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Final Exam Review 4-6 Flashcards | StudBud
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Final Exam Review 4-6
Final Exam Review 4-6
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Answers
1
Price that a car dealer is asking for a car:
MSRP
Sticker Price
Base Price
True Market Value
2
What are the TWO ways to make money in the stock market?
Capital Loss
Divident Payments
Capital Gains
Buy high, sell low
3
All of these are ways to build good credit EXCEPT
Put a telphone bill in your name
Open a savings and or checking account and deposit money
Open mutiple credit cards and max them out
Paying your bills on time
4
The amount of money you pay monthly in return for insurance coverage
Deductible
Policy
Premium
Claim
5
Which is the riskiest type of investment?
Bonds
Money Market Account
Single Stock
Mutual Fund
6
This type of coverage covers injury to other people in an accident that is your fault
Collision
Liability - Property Damage
Comprehensive Physical Damage
Liability - Bodily Injury
7
What is NOT a 3 C of credit
Capital
Capacity
Credientials
Character
8
All of these are factors to consider when choosing a credit card EXCEPT
Annual Fee
Design on the card
Rewards
Annual Percentage Rate (APR)
9
With insurance, as your premium increases, your deductible:
Decreases
Increases
Changes each month
Stays the same
10
An advantage of this investment is the automatic diversification it provides:
Mutual Fund
Money Market Account
Single Stock
Bonds
11
Your WITHDRAWALS on this type of retirement account are tax FREE:
Roth IRA
401(K)
403(b)
Traditional IRA
12
Credit bureaus decide if you will receive a loan or not
False
True
13
If you BUY 10 shares of stock for $10 each and SELL them for $5 each, your gain/loss is:
$100 loss
$50 gain
$50 loss
$100 gain
14
The picture shows what in regards to a loan:
Amount of principal paid decreases over time
Amount of principal paid increases over time
Principal and interest remains the same over time
15
Money paid to a landlord at the beginning of a lease to cover damages by the tenant
Mortgage
Rent
Security Deposit
Lease
16
This type of coverage covers damage to your own vehicle in an accident
Collision
Comprehensive Physical Damage
Liability - Bodily Injury
Liability - Property Damage
17
How long does bankruptcy stay on your record?
15 years
7 years
10 years
20 years
18
When should you start investing?
As soon as possible
When you have kids
When you get married
When you are ready to retire
19
This type of account locks up your money for a specific time period for higher interest:
Money Market Account
Certificate of Deposit (CD)
Checking Account
Traditional Savings Account
20
Which is NOT an advantage of owning a home
Ability to easily move
Ability to change the home as you wish
Tax Advantage
Investment Opportunity
