Aafcs 200 Composite Texes Questions With
Correct Answers
Pensions are funds paid to retired employees who paid into a pension fund while they
were employed.
Social Security -A federal program under the direction of the SS Administration. Designed
to give retired or disabled individuals some source of income.
-Benefits after paying into it as an employee.
Medicare Federal Program that helps older ppl (65+) in paying their medical bills.
Medicaid Designed by Federal Govt. as a state program to hep those who need and
qualify for medical assistance.
-nursing homes
-ppl with limitations in daily activities.
Medical Asepsis Means free from germs o bacteria that may cause infection.
Class A Fire Fire started with wood, paper, or trash
Class B Fire Fire started with gas, grease or other liquid
,Class C Fire Electircal fire
First Degree Burn Skin Reddened but unbroken
FA: Place under cold Water
Second Degree Burn Skin Reddened, blisters formed
FA: Place under cod water, cover with a dry sterie dressing.
Third Degree Burn Skin Partially destroyed
FA: Cover entire area with a dry sterile dressing.
Consumer Product Safety Commission -Charged to protect the consumers from
unreasonable risks associated with consumer products, to assist consumers in voluntary
comparative safety of consumer products and more.
-Regulates the production and sale of products that are potentially hazardous, sets safety
standards, can ban products that are deemed hazardous to consumers, can seize products from the
market.
Consumer Bill of Rights -The Right to Safety
-The Right to be Informed
-The Right to Choose
,-The Right to be Heard
Health Insurance Portability and Accountability (HIPAA) Creates national standards to
protect individuals medical records and other personal heath info.
Progressive Tax A tax that requires a larger fraction of income as that income increases.
Ex: Income Tax
Regressive Tax A tax requiring a smaller fraction of income increases, tax is measured
against what is spent.
Ex. Sales Tax
Proportional Tax A tax that requires the same fraction of income from tax payers of all
income levels.
Ex:
Bankruptcy -Chapter 13 = 7 years ; Chapter 7 = 10 years
- A federal court procedure that helps consumers and business get rid of their debt and repay their
creditors. "liquidation" or "reorganization"
Cash Card Any electronic payment card that stores cash fro various types of payments
Ex: Bank Debit Cards, prepaid debit cards, gift cards, and payroll cards
, Chamber of Commerce A local association to promote and protect the interests of the
business community in a particular place.
Better Business Bureau (BBB) -An organization focused on advancing marketplace trust.
-Using an accredited Business system they rank business, charities, and non-profits.
Federal Trade Comission (FTC) An agency whose basic responsibility is to help
consumers find needed information or locate the appropriate agency to assist them with their
problems.
Fair Credit Reporting Act (FACT ACT) Legislation giving consumers the right to know
what information consumer reporting about them to creditors, insurance companies, and
employers.
Duopoly A market situation in which 2 sellers dominate a specific market industry.
Monopoly One seer controls the supply of a product or service.
Oligopoly A situation in which few sellers (4 or less) control the majority of a supply or
service produced.
Small Claims Court A legal mechanism available in all states to solve legal problems
involving small sums of money.
Correct Answers
Pensions are funds paid to retired employees who paid into a pension fund while they
were employed.
Social Security -A federal program under the direction of the SS Administration. Designed
to give retired or disabled individuals some source of income.
-Benefits after paying into it as an employee.
Medicare Federal Program that helps older ppl (65+) in paying their medical bills.
Medicaid Designed by Federal Govt. as a state program to hep those who need and
qualify for medical assistance.
-nursing homes
-ppl with limitations in daily activities.
Medical Asepsis Means free from germs o bacteria that may cause infection.
Class A Fire Fire started with wood, paper, or trash
Class B Fire Fire started with gas, grease or other liquid
,Class C Fire Electircal fire
First Degree Burn Skin Reddened but unbroken
FA: Place under cold Water
Second Degree Burn Skin Reddened, blisters formed
FA: Place under cod water, cover with a dry sterie dressing.
Third Degree Burn Skin Partially destroyed
FA: Cover entire area with a dry sterile dressing.
Consumer Product Safety Commission -Charged to protect the consumers from
unreasonable risks associated with consumer products, to assist consumers in voluntary
comparative safety of consumer products and more.
-Regulates the production and sale of products that are potentially hazardous, sets safety
standards, can ban products that are deemed hazardous to consumers, can seize products from the
market.
Consumer Bill of Rights -The Right to Safety
-The Right to be Informed
-The Right to Choose
,-The Right to be Heard
Health Insurance Portability and Accountability (HIPAA) Creates national standards to
protect individuals medical records and other personal heath info.
Progressive Tax A tax that requires a larger fraction of income as that income increases.
Ex: Income Tax
Regressive Tax A tax requiring a smaller fraction of income increases, tax is measured
against what is spent.
Ex. Sales Tax
Proportional Tax A tax that requires the same fraction of income from tax payers of all
income levels.
Ex:
Bankruptcy -Chapter 13 = 7 years ; Chapter 7 = 10 years
- A federal court procedure that helps consumers and business get rid of their debt and repay their
creditors. "liquidation" or "reorganization"
Cash Card Any electronic payment card that stores cash fro various types of payments
Ex: Bank Debit Cards, prepaid debit cards, gift cards, and payroll cards
, Chamber of Commerce A local association to promote and protect the interests of the
business community in a particular place.
Better Business Bureau (BBB) -An organization focused on advancing marketplace trust.
-Using an accredited Business system they rank business, charities, and non-profits.
Federal Trade Comission (FTC) An agency whose basic responsibility is to help
consumers find needed information or locate the appropriate agency to assist them with their
problems.
Fair Credit Reporting Act (FACT ACT) Legislation giving consumers the right to know
what information consumer reporting about them to creditors, insurance companies, and
employers.
Duopoly A market situation in which 2 sellers dominate a specific market industry.
Monopoly One seer controls the supply of a product or service.
Oligopoly A situation in which few sellers (4 or less) control the majority of a supply or
service produced.
Small Claims Court A legal mechanism available in all states to solve legal problems
involving small sums of money.
