ECO 110 UNIT 3 CHALLENGES AND MILESTONE
CHALLENGE 1
Leah uses online spreadsheets and investment portfolio management tools
to keep track of her different investments in various financial products.
Which skill does Leah use in the given scenario?
• a.)
The technology skill
• b.)
The agility skill
• c.)
The problem-solving skill
d.)
The productivity skill
Which of the following loan options provides better protection to
consumers and costs less in terms of interest?
a.)
A payday loan
• b.)
A title loan
B
c.
)
A loan from banks
d.)
A loan from pawn shops
Daniel urgently requires $500 because of a sudden leakage in the roof of
his house.
Which of the following would be a productive financial decision
for Daniel?
a.)
,ECO 110 UNIT 3 CHALLENGES AND MILESTONE
Daniel should get a payday loan to pay the repair bill.
b.
)
Daniel should get a line of credit to pay the repair bill.
• c.)
Daniel should declare his home as collateral and get a title loan to pay
the repair bill.
d.)
Daniel should get an installment loan to pay the repair bill
Which of the following is a feature of a direct unsubsidized loan?
a.)
The interest accrued on the loan amount is added to the loan balance
until the student can begin the repayment of the loan.
• b.)
Students need to show financial need to receive these loans.
• c.)
The interest accrued on the loan amount is paid by the federal
government.
d.)
It is a type of financial aid that is available only to undergraduate
students.
Naveen opts to buy a car. After doing his research, he identifies a vehicle
model suitable for him.
Keeping in mind the steps involved in purchasing a vehicle, what
should Naveen's next step be?
a.)
He should determine how much money he can spare every month to
spend on the car.
• b.)
, ECO 110 UNIT 3 CHALLENGES AND MILESTONE
He should analyze his transport needs and cost to determine if he
needs the car.
c.
)
He should contact his insurance company and figure out the cost to
insure the vehicle.
• d.)
He should identify a suitable auto loan.
Irfan commits to renting an apartment for one year, but he has to leave
after just 6 months due to a family emergency.
Which of the following is true based on Irfan's situation?
• a.)
He will have to pay his landlord a reletting fee to rent the apartment to
another tenant.
• b.)
He is entitled to receive his application deposit back from his landlord.
• c.)
He will have to pay city and state taxes on the house.
d.
)He will have to pay his landlord the closing costs on the apartment.
Whi h of the following will reimburse buyers if their home and
d cstbelongings
oyed or are
e r stolen?
a)
.Homeowner’s insurance
b.
) Title insurance
• c.)
CHALLENGE 1
Leah uses online spreadsheets and investment portfolio management tools
to keep track of her different investments in various financial products.
Which skill does Leah use in the given scenario?
• a.)
The technology skill
• b.)
The agility skill
• c.)
The problem-solving skill
d.)
The productivity skill
Which of the following loan options provides better protection to
consumers and costs less in terms of interest?
a.)
A payday loan
• b.)
A title loan
B
c.
)
A loan from banks
d.)
A loan from pawn shops
Daniel urgently requires $500 because of a sudden leakage in the roof of
his house.
Which of the following would be a productive financial decision
for Daniel?
a.)
,ECO 110 UNIT 3 CHALLENGES AND MILESTONE
Daniel should get a payday loan to pay the repair bill.
b.
)
Daniel should get a line of credit to pay the repair bill.
• c.)
Daniel should declare his home as collateral and get a title loan to pay
the repair bill.
d.)
Daniel should get an installment loan to pay the repair bill
Which of the following is a feature of a direct unsubsidized loan?
a.)
The interest accrued on the loan amount is added to the loan balance
until the student can begin the repayment of the loan.
• b.)
Students need to show financial need to receive these loans.
• c.)
The interest accrued on the loan amount is paid by the federal
government.
d.)
It is a type of financial aid that is available only to undergraduate
students.
Naveen opts to buy a car. After doing his research, he identifies a vehicle
model suitable for him.
Keeping in mind the steps involved in purchasing a vehicle, what
should Naveen's next step be?
a.)
He should determine how much money he can spare every month to
spend on the car.
• b.)
, ECO 110 UNIT 3 CHALLENGES AND MILESTONE
He should analyze his transport needs and cost to determine if he
needs the car.
c.
)
He should contact his insurance company and figure out the cost to
insure the vehicle.
• d.)
He should identify a suitable auto loan.
Irfan commits to renting an apartment for one year, but he has to leave
after just 6 months due to a family emergency.
Which of the following is true based on Irfan's situation?
• a.)
He will have to pay his landlord a reletting fee to rent the apartment to
another tenant.
• b.)
He is entitled to receive his application deposit back from his landlord.
• c.)
He will have to pay city and state taxes on the house.
d.
)He will have to pay his landlord the closing costs on the apartment.
Whi h of the following will reimburse buyers if their home and
d cstbelongings
oyed or are
e r stolen?
a)
.Homeowner’s insurance
b.
) Title insurance
• c.)
