EDMENTUM PERSONAL
FINANCE COURSE EXAM
Which would you need in the event of professional mishaps?
A. insurance
B. trusts
C. power of attorney
D. will - ANSWERS-A. insurance
What are the four major components of a will?
A. proposal, directives, power of attorney, trusts
B. statement, clauses, executor, amendments
C. principle, conditions, beneficiary, notary
D. purpose, considerations, executor, codicil - ANSWERS-D.
purpose, considerations, executor, codicil
Which characteristic describes the privatization of Social Security?
A. increases the employer's contribution to Social Security
B. raises the retirement age to claim full benefits to 70
C. enables Americans to invest their Social Security contributions in
the stock market
D. reduces benefits across the board by 13 percent
E. obtains a loan from the Fed - ANSWERS-C. enables Americans to
invest their Social Security contributions in the stock market
,When will the Social Security fund dry up at its current level?
A. 2022
B. 2027
C. 2042
D. 2097
E. 2117 - ANSWERS-C. 2042
What benefit does the PPO provide? Select all that apply.
covers out of network doctors and specialists
freedom to see more doctors
requires referrals
provides primary care physician
only covers in network providers - ANSWERS-Covers out of network
doctors and specialists; and
freedom to see more doctors
Conrad is an architect who has just been sued because a building he
helped design has collapsed and injured several people. What type of
insurance would help him with court costs and settlements.
A. legal malpractice
B. universal
C. medical malpractice
D. general liability
, E. catastrophic - ANSWERS-D. general liability
What is the economic term used for sustained increase in the price of
goods and services?
A. inflation
B. depression
C. recession
D. deflation - ANSWERS-A. inflation
What is Nick causing?
Nick has set up his steel factory near a community lake. The waste
from his factory is directly thrown in the lake and is causing the death
of the fishes in the lake. This is an example of a negative _______. -
ANSWERS-externality
There are many food carts near Mark's university. Mark and his
friends regularly buy hot dogs from Jeff's cart. Recently, Andrea
opened a business selling two-for-one hamburgers near Jeff's cart.
What will be the effect on Jeff's hot dog cart?
A. demand for his hot dogs will increase
B. supply of for his hot dogs will decrease
C. supply of his hot dogs will increase
D. demand for his hotdogs will decrease - ANSWERS-D.
demand for his hotdogs will decrease
FINANCE COURSE EXAM
Which would you need in the event of professional mishaps?
A. insurance
B. trusts
C. power of attorney
D. will - ANSWERS-A. insurance
What are the four major components of a will?
A. proposal, directives, power of attorney, trusts
B. statement, clauses, executor, amendments
C. principle, conditions, beneficiary, notary
D. purpose, considerations, executor, codicil - ANSWERS-D.
purpose, considerations, executor, codicil
Which characteristic describes the privatization of Social Security?
A. increases the employer's contribution to Social Security
B. raises the retirement age to claim full benefits to 70
C. enables Americans to invest their Social Security contributions in
the stock market
D. reduces benefits across the board by 13 percent
E. obtains a loan from the Fed - ANSWERS-C. enables Americans to
invest their Social Security contributions in the stock market
,When will the Social Security fund dry up at its current level?
A. 2022
B. 2027
C. 2042
D. 2097
E. 2117 - ANSWERS-C. 2042
What benefit does the PPO provide? Select all that apply.
covers out of network doctors and specialists
freedom to see more doctors
requires referrals
provides primary care physician
only covers in network providers - ANSWERS-Covers out of network
doctors and specialists; and
freedom to see more doctors
Conrad is an architect who has just been sued because a building he
helped design has collapsed and injured several people. What type of
insurance would help him with court costs and settlements.
A. legal malpractice
B. universal
C. medical malpractice
D. general liability
, E. catastrophic - ANSWERS-D. general liability
What is the economic term used for sustained increase in the price of
goods and services?
A. inflation
B. depression
C. recession
D. deflation - ANSWERS-A. inflation
What is Nick causing?
Nick has set up his steel factory near a community lake. The waste
from his factory is directly thrown in the lake and is causing the death
of the fishes in the lake. This is an example of a negative _______. -
ANSWERS-externality
There are many food carts near Mark's university. Mark and his
friends regularly buy hot dogs from Jeff's cart. Recently, Andrea
opened a business selling two-for-one hamburgers near Jeff's cart.
What will be the effect on Jeff's hot dog cart?
A. demand for his hot dogs will increase
B. supply of for his hot dogs will decrease
C. supply of his hot dogs will increase
D. demand for his hotdogs will decrease - ANSWERS-D.
demand for his hotdogs will decrease
