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Economics- Unit 5 Flashcards | StudBud
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Economics- Unit 5
Economics- Unit 5
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Flashcards
26 cards
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Practice quiz
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Questions
26
Answers
1
What is NOT a type of automobile insurance?
Liability
Comprehensive
Collision
Basic
2
When renting an apartment, what is a normally non-refundable fee?
Rent
Security deposit
Insurance deposit
Application fee
3
What is a broker?
An investor who purchase lots of homes to rent
A middleman between an investor & stock seller
Someone who helps you find & purchase a home
Someone who trades in the stockmarket
4
What is the most basic type of car insurance required by all states?
Trick question- you don't need insurance to drive a car
Collateral
Defensive
Liability
5
What do businesses sell in order to increase investment in their company?
Stock
Bonds
Treasury bills
Mutual funds
6
What is NOT found on a check?
Checking Account Number
Check Number
Routing Number
Bank email address & website
7
What is equity?
Value of a home minus amount still owed on a loan
Insurance which includes building & all possessions inside
Equal opportunity for all races & genders to own a home
Tax on property and the home
8
What is NOT a type of loan offered by banks?
Home
Government
Commercial
Consumer
9
What part of the rental agreement is refundable if you leave the apartment in good condition?
Security Deposit
Insurance deposit
Rent deposit
Application fee
10
What type of home is this?
Townhome
Prefabricated House
Condominiums
Single Family Homes
11
Another name for time deposits is -
Certificates of deposit
Money market accounts
Checking accounts
Savings deposits
12
Why should you check your bank statement?
Just shows how much money you have in the bank
Shows fluctuation in stocks and bonds
Shows individual transactions as they clear the bank
Shows changes in interest rates & fines
13
What organization measures the credit report of countries?
NASDAQ
NYSE
Dow Jones
Standard & Poor 500
14
What is significant about the New York Stock Exchange?
Oldest stock exchange in the US
Only stock exchange in the US
Only stock exchange in the world
Most powerful stock exchange in the US
15
What organization deals with agricultural goods & livestock?
NASDAQ
Chicago Mercantile Exchange
Dow Jones
Texas Agriculture Council
16
Who is most likely going to purchase life insurance?
College students
High school students
Someone with a spouse AND kids
Single Ladies... all the Single Ladies
17
What type of home is this?
Prefabricated home
Single Family Home
Condominium
Townhouse
18
What do you need before you can secure a home loan?
Home inspection
700+ credit score
A minimum of a $1M cash deposit
A home
19
Which was better?
Government
Economics
Nope.... just nope.... mental breakdown from both.
Loved them both! So much better than US History!
20
Money Market accounts require a balance of at least-
$2,000.00
$1,250.00
$25.00
$5,000.00
21
What tax do you have to pay on your home or property?
Estate tax
Sales tax
Real estate tax
Home tax
22
What protects only the items inside your home?
Flood insurance
Renter's insurance
Life insurance
Homeowner's insurance
23
What type of home is this?
Condominium
Mansion
Townhouse
Single-family home
24
What's it called when a lender can takover a person's home when missing mortgage payments?
Repossession
Payback
Stupid
Foreclosure
25
One is one of the bad things about declaring bankruptcy?
Reported in the newspaper and added to criminal record
Destroys your credit score
Allows govt. confiscation of property to repay debts
It is impossible to ever borrow money again from a bank.
26
What is the most common type of business?
Entrepreneurs
Partnership
Sole proprietorship
Corporation
