High School

In the space provided, write the word (or words) from the list that will best complete each statement.



- dependents

- work credits

- warranty

- beneficiary

- face value

- inflation

- disability insurance

- consumer fraud

- sales taxes

- recession

- application fees

- individual retirement account (IRA)



37. Smart shoppers learn to protect themselves from dishonest business practices, known as **consumer fraud**.



38. Weathering a period of **recession** can take careful planning and saving.



39. Banks usually charge **application fees** to people who want to take out loans.



40. Insurance benefits are paid to the **beneficiary**, who is usually the policyholder.



41. You must earn a certain number of **work credits** to get Social Security benefits.



42. **Sales taxes** are calculated as a percentage of the price of an item.



43. Government regulations require that a product's **warranty** be clearly worded and conveniently placed.



44. A period of rapid **inflation**, in which prices rise but not wages, can make sticking to your budget difficult.



45. Even if you are covered by a pension plan where you work, you can still contribute to your own **individual retirement account (IRA)**.



46. Your **disability insurance** pays you a percentage of your salary if you are unable to work.



47. Your **dependents** are people you support, such as children.



48. If you die, your dependents receive the **face value** of your term life insurance policy.



D. On a separate piece of paper, write a 100-word paragraph to answer each question.



49. Describe the types of automobile insurance available.



50. Describe how the Social Security system is funded and what benefits it provides, and explain why it is in trouble.

Answer :

Final answer:

Automobile insurance includes various types such as liability, collision, and comprehensive coverage. Each type serves a specific purpose, from covering damages to your vehicle in case of an accident to protecting against theft and injury. Knowing the differences helps drivers select the best coverage for their situation.


Explanation:

Types of Automobile Insurance Available

When considering automobile insurance, it's important to understand the various types available to protect yourself and your vehicle. Here are the main types:

  1. Liability Coverage: This is required by law in most states and covers damages to others if you are at fault in an accident. It includes bodily injury and property damage liability.
  2. Collision Coverage: This type pays for damage to your own vehicle resulting from a collision, regardless of fault.
  3. Comprehensive Coverage: This insurance covers non-collision-related incidents, such as theft, vandalism, or natural disasters.
  4. Personal Injury Protection (PIP): This coverage pays for medical expenses for you and your passengers regardless of fault, as well as lost wages.
  5. Uninsured/Underinsured Motorist Coverage: This protects you if you're in an accident with a driver who doesn't have insurance or enough coverage to pay for damages.

Understanding these different types of automobile insurance can help you make informed decisions to ensure you have the appropriate coverage for your needs.


Learn more about automobile insurance here:

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