Question 1

If you could choose just one financial tool to help you avoid damaging financial decisions, which of the following do you think would be most effective?

Accepted Answer

A balanced budget that you track and update regularly.

Question 2

David wants to change his daily habit of buying a $5 coffee and save more money. Which of the following should he do?

Accepted Answer

Identify what triggers his habit and what reward he is trying to satisfy.

Question 3

Yvonne buys gloves that cost $10.00. At the register, she must pay $10.80. What type of tax did Yvonne pay?

Accepted Answer

Sales Tax

Question 4

Sasha bought a townhouse last year. She just got a tax bill from the county showing the value of her house and the amount of tax she owes. What kind of tax does Sasha owe?

Accepted Answer

Property Tax

Question 5

Bigmart sells boots that are made in China and boots made in the United States. Bigmart must pay 27% tax on each pair made in China, but not on the U.S.-made pairs. What type of tax is Bigmart paying on each pair of boots made in China?

Accepted Answer

Tariff

Question 6

State citizens voted to add a 75-cent tax to each pack of cigarettes to pay for programs to help people quit smoking. What type of tax is added to each pack of cigarettes?

Accepted Answer

Excise Tax

Question 7

Jake got his paycheck today. He worked 40 hours at $20 per hour. His gross pay was $800, but the amount of his paycheck was only $623.15. What type of tax was taken from Jake's paycheck?

Accepted Answer

Income/Social Security/Medicare Tax

Question 8

Clyde Cash owned two houses, three office buildings, a Bugatti Veyron, antiques, stocks, and a jet, all worth $25 million. He passed away. His heirs owe the government $9 million in taxes. What kind of taxes do his heirs owe?

Accepted Answer

Estate Tax

Question 9

When do you start paying taxes?

Accepted Answer

When you make more than the minimum income requirement.

Question 10

Why is it important to be extremely careful when completing your 1040 form?

Accepted Answer

The 1040 form determines whether you owe additional taxes or are entitled to receive a refund from the government.

Question 11

Which of the statements below is true about filing your taxes, assuming your only income comes from the salary you earn at your job?

Accepted Answer

You must file your tax return by April 15th of the following year or request an extension by that date.

Question 12

You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for federal and state income taxes?

Accepted Answer

W-4

Question 13

The United States has a ___ tax system, meaning the more income you have, the higher the tax rate you pay.

Accepted Answer

progressive

Question 14

they hired a ___ to remodel the kitchen

Accepted Answer

contractor

Question 15

she has been ___ 20 dollars from her paycheck every week for the last four years.

Accepted Answer

withholding

Question 16

it is common for an ___ to be imposed on a number of goods

Accepted Answer

excise

Question 17

he inherited the ___ from his parents after their passing.

Accepted Answer

estate

Question 18

How often do customers typically receive a bank statement for their checking account?

Accepted Answer

Monthly

Question 19

On this day, you have $10 in your account and go out and use your debit card to buy lunch for $12, a movie ticket for $12, and dinner for $15. What is likely to be the outcome resulting from these transactions?

Accepted Answer

You will likely be charged an overdraft fee for one or more of the transactions and also will need to repay the bank for the amount overdrawn ($29).

Question 20

You are at the checkout counter at the local supermarket and use your debit card to pay for your groceries. Where does the money for this purchase come from?

Accepted Answer

It is deducted directly from your checking account.

Question 21

Which of the following is true about checking accounts?

Accepted Answer

Banks can change the fee policies as long as they put the changes in writing and notify you.

Question 22

your paycheck will automatically ___ into your account on the 10th of each month.

Accepted Answer

deposit

Question 23

Through hard work and ____ our father was able to raise the money to put all four of us through college.

Accepted Answer

thrift

Question 24

The teacher keeps a ____ of tissues in her desk in case anyone needs one.

Accepted Answer

stash1

Question 25

these accounts have low monthly maintenance fees and no ___ fees.

Accepted Answer

overdraft

Question 26

He will have to take out a ___ in order to buy the house.

Accepted Answer

mortgage

Question 27

A clearly written financial goal would be

Accepted Answer

"To establish an emergency fund of $4,000 in 18 months."

Question 28

An example of a long-term goal would be

Accepted Answer

Saving for retirement

Question 29

Which of these costs would be the most difficult to adjust if you were looking to reduce your expenses?

Accepted Answer

Loan payment on a new car.

Question 30

An example of a fixed expense is

Accepted Answer

Auto insurance

Question 31

This is commonly considered a flexible expense.

Accepted Answer

Entertainment

Question 32

Aaron realizes he has a budget deficit of roughly $175 at the end of two months in a row. Which of these options makes the most sense for him to fix his problem?

Accepted Answer

Cancel his cable TV subscription and go out to dinner three fewer times each month with friends.

Question 33

You're considering moving into a 3 bedroom apartment with 2 roommates, rather than living on your own post-college. Which of your expenses would likely decrease by having roommates?

Accepted Answer

Rent

Question 34

Which of the following is a bad budgeting strategy to use if you want to save money at the grocery store?

Accepted Answer

When comparing similar products, focus on the price only.

Question 35

You overhear your cousin talking about the importance of creating and sticking to a budget. Which of the following reasons he gives below is actually false?

Accepted Answer

Using a budget can qualify you for special discounts at your favorite stores.

Question 36

entertainment of $200, food expense of $250, cable bill of $75, mobile phone of $100, student loan payment of $400 and other expense of $150. How would you describe your budget after analyzing all of your income and expenses?

Accepted Answer

You have a deficit of $125.

Question 37

Which of the following is a sign that you have a budget deficit?

Accepted Answer

You overdraw your checking account on a consistent basis (with a $34 cost per overdraft).

Question 38

Just like the medieval castle, the ____ serves to protect those inside the fortress and their riches from outsiders.

Accepted Answer

moat

Question 39

Those seeking the services of the famous attorney will ___ the legal fees that come with those services.

Accepted Answer

incur

Question 40

optimists ___ an immediate upswing in business as soon as vaccines are administered.

Accepted Answer

forecase

Question 41

a common government practice to help reduce the budget ___ is to raise taxes

Accepted Answer

deficit

Question 42

during the recession, there was a ___ of workers and not enough jobs.

Accepted Answer

surplus

Question 43

Which of the following statements comparing credit and debit cards is true?

Accepted Answer

With debit cards, you're spending your own money at point of sale, while with credit cards, you're promising to pay back the money eventually.

Question 44

Which of the following statements is true?

Accepted Answer

If the cardholder pays $523.00 by the due date on the bill, she will pay no interest to the credit card company.

Question 45

Which of these credit payback strategies would lead to the highest interest charges?

Accepted Answer

Making the minimum payment of 3% of your credit card balance every month with an occasional late payment.

Question 46

Reading through a credit card disclosure, you see the APR for a specific card is set at 9.99%-23.99%. Which statement is true?

Accepted Answer

Your APR will be within that range, depending on the strength of your credit history.

Question 47

Credit card disclosure: "Your due date is at least 25 days after the end of the billing cycle. We will not charge you interest on new purchases provided that you have paid your previous balance in full by the due date each month."

Accepted Answer

The 25 days after the end of the billing cycle is referred to as the grace period.

Question 48

The shorter your term length, the _____ your monthly payments, and the _____ the total interest you will pay.

Accepted Answer

higher, lower

Question 49

Which of the following is true about fixed and adjustable-rate mortgages?

Accepted Answer

Adjustable-rate mortgages have a fixed interest rate for a short period, but then the interest rate fluctuates, which can lead to higher or lower interest rates for the homeowner.

Question 50

What are the two most important factors in calculating your credit score?

Accepted Answer

Payment history and amounts owed.

Question 51

Melvin is 19 years old and wants to begin establishing a credit history. Which action should he take to meet that goal?

Accepted Answer

Ask his parents to cosign a credit card or add him as an authorized user on their credit card.

Question 52

Frank and Jasmere are both shopping for a new car. They are looking for a $20,000 loan to pay for the new car that they will pay back over a five year period. Which of the following statements is true?

Accepted Answer

Jasmere's monthly payment on the loan will be about $100 more than Frank's payment.

Question 53

I forgot to pay my credit card bill one month. For how long will that payment information show up on my credit report?

Accepted Answer

Seven years

Question 54

You have a credit card and want to know the best way to use it to boost your credit score. Which step will have the greatest impact?

Accepted Answer

Using less than 30% of the credit limit on your card and paying it off in full every month by the due date.

Question 55

Which of the following could have a negative impact on your credit score?

Accepted Answer

Applying for multiple credit cards in a short period of time (e.g., a week)

Question 56

How can your credit score impact your financial situation?

Accepted Answer

Your credit score can determine whether you are approved for a loan and what the interest rate on that loan will be.

Question 57

You find an error on your credit report: your credit card account indicates that you are 60 days late on your payment but you have bank records indicating that you have always made on-time payments. What should you do first?

Accepted Answer

Contact the credit card company to have them fix it.

Question 58

What is the best advice to prevent identity theft?

Accepted Answer

Be careful with your credit and bank account numbers, create strong passwords, and beware of phishing emails.

Question 59

Which of these represents a potential consequence of neglecting to pay your credit card or loan debts?

Accepted Answer

Wages or tax refunds can be garnished.

Question 60

As a young adult, all of the following are good strategies for building credit, except

Accepted Answer

Open a checking account, and start using a debit card.

Question 61

Some companies ___ tax refunds or paychecks, put a lien on properties and bank accounts or even take claimants to court who do not pay their bills.

Accepted Answer

garnish

Question 62

The ___ effects of the drug are too severe to allow it to be marketed

Accepted Answer

adverse

Question 63

the park was overgrown and littered from years of ___

Accepted Answer

neglect

Question 64

in the desert, temperatures are known to ___ dramatically.

Accepted Answer

fluctuate

Question	Answer
If you could choose just one financial tool to help you avoid damaging financial decisions, which of the following do you think would be most effective?	A balanced budget that you track and update regularly.
David wants to change his daily habit of buying a $5 coffee and save more money. Which of the following should he do?	Identify what triggers his habit and what reward he is trying to satisfy.
Yvonne buys gloves that cost $10.00. At the register, she must pay $10.80. What type of tax did Yvonne pay?	Sales Tax
Sasha bought a townhouse last year. She just got a tax bill from the county showing the value of her house and the amount of tax she owes. What kind of tax does Sasha owe?	Property Tax
Bigmart sells boots that are made in China and boots made in the United States. Bigmart must pay 27% tax on each pair made in China, but not on the U.S.-made pairs. What type of tax is Bigmart paying on each pair of boots made in China?	Tariff
State citizens voted to add a 75-cent tax to each pack of cigarettes to pay for programs to help people quit smoking. What type of tax is added to each pack of cigarettes?	Excise Tax
Jake got his paycheck today. He worked 40 hours at $20 per hour. His gross pay was $800, but the amount of his paycheck was only $623.15. What type of tax was taken from Jake's paycheck?	Income/Social Security/Medicare Tax
Clyde Cash owned two houses, three office buildings, a Bugatti Veyron, antiques, stocks, and a jet, all worth $25 million. He passed away. His heirs owe the government $9 million in taxes. What kind of taxes do his heirs owe?	Estate Tax
When do you start paying taxes?	When you make more than the minimum income requirement.
Why is it important to be extremely careful when completing your 1040 form?	The 1040 form determines whether you owe additional taxes or are entitled to receive a refund from the government.
Which of the statements below is true about filing your taxes, assuming your only income comes from the salary you earn at your job?	You must file your tax return by April 15th of the following year or request an extension by that date.
You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for federal and state income taxes?	W-4
The United States has a ___ tax system, meaning the more income you have, the higher the tax rate you pay.	progressive
they hired a ___ to remodel the kitchen	contractor
she has been ___ 20 dollars from her paycheck every week for the last four years.	withholding
it is common for an ___ to be imposed on a number of goods	excise
he inherited the ___ from his parents after their passing.	estate
How often do customers typically receive a bank statement for their checking account?	Monthly
On this day, you have $10 in your account and go out and use your debit card to buy lunch for $12, a movie ticket for $12, and dinner for $15. What is likely to be the outcome resulting from these transactions?	You will likely be charged an overdraft fee for one or more of the transactions and also will need to repay the bank for the amount overdrawn ($29).
You are at the checkout counter at the local supermarket and use your debit card to pay for your groceries. Where does the money for this purchase come from?	It is deducted directly from your checking account.
Which of the following is true about checking accounts?	Banks can change the fee policies as long as they put the changes in writing and notify you.
your paycheck will automatically ___ into your account on the 10th of each month.	deposit
Through hard work and ____ our father was able to raise the money to put all four of us through college.	thrift
The teacher keeps a ____ of tissues in her desk in case anyone needs one.	stash1
these accounts have low monthly maintenance fees and no ___ fees.	overdraft
He will have to take out a ___ in order to buy the house.	mortgage
A clearly written financial goal would be	"To establish an emergency fund of $4,000 in 18 months."
An example of a long-term goal would be	Saving for retirement
Which of these costs would be the most difficult to adjust if you were looking to reduce your expenses?	Loan payment on a new car.
An example of a fixed expense is	Auto insurance
This is commonly considered a flexible expense.	Entertainment
Aaron realizes he has a budget deficit of roughly $175 at the end of two months in a row. Which of these options makes the most sense for him to fix his problem?	Cancel his cable TV subscription and go out to dinner three fewer times each month with friends.
You're considering moving into a 3 bedroom apartment with 2 roommates, rather than living on your own post-college. Which of your expenses would likely decrease by having roommates?	Rent
Which of the following is a bad budgeting strategy to use if you want to save money at the grocery store?	When comparing similar products, focus on the price only.
You overhear your cousin talking about the importance of creating and sticking to a budget. Which of the following reasons he gives below is actually false?	Using a budget can qualify you for special discounts at your favorite stores.
entertainment of $200, food expense of $250, cable bill of $75, mobile phone of $100, student loan payment of $400 and other expense of $150. How would you describe your budget after analyzing all of your income and expenses?	You have a deficit of $125.
Which of the following is a sign that you have a budget deficit?	You overdraw your checking account on a consistent basis (with a $34 cost per overdraft).
Just like the medieval castle, the ____ serves to protect those inside the fortress and their riches from outsiders.	moat
Those seeking the services of the famous attorney will ___ the legal fees that come with those services.	incur
optimists ___ an immediate upswing in business as soon as vaccines are administered.	forecase
a common government practice to help reduce the budget ___ is to raise taxes	deficit
during the recession, there was a ___ of workers and not enough jobs.	surplus
Which of the following statements comparing credit and debit cards is true?	With debit cards, you're spending your own money at point of sale, while with credit cards, you're promising to pay back the money eventually.
Which of the following statements is true?	If the cardholder pays $523.00 by the due date on the bill, she will pay no interest to the credit card company.
Which of these credit payback strategies would lead to the highest interest charges?	Making the minimum payment of 3% of your credit card balance every month with an occasional late payment.
Reading through a credit card disclosure, you see the APR for a specific card is set at 9.99%-23.99%. Which statement is true?	Your APR will be within that range, depending on the strength of your credit history.
Credit card disclosure: "Your due date is at least 25 days after the end of the billing cycle. We will not charge you interest on new purchases provided that you have paid your previous balance in full by the due date each month."	The 25 days after the end of the billing cycle is referred to as the grace period.
The shorter your term length, the _____ your monthly payments, and the _____ the total interest you will pay.	higher, lower
Which of the following is true about fixed and adjustable-rate mortgages?	Adjustable-rate mortgages have a fixed interest rate for a short period, but then the interest rate fluctuates, which can lead to higher or lower interest rates for the homeowner.
What are the two most important factors in calculating your credit score?	Payment history and amounts owed.
Melvin is 19 years old and wants to begin establishing a credit history. Which action should he take to meet that goal?	Ask his parents to cosign a credit card or add him as an authorized user on their credit card.
Frank and Jasmere are both shopping for a new car. They are looking for a $20,000 loan to pay for the new car that they will pay back over a five year period. Which of the following statements is true?	Jasmere's monthly payment on the loan will be about $100 more than Frank's payment.
I forgot to pay my credit card bill one month. For how long will that payment information show up on my credit report?	Seven years
You have a credit card and want to know the best way to use it to boost your credit score. Which step will have the greatest impact?	Using less than 30% of the credit limit on your card and paying it off in full every month by the due date.
Which of the following could have a negative impact on your credit score?	Applying for multiple credit cards in a short period of time (e.g., a week)
How can your credit score impact your financial situation?	Your credit score can determine whether you are approved for a loan and what the interest rate on that loan will be.
You find an error on your credit report: your credit card account indicates that you are 60 days late on your payment but you have bank records indicating that you have always made on-time payments. What should you do first?	Contact the credit card company to have them fix it.
What is the best advice to prevent identity theft?	Be careful with your credit and bank account numbers, create strong passwords, and beware of phishing emails.
Which of these represents a potential consequence of neglecting to pay your credit card or loan debts?	Wages or tax refunds can be garnished.
As a young adult, all of the following are good strategies for building credit, except	Open a checking account, and start using a debit card.
Some companies ___ tax refunds or paychecks, put a lien on properties and bank accounts or even take claimants to court who do not pay their bills.	garnish
The ___ effects of the drug are too severe to allow it to be marketed	adverse
the park was overgrown and littered from years of ___	neglect
in the desert, temperatures are known to ___ dramatically.	fluctuate
further ___ showed that he had visited the city twice before.	inquiry
What is the definition of interest on debt?	A fee you pay to your lender in exchange for the right to use the borrowed funds.
Which of the following could be considered good debt?	Student loan
How could you determine whether your debt load is more than you can afford?	Calculate your debt-to-income ratio.
How do you calculate net worth?	Assets minus liabilities.
After bankruptcy, which one of the following is a way you can rebuild your financial credibility?	Obtain a secured credit card account.
Why do so many people continue to use payday loans despite the financial risk?	Consumers need quick access to money that is not provided by other financial institutions.
Which of these represents a potential consequence of neglecting to pay your credit card or loan debts?	Wages or tax refunds can be garnished.
Which statement best describes why payday loans are sometimes referred to as "predatory lending?"	Lenders "prey" on low-income borrowers who have little to no other options for obtaining a loan.
Which of these statements best explains why it's often a good idea to pay more than the monthly amount due on an amortized loan?	The extra payment will be applied to the principal amount you owe, which will pay down your debt more quickly.
When loans are amortized, monthly payments are _____. while the interest portion of the monthly payment ______ and the principal portion of the monthly payment _______ over time.	Constant, Decreases, Increases
Which of the following statements is correct about secured loans?	They require collateral, in the form of assets like a car or a home, to be exchanged for the loan.
Which best describes the Debt Snowball method for paying off debt?	Make the monthly minimum payments on all your debts and put any extra cash toward the debt with the lowest balance.
You're paying your credit card bill and your student loan payment each month, but you're falling behind on your auto loan payment. Which friend's advice could have a negative impact on your credit score?	Debbie says, "Stop making the credit card payment for a few months until you're caught up on the auto loan."
If you are having trouble making auto loan payments, and are really following a tight budget, which recommendation below represents the worst advice?	Stop making payments on some of your debts so you can focus on getting the most expensive or largest debts under control.
What is one benefit of selecting an income-based repayment plan for your student loans?	Your monthly loan payment will be set based on your income, so that you're not paying more than 20% of income toward your loans.
the company has had a successful year and hopes to maintain its ___ by introducing new products.	momentum
the ___ acts as a form of protection for the lender in case the borrower defaults on their loan payments	collateral
the words has a negatives ___ and is generally directed at women	connotation
without a car, living close to work is a ___	necessity
the company made millions for investors but clearly engaged in ___ lending practices	predatory
Security breaches are easier to address with which payment form?	Credit card
What is the best advice to prevent identity theft?	Be careful with your credit and bank account numbers, create strong passwords, and beware of phishing emails.
Which of the following is not an example of safe Internet use?	Archive credit card information in your email.
Which of the following best describes what Two Factor Authentication (2FA) is?	You type in your account password on your laptop and are prompted to enter a one-time code you receive via text message.
Nancy wants to take steps to better protect her personal information. Which of the following is a bad idea?	She creates one really strong password that no one knows and uses it for all of her financial accounts.
How frequently can you request a free copy of your credit reports?	Once every 12 months
All of the following are appropriate agencies to contact in the case of identity theft except	Your local news outlet
A minor may request a copy of his or her credit report after what age?	14
Zach is worried about identity theft and comes to you to clarify a few pieces of information. Which of Zach's statements is false?	"I'm under the age of 18 and don't make a lot of money, so I am not a likely target for identity theft."
Which statement below offers the best advice for keeping your online or mobile banking secure?	Don't choose easy-to-remember passwords such as welcome or your first name.
If you think you've been the victim of a fraud or scam, which of the following is the best first step?	Review your statements, online account, or credit report to locate suspicious activity. Call the company to report problems as soon as you see them.
As Andre reviews his credit card statement, he sees a charge at a gas station, a Walmart, and a McDonalds in Topeka, Kansas, for a total of $55. He lives in Atlanta and hasn't left the state in three years. What should he do?	Call the credit card company immediately and tell them he'd like to dispute the charges.
we tried to make him ___ the name of the winner, but he wouldn't budge.	divulge
giving users a way to prove they are being harassed with, say, a screenshot or some other form of ___ could help catch the bad actors on twitter.	authentication
they spent hours working on the computer so they could ___ secrets from his hard drive.	glean
make sure you buy your used car from a ___ dealer.	reputable
your email address could also be used to send ___ to hackers and scammers without your knowledge	spam
What is true about savings accounts?	They allow you to deposit and withdraw funds.
You deposit $1,000 into a 2 year Certificate of Deposit (CD), which earns 2% interest per year. During those 2 years, the inflation rate runs 3% per year. Which statement is accurate regarding what you can purchase at the end of the CD's term?	You have less purchasing power because the inflation rate is greater than the interest you are earning.
You invest $1,000 in a stock market index fund that earns 8% compounded over a 10 year period (a simplified example since stock market returns vary year to year). How much would your investment be worth after this 10 year period?	More than $2,000
You bought 10 shares of stock in StreamingVideoCo for $45 per share. Two months later you sold the ten shares of stock for $80 per share. What was your profit or loss on StreamingVideoCo stock?	Gain of $350
What is the percentage return on your investment? You bought 10 shares of BigBlueCo for $100/share and later sold all of your shares for $80/share.	-20%
Maxwell, who is 25, asks a bunch of his friends for investing advice. Which of the following is the best advice?	Avoid investing in a single company's stock; you need to diversify your portfolio.
Which statement below is most accurate about how emotions factor into investment decisions?	Since the emotional pain of losing money is so great, many investors respond to drops in the stock market by selling their shares.
Which of the statements below best describes the relationship between risk and return when considering an investment?	Investors expect to earn a lower return when they invest in a low risk asset like a U.S. Treasury Bond.
This history of bitcoin has been defined by constant but decreasing ___	volatility
it is recommended by many to ___ your investments because it will reduce the volatility of your portfolio over time.	diversify
your collection of financial investments like stocks, bonds, commodities, cash and mutual funds make up your ___	portfolio
when that goes away, all __ prices are going to go down.	asset
th ___ in the stock market, you are buying shares of a company in hopes that the shares will rise in price so you can later sell them for a profit	speculate
can be useful for people who have a history of frequent visits to repair shops or vets. For folks who do not often need these services, which of the following options is the best alternative to these types of insurance plans?	Setting aside the monthly premium amount into a savings account as an emergency fund.
Uma's renters insurance policy has a premium of $15/month, a deductible of $1000, of $40,000. Her apartment is burglarized and $5,600 of possessions are stolen or destroyed. How much will Uma pay in order to replace her stuff?	$1,000
If you feel your insurance company is not upholding your policy correctly and you can't resolve it directly with the company, you will likely have the most success by contacting	Your state's Department of Insurance or Insurance Bureau
All of the following represent a compelling reason to pay a higher insurance premium except	You will receive a higher level of customer service and better care.
Going to an in-network doctor is a good idea, because	You will save on overall costs when compared to seeing an out-of-network doctor.
How is long-term disability insurance different from health insurance?	Health insurance only covers the cost of healing the injury/illness, while long term disability covers a percentage of your income while you are away from work due to the injury/illness.
If someone gets health insurance through Medicaid, that means	Their premium is likely covered by the Federal and/or state government.
Margaret opened her mail this morning and is shocked to see her total hospital bill for her recent injury. She's worried she can't afford to pay this bill. What is the best thing she can do?	Negotiate a repayment plan in which she can pay the bill back in installments.
What is one difference between HSA and an FSA?	FSA funds must be used up annually, while HSA funds can accumulate year over year.
Which of the following statements about opting into your employer sponsored healthcare plan vs. getting an individual healthcare plan is true?	An employer sponsored healthcare plan means that your employer likely pays the majority of your premium.
Each of the following factors affect your monthly auto insurance premium except	Your local auto shop's customer service reviews.
Chris was not paying attention to the flow of traffic and rear-ended the car in front of him. Both cars have damage, but he doesn't have car insurance. What will most likely happen?	Chris will have to pay out-of-pocket for auto repair and possible medical bills for the person he hit.
After getting into a car accident, you should immediately	Move you and your car to a safe area if possible and check to see if anyone is hurt.
Which of the following auto insurance coverages are you required to carry in 49 out of 50 states?	Liability
You let your friend Yousef borrow your car for the weekend while his is in the shop. He turned on a "No Right on Red" and hit another car. What will happen since Yousef was at-fault?	Because you own the car, you can be held responsible for the accident that he caused.
If your car is broken into and you have to get new windows, what kind of coverage must you have in order for the insurance company to cover the cost of repairs?	Comprehensive
It's a good idea to have renters insurance in case	A guest is injured while inside your apartment.
What are the average monthly costs for homeowners and renters insurance across the US?	Homeowners= $100, Renters= $15
What is the difference between a declaration page and an agreement when referring to your homeowners insurance policy?	The declaration page outlines the premiums, deductibles, and coverage limits, while the agreement provides details on exact coverage.
A standard homeowners policy will include all of these coverage bundles except	Earthquake and flood
the course offers a ___ overview of european history since the french revolution	comprehensive
the monthly ___ for your health insurance is deducted from your pay	premium
An example of a long-term goal would be	Saving for retirement
Which of these costs would be the most difficult to adjust if you were looking to reduce your expenses?	Loan payment on a new car.
An example of a fixed expense is	Auto insurance
This is commonly considered a flexible expense.	Entertainment
The shorter your term length, the _____ your monthly payments, and the _____ the total interest you will pay.	higher, lower
Which of the following is true about fixed and adjustable-rate mortgages?	Adjustable-rate mortgages have a fixed interest rate for a short period, but then the interest rate fluctuates, which can lead to higher or lower interest rates for the homeowner.
Why do so many people continue to use payday loans despite the financial risk?	Consumers need quick access to money that is not provided by other financial institutions.
Which of these represents a potential consequence of neglecting to pay your credit card or loan debts?	Wages or tax refunds can be garnished.
Which statement best describes why payday loans are sometimes referred to as "predatory lending?"	Lenders "prey" on low-income borrowers who have little to no other options for obtaining a loan.
Which of the following is not an example of safe Internet use?	Archive credit card information in your email.
Which of the following best describes what Two Factor Authentication (2FA) is?	You type in your account password on your laptop and are prompted to enter a one-time code you receive via text message.
Nancy wants to take steps to better protect her personal information. Which of the following is a bad idea?	She creates one really strong password that no one knows and uses it for all of her financial accounts.
You deposit $1,000 into a 2 year Certificate of Deposit (CD), which earns 2% interest per year. During those 2 years, the inflation rate runs 3% per year. Which statement is accurate regarding what you can purchase at the end of the CD's term?	You have less purchasing power because the inflation rate is greater than the interest you are earning.

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