If a fire happens to someone's house, what type of insurance will pay for the damage most likely?
correct answers Home insurance
If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock?
correct answers Price of stock increases
Why is a stock characterized as a "growth" stock? correct answers The corporation is expected to
increase significantly in revenues and earnings.
An example of a long-term investment is: correct answers Investing in mutual funds
A person is using a $25 gift card for the first time. The balance left to use on the card is now $23.
What is the reason for the reduced available amount? correct answers Inactivity fee
T/F....Debit card puchases should be recorded in a checkbook register. correct answers True
Why does the government tax cigarettes? correct answers Increase revenue and stop people from
smoking
Roy Williams has $1,000 to invest. He is thinking that interest rates or rates of return will
increase during the year. What should he buy? correct answers He should buy a certificate of
deposit that is will mature either in 3 months, 6 months or a year.
When buying stock, what should you be aware of? correct answers if the price of the stock will
go up or down.
Why would people be warned against taking payday loans? correct answers People get trapped
into re-borrowing over and over again.
, What should be included when writing a will? correct answers Beneficiaries
What is a benefit of paying bills automatically from a bank account? correct answers Bills are
paid on time
What is the purpose of renters insurance? correct answers Protect property
As it relates to a budget, what is a surplus? correct answers Money that is left over once all
expenses are budgeted.
How can a person build wealth for the future? correct answers Put money into savings and invest
money
T/F....There is typically a fee for stop payments on checks. correct answers True
When looking at a credit report, how do you calculate what a person owes? correct answers
Looking at a credit report and giving what a person owes by adding the current balance on each
card.
This protects a person's bank accounts up to $250,000. correct answers FDIC
T/F...The type of car a person owns could determine the cost of auto insurance. correct answers
True
When is it usually a good time to borrow? correct answers When a person is looking to buy
something like a house because it could increase in value over time.
Bear market correct answers Extended period of uncertainty and pessimism when stock prices
fall.