carnival and are sick all night.

17. You are injured in an accident and are unable to work for 2 months. What insurance would help supplement your income during that time?

18. Your garage was destroyed by a fire started by a lightning bolt hitting your home. What insurance would repair your garage?

19. While driving to the mall, you are pulled over and receive a speeding ticket. What insurance would cover this?

20. While driving, you have brake failure. You hit a telephone pole and cause damage to the front of the car. What insurance coverage would you need to get your car repaired?

21. A mother, who is financially responsible for her young children, dies from an undetected heart defect. What insurance could she have purchased to help support her children after her death?

22. A doctor diagnoses a child with tonsillitis during a visit to a clinic. What insurance would be used?

23. You hit someone else’s car and damage it, so you need to pay for their car’s repairs.

24. You cause a vehicle accident in your car and receive an injury. What insurance would cover your injury?

25. Your car is totaled in an accident caused by someone without liability insurance. What, if any, insurance can you purchase to insure yourself against this?

26. Someone breaks into your apartment and steals your television. What insurance coverage would replace your television?

27. Your friend is injured while riding in your car when you collide with a tree. What insurance would pay for your friend’s injury? What insurance would pay for your vehicle repairs?

28. The person who hit you does not have enough insurance for your medical bills. Is there any insurance you can purchase to insure yourself against this?

29. An unexpected death of a family member results in funeral expenses. What insurance could help with this?

30. You cause an accident and injure the driver and passenger of the other vehicle. What insurance do you have that will pay for their medical bills?

Answer :

1- With an ownership investment, investors purchase assets such as stocks, real estate, or businesses, with the expectation of receiving a return on their investment through capital gains or income generated by the asset.

2-The amount of interest earned on a typical savings account can vary, but it is generally low, often around 0.01% to 0.05% per year.

3-Compounding refers to the process of reinvesting earnings generated by an investment back into the investment, allowing the investment to grow at an increasing rate over time.

4-The best age to begin investing depends on an individual's financial situation and goals. Generally, the earlier an individual starts investing, the more time they have to benefit from the power of compounding and potential market gains. However, it is important to also prioritize building an emergency fund and paying off high-interest debt before investing.

5- For an investment to yield positive results at the end of the investment period, the earnings from the investment should exceed the initial investment amount and any associated fees or expenses.

6- A formal legal agreement between a lender and a borrower usually includes a loan contract that outlines the terms and conditions of the loan, such as the loan amount, interest rate, repayment schedule, and any fees or penalties.

7- The borrower is legally responsible for repaying a bank loan, even if they fail to make payments as indicated in the loan contract. This may result in legal action, such as wage garnishment or asset seizure.

8- Liability insurance typically protects the policyholder from financial loss if someone is injured or their property is damaged as a result of the policyholder's actions, such as letting someone drive their car.

9- Chloe may be taxed on her income from her job as a receptionist, including wages, tips, and bonuses. She may also be eligible for certain tax credits or deductions.

10-Governments typically pay for public services through taxes, such as income taxes, sales taxes, and property taxes.

11- One benefit of using Form 1040 to file personal income tax is that it allows individuals to claim various deductions and tax credits that may reduce their tax liability.

12- When preparing a personal income tax form, parents may report some of their childcare expenses in order to receive certain tax credits, such as the Child and Dependent Care Credit.

13- Renters insurance typically covers a policyholder's personal belongings in the event of damage or loss due to a covered peril, such as a tornado.

14- If the policyholder has comprehensive or collision insurance, it may cover the cost of replacing their stolen car.

16- Personal injury protection (PIP) or medical payments coverage may cover a passenger's injuries resulting from an accident in the policyholder's car.

17- Medical insurance may cover the cost of treatment for food poisoning.

18- Disability insurance may help supplement an individual's income if they are unable to work due to injury or illness.

19- Homeowner's insurance may cover the cost of repairing or rebuilding a garage that was damaged or destroyed due to a covered peril, such as a fire caused by lightning.

20- Auto insurance may cover the cost of a speeding ticket, but this would depend on the specific terms of the policy.

21- Collision insurance may cover the cost of repairing the car after an accident caused by brake failure.

22- Life insurance may provide financial support for a policyholder's dependents in the event of their death.

23- Health insurance may cover the cost of treatment for tonsillitis.

24- The policyholder's liability insurance may cover the cost of the other driver's car repairs.

25- Personal injury protection (PIP) or medical payments coverage may cover the policyholder's injury resulting from an accident in their car.

26- Uninsured motorist coverage may provide coverage for the

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