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FoundationsU
FoundationsU certification Exam
Questions with Correct Verified
Solutions 100% Guaranteed Pass
(Latest Update)
1. The knowledge and skill set necessary to be an informed consumer
and manage finances effectively - ANS ✓Financial literacy
2. A system by which goods and services are produced and distributed -
ANS ✓Economy
3. The biggest difference between a debit card and a credit card is - ANS
✓A debit card only allows you to use money you have in the bank; a credit
card does not
4. Which statement is true about diversification when it comes to
investing? - ANS ✓Diversification lowers risk
5. Which of the following types of investment carries the greatest risk? -
ANS ✓Stocks
6. The FICO score is a(n) - ANS ✓"I love debt" score
FoundationsU certification
, 2
FoundationsU
7. A savings account established for large purchases; used to save for
large purchases, in advance of the purchase, over time - ANS ✓Sinking
fund
8. A federal insurance program funded by taxpayer dollars that
provides benefits to people who are retired, unemployed or disabled
- ANS ✓Social Security
9. Responsible banking includes all of the following except - ANS
✓Overdraft protection using your bank-issued credit card
10. When buying a house, you should save up at least a ____% down
payment and never take out more than a ____-year fixed-rate
mortgage. - ANS ✓10, 15
11. Five hundred dollars in readily available cash to be used only in
the event of an unexpected expense - ANS ✓Emergency fund
12. The offer of "easy financing" is often used by companies as a -
ANS ✓Marketing tool
13. A retirement savings plan offered by a corporation to its
employees - ANS ✓401(k)
14. This component of auto insurance covers medical costs and
property damage of the other driver if you get in a wreck and you are
at fault - ANS ✓Liability
15. Whether you are interested in scholarships, grants, loans, or
other financial aid, you'll need to complete this form each year you
are in college - ANS ✓FAFSA
FoundationsU certification
FoundationsU
FoundationsU certification Exam
Questions with Correct Verified
Solutions 100% Guaranteed Pass
(Latest Update)
1. The knowledge and skill set necessary to be an informed consumer
and manage finances effectively - ANS ✓Financial literacy
2. A system by which goods and services are produced and distributed -
ANS ✓Economy
3. The biggest difference between a debit card and a credit card is - ANS
✓A debit card only allows you to use money you have in the bank; a credit
card does not
4. Which statement is true about diversification when it comes to
investing? - ANS ✓Diversification lowers risk
5. Which of the following types of investment carries the greatest risk? -
ANS ✓Stocks
6. The FICO score is a(n) - ANS ✓"I love debt" score
FoundationsU certification
, 2
FoundationsU
7. A savings account established for large purchases; used to save for
large purchases, in advance of the purchase, over time - ANS ✓Sinking
fund
8. A federal insurance program funded by taxpayer dollars that
provides benefits to people who are retired, unemployed or disabled
- ANS ✓Social Security
9. Responsible banking includes all of the following except - ANS
✓Overdraft protection using your bank-issued credit card
10. When buying a house, you should save up at least a ____% down
payment and never take out more than a ____-year fixed-rate
mortgage. - ANS ✓10, 15
11. Five hundred dollars in readily available cash to be used only in
the event of an unexpected expense - ANS ✓Emergency fund
12. The offer of "easy financing" is often used by companies as a -
ANS ✓Marketing tool
13. A retirement savings plan offered by a corporation to its
employees - ANS ✓401(k)
14. This component of auto insurance covers medical costs and
property damage of the other driver if you get in a wreck and you are
at fault - ANS ✓Liability
15. Whether you are interested in scholarships, grants, loans, or
other financial aid, you'll need to complete this form each year you
are in college - ANS ✓FAFSA
FoundationsU certification
