HT Financial Literacy Final Exam Review 2021 #2

What is the minimum a person should contribute to their 401k?

Insurance deductibles are set by:

Most health care plans will pay for cosmetic surgeries.

Who or what establishes the beneficiary of a life insurance policy?

Crytocurrencies such as Bitcoin pay dividends or interest similar to stocks.

Consumers should always make quick decisions about financial matters.

The purpose of the IRS is to:

A person's health insurance is most often obtained through their

You should tailor your resume to the job for which are applying.

Which is not an advantage of a 401k?

If a stock splits 2 for 1 and you own 100 shares, how many will own after the split?

How can you avoid paying interest fees on your credit card?

A define contribution plan for employees of companies that operate for a profit.

Type of stock that consistently pays dividends to stock holders. Used to supplement income.

I suffer injuries that require medical treatment. Which insurance?

A negative item may show up on your credit report for 7 years.

Also known as a wage and tax statement and is used to complete tax returns.

Which of the following are forms of taxable income?

I run off the road and damage a person's fence- which insurance?

A prolonged period of falling stock prices.

Debit cards have the same protections as credit cards.

A scam that uses an email message to get a person to give out personal information.

Stocks of large, well established corporations.

Due to the passage of the Affordable Care Act children may stay on their parents health insurance until they are:

Which of the following items are used when considering a person compentent to sign a contract

All individuals will pay the same rate regardless of their driving record.

Which of the following will give you the investor a better picture on how the stock market performed that day?

Over 50% of jobs are never posted and filled by individuals with inside information.

A person's age, investment goals,income and comfort level all play into determining their risk tolerance

A key to successful investing is to:

Which insurance?  My car is damaged by a hailstorm.

A net worth statement is most commonly used:

The Widget Corporation announces a 2 for 1 stock split and you own 100 shares that are valued at $50 per share. Describe

"If you aren't willing to own stock for 10 years, don't even think about owning it for 10 minutes", describes what?

One advantage of mutual funds is diversification.

Website where you can receive your free credit reports.

When a company first goes public it is referred to as an:

Most experts agree that young investors should have this type of IRA or 401k

Early withdrawal penalties are charged against CD's for withdrawals prior to the maturity date.

What are the payment options in regards to a revolving credit account?

A prolonged period of rising stock prices.

Poor credit will result in the which of the following?

Typically who or what sets the credit limit on your credit card.

If you go outside of your PPO network, you can expect to pay a larger portion of the bill.

Which of the following items will help you obtain the job/career that you want?

Fixed expenses will change according to a family's needs and short term goals.

A measure of how quickly you can get your cash without the loss of value.

The credit score used by most lenders was developed by the ___ company.

Under the Consumer Credit Protection Act you are liable for the first __ dollars if you card is stolen.

Blue chip stocks are stocks of well known well established companies.

Which of the following is not an example of revolving credit?

Penny stocks sell for less than $5 a share?

Partial ownership of a company.

The number one rule when it comes to saving or investing is to:

A personal property inventory is most commonly used for:

Referred to in a three part series, 100/300/100

The maximum amount you may borrow on a credit card is known as:

A person can get their free credit reports at annualcreditreport.com

Which insurance covers the following scenario? After your knee surgery, you are unable to work for 3 months. Insurance?

Most experts agree that a person should save at least ___ of their monthly income.

Mutual funds allow individuals to get into the market with a smaller buy in.

Once a low credit score is earned there is no quick fix to increase your score.

Which insurance? A person totals my new Lexus with the minimum of insurance in NJ?

Beginning investments should be conservative and low risk.

The use of long-term savings to earn a financial return.