____ 1. An owner’s claim to the assets of a business is called owner’s ____.

____ 2. When accountants record business transactions, they use a system called ____.

____ 3. An income statement has all the following sections EXCEPT ____.

____ 4. Which term refers to the amount of revenue that remains after expenses for the period are subtracted?

____ 5. On a balance sheet, the balance in Accounts Payable decreases when ____.

____ 6. Which cost does physician expense coverage usually meet?

____ 7. A provision that requires a policyholder to pay all costs up to a certain amount after which the insurance company pays 100 percent of the remaining is called ____.

____ 8. Policyholders are paid in cash under ____.

____ 9. Private companies offer ____.

____ 10. Worker’s compensation is available only to workers who ____.

____ 11. A person joins an insurance company by purchasing a contract called a ____.

____ 12. In insurance, anything that may possibly cause a loss is known as a ____.

____ 13. Buying an insurance policy is an example of risk ____.

____ 14. Which term refers to loss in value as an item gets older?

____ 15. Collision insurance covers ____.

____ 16. A driver’s insurance premium rates will probably increase if he or she ____.

____ 17. Some states collect a personal property tax on ____.

____ 18. Earned income includes ____.

____ 19. Which amounts are NOT included in your gross income?

____ 20. Earnings on a traditional IRA are ____.

____ 21. A person must use Form 1040 if he or she ____.

____ 22. An apartment building is considered ____.

____ 23. The value of a real estate investment may decrease if ____.

____ 24. In the year 2000, an ounce of gold was worth ____.

____ 25. Precious gems are rated for all the following characteristics EXCEPT ____.

____ 26. An advantage of using the Internet for adding to a collection is ____.

____ 27. Stock that has steady earnings and continues paying dividends even during economic declines is known as ____.

____ 28. Most over-the-counter stock is traded through ____.

____ 29. Renting is often a wise choice for someone who wants ____.

____ 30. Your biggest monthly expense as a tenant is the ____.

____ 31. The listing price is the amount that the ____.

____ 32. A lender may ask a buyer to deposit money in an escrow account for paying ____.

____ 33. the percentage of the medical expenses the policyholder must pay in addition to the deductible

____ 34. a rider to a life insurance policy that pays twice the value of the policy if the policyholder is killed in an accident

____ 35. a permanent policy for which the policyholder pays a specified premium for the rest of his or her life

____ 36. a statewide organization that provides benefits for surgical and medical services performed by physicians

____ 37. directly employs or contracts with selected physicians and other medical professionals to provide health care services in exchange for a fixed, prepaid monthly premium

____ 38. a medical assistance program offered to certain low-income individuals and families

____ 39. a person named to receive the benefits from an insurance policy

____ 40. combines features of HMOs and PPOs

____ 41. provides regular cash income when a person is unable to work because of pregnancy, non work-related accident, or illness

____ 42. provides coverage for a specific period of time and pays an agreed-upon sum of money to the policyholder if he or she is still living at the end of the period

____ 43. covers the damage or loss of a specific valuable item

____ 44. an insurance payment based on what the item costs to replace minus depreciation

____ 45. applies to the medical expenses of anyone who is injured in the insured’s automobile, including the insured

____ 46. the failure to take ordinary or reasonable care to prevent accidents from happening

____ 47. a request for insurance payment to cover a financial loss

____ 48. an amount of income that is not included in a person’s gross income

____ 49. the amount of income on which a person’s income tax is computed

____ 50. a tax collected on the property left by a person in his or her will

____ 51. to take out Social Security and income tax payments from an employee's paycheck and send it to the Internal Revenue Service

____ 52. income minus reductions such as contributions to an IRA or student loan interest

____ 53. any expense a person is allowed to subtract from his or her adjusted gross income to arrive at his or her taxable income

____ 54. a deduction from a person’s adjusted gross income for himself or herself, a spouse, and qualified dependents

____ 55. a tax collected on the value of a person’s property at the time of his or her death

____ 56. determines whether a person has paid too much or too little in income taxes over the year

____ 57. the total amount of taxes a person owes

____ 58. an investment that works like a mutual fund but invests in real estate or mortgage loans

____ 59. an association of investors organized as a corporation, trust, or limited partnership

____ 60. the use of borrowed funds for investment purposes

____ 61. rough mineral deposits that are dug from the earth and shaped into brilliant jewels

62. If you could choose just one rider to your life insurance policy, which would it be—a waiver of disability benefit, an accidental death benefit, or a guaranteed insurability option? Explain your answer.