Everfi Module 7 Insurance and Taxes Final Quiz Answers - Everfi Module 7 Questions and Answers

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Everfi Module 7 Insurance and Taxes Final Quiz Answers

Everfi Module 7 Insurance and Taxes Final Quiz Answers


Everfi Module 7 Insurance and Taxes Final Quiz Answers 2020

Question 1: Tax return forms must be submitted to the IRS and state governments usually by

  • April 15th - Answer
  • April 1st
  • May 1st
  • It varies for each person
Question 2: Use this tax return form if you don't have children, your filing status is single or married filing jointly, and your taxable income is less than $100,000.
  • 1040 - Answer
  • W-4
  • 1099
  • W-2

Question 3: In January, you will receive this form from each of your employers from the past year. It reports your total earnings and withholdings.
  • Form W-2 - Answer
  • Form W-4
  • Form 1099
  • 1040

Question 4: Before starting a new job, form you complete to determine how much tax your employer should withhold from your paycheck.
  • Form W-2
  • Form W-4 - Answer
  • Form 1099
  • 1040

Question 5: This type of insurance will cover the possessions inside your apartment in case of a fire, flood, or theft.
  • Renter's insurance - Answer
  • Liability insurance
  • Health insurance
  • Disability insurance
Question 6: This type of insurance helps cover the lost income if you are unable to work due to an injury or impairment.
  • Renter's insurance
  • Liability insurance
  • Health insurance
  • Disability insurance - Answer
Question 7 : This type of insurance covers the cost of medical bills, prescription medicine, doctor visits, and more.
  • Renter's insurance
  • Liability insurance
  • Health insurance - Answer
  • Disability insurance
Question 8: This type of insurance is required by law when you drive a car in case you are responsible for causing an accident.
  • Renter's insurance
  • Liability insurance - Answer
  • Health insurance
  • Disability insurance
Question 9: What type of person would typically have the LOWEST auto insurance premiums?
  • Young, inexperienced drivers
  • Higher-risk drivers
  • Older, experienced drivers - Answer
  • Drivers with children

Question 10: This type of tax is charged on the value of any land, buildings, or houses owned.
  • Income tax
  • Sales tax
  • Property tax - Answer
  • Capital gains tax

Question 11: This type of tax is charged as a percentage of the price of what you purchase.
  • Income tax
  • Sales tax - Answer
  • Property tax
  • Capital gains tax
Question 12: This type of tax is charged on the money you earn throughout the year.
  • Income tax - Answer
  • Sales tax
  • Property tax
  • Capital gains tax

Question 13: Which of the following are NOT deducted on a typical paystub?
  • Property tax - Answer
  • Federal and State income tax
  • Social security tax
  • Medicare tax
Question 14: Your auto insurance policy has a $200 monthly premium and $700 deductible. What is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs?
  • $700 - Answer
  • $500
  • $200
  • $900
  • claim
  • deductible
  • premium - Answer
  • co-pay
  • minimize monthly expenses
  • financially protect against unexpected accidents - Answer
  • reduce the chances of getting into an accident
  • cover all out-of-pocket costs
Question 17: In which of the following scenarios will you be entitled to pay the LEAST amount of money out-of-pocket for a medical expense?
  • You have health insurance with a $1,500 deductible. - Answer
  • You have auto insurance with a $700 deductible.
  • You have health insurance with a $500 deductible.
  • You have no insurance
  • Young, inexperienced drivers - Answer
  • Drivers who have safe driving records
  • Older, experienced drivers
  • Drivers who travel short distances
Question 19: The person who receives financial protection from a life insurance plan is called a:
  • Giver
  • Insured
  • Payer
  • Beneficiary - Answer

Everfi Module 7 Insurance and Taxes Final Quiz Answers 2020


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