Saving, Investing, & Risk Management

Question 1

If someone wants their savings to be insured by the FDIC which option should they pick?

Accepted Answer

Savings Account

Question 2

Stocks are insured against loss by most banks & credit unions?

Accepted Answer

False

Question 3

Which of the following is NOT a short term saving option.

Accepted Answer

Stocks

Question 4

By automatically reinvesting money you are buying additional shares and increasing investment

Accepted Answer

True

Question 5

What does PYF stand for?

Accepted Answer

Pay yourself first

Question 6

Interest is a fee received for the use of money

Accepted Answer

True

Question 7

A long term investment usually means an investment period of one to three months

Accepted Answer

False

Question 8

At college, Chris is only covered for emergency under his parents policy. Should he get his own

Accepted Answer

Yes

Question 9

Which of the following are CONS of health insurance?

Accepted Answer

All of the above

Question 10

Which of the following are pros of a health insurance policy

Accepted Answer

All of the above

Question 11

The type of investment that is essentially an IOU

Accepted Answer

Bond

Question 12

Protection against risk is the primary reason people purchase this type of policy.

Accepted Answer

All of the above

Question 13

Which of the following is NOT a long term saving option?

Accepted Answer

Savings Account

Question 14

The higher the probability that an event will happen, the more expensive the insurance premium

Accepted Answer

True

Questions 14