Personal Finance – Unit Test

Government regulations on credit aim to
Which statement best describes a college education? The student pays for it, and it is required in many professions.
Martin receives an e-mail about a money-making opportunity from a sender who asks for his bank account number. The best way to avoid having his identity stolen is to contact the police and file a phishing report.
Which of these are ways that identity theft can happen? Check all that apply. by forgeryby phishingby fraud
It typically takes about _____ to get a degree in vocational school. two years
Why do some lenders require borrowers to secure credit? to prevent defaults
Wages earned over the course of a year are a worker’s _____. salary
Interest paid on a loan is calculated as a percentage of the principal
Which statement best describes the role of a credit agency? It tracks the use of credit for lenders.
What do borrowers use to secure a mortgage loan? Check all that apply. a credit carda down paymenta house
Which statement about tuition is the most accurate? Public colleges are cheaper for in-state residents.
Which statement best describes what happens when people declare bankruptcy? All of their debts are eliminated, but they have to sell their assets, such as their homes.
To create a balanced budget, one must make sure to pay off debts first.
Which of these is the best reason for Nina to maintain up-to-date and accurate records of her bank accounts? to know how much money she has for budgeting
Which explains a difference between income and taxable income? Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses.
Sofia has saved $10,000. She wants to be sure that she is earning interest on her money and can add to her savings. She also wants to be able to access her money if the need should arise.Which type of account is most suitable for Sofia’s needs? a money market account
The graph compares the cost of living in three different cities.Which statement best explains this graph? San Francisco has the highest cost of living of the three cities.
Under which circumstance would someone need disability insurance? A person was in a car accident and cannot work for several months.
The image shows Alex’s investments in one year.Investments during One YearWhat does the information demonstrate about Alex’s investments? He most likely would have benefited by diversifying.
A down payment is an upfront payment of _____ to make a purchase. cash
Look at this monthly budget.Monthly BudgetNext month, Tokuji’s monthly net income will increase to $650. If he increases his savings to $110 a month, how much can he increase his discretionary spending? $20
Which are costs of a college education? Check all that apply. tuitionbooks and feesroom and board
What is the definition of liquidity? how difficult it is to maximize returns on investments
Which describes a type of tax that funds city programs? local income tax
Which statements apply to leasing a car? Check all that apply. There are mileage restrictions on the car.You must return the car after the lease ends.There are penalties for ending the lease early.
I got a 64% so 9 of these are wrong please double check

Leave a Reply

Your email address will not be published. Required fields are marked *