number that describes the everyday changing prices of goods.

Money in your emergency fund could be wisely used

To pay for an unforeseen health expense

Investing in a global stock fund is a goodidea to:

Diversify holdings to spread risk outside the U.S. economy

What are the two biggest influences on your credit score?

According to Dave Ramsey, any ten year period in the stock market has made

100% return on investment (ROI)

Which statement is true about liquidity?

the more liquid an investment, the less return

According to Dave Ramsey, for most people, a fully funded emergency fund will be about

$10,000-15,000 or six months living expenses

How many free credit reports are you legally entitled to per year from each credit bureau?

One credit report from each credit bureau

All of the following components are commonly found in rental housing agreements EXCEPT:

What type of renter’s insurance the renter must buy

Which formula best describes the amount an insurance company will pay you for your loss?

Payment equals loss minus deductable

Which of the following is NOT one of the steps to take in resolving fraud?

contact the company where the fraud was perpetrated

Someone may choose to own a car instead of leasing because:

What is a down payment?

a large sum of money you pay towards a property, up front.

Are paid to mutual fund companies when you first purchase it

studbud

Ramsey/Simulation/EverFi Final Quiz

34 termsStudBud Administration59 plays

Review for Final Exam in an Introduction to Business class that meets the Illinois state requirement for Consumer Economics

Flashcards34 cardsFPractice quizPHost liveL

Questions 34

Answers

1
Inflation is:
All of the above
number that describes the everyday changing prices of goods.
A number set by the government that causes prices to rise
Interest rates quoted by banks for their savings accounts
2
When should you begin saving for retirement?
After age 50
As soon as possible
Before age 50 and not after
3
According to Dave Ramsey, most hiring decisions are made:
during the interview
after the interview
before the interview
when your resume is reviewed
4
When you borrowed $50, and then had to pay back $60, what is the original $50 called?
bribery
Principal
Interest
Credit
5
Why is your credit score important?
It heavily influences approval for renting and employment
Both 1 and 3 above
It heavily influences approval of bank loans & credit cards
Only important if buying something from a store
6
According to Dave Ramsey, you should save for the following:
high priced purchases
emergency fund
all of the above
wealth building
7
Money in your emergency fund could be wisely used
to put money down on a new car
to lend money to a friend to pay off credit card debt
To pay for an unforeseen health expense
To buy shoes that just went on sale
8
Investing in a global stock fund is a goodidea to:
Diversify holdings to spread risk outside the U.S. economy
Keep your portfolio dependent solely on the U.S. dollar
Focus all risk on the U.S. economy
Diversify into mutual and corporate bonds
9
What could you put on your resume' if you didn't have a lot of work experience?
both a and b
your best friend's father's name
sports other accomplishments and community service
clubs and activities
10
Bounced checks are a sign of _______________ living.
normal
both a and b
comfortable
crisis
11
Which payment method typically charges the highest interest rates?
payday loans
cashier's checks
prepaid cards
cashier's checks
12
What are the two biggest influences on your credit score?
The number of credit cards and bank accounts you have
What are the two biggest influences on your credit score?
What are the two biggest influences on your credit score?
All of the others.
13
According to Dave, the key to finding work you love is to blend your
both b and c
things you like to do
skills
parent's personality traits
14
It is generally better to focus your exercise time on the weekend to maximize aerobic benefit.
True
Maybe
False
Uh!
15
Which of the following is NOT a good investment?
futures
viaticals
gold
all of the above
16
When it comes to savings, a good rule of thumb is to always
none of the others
pay yourself first
put your money in bonds
put your money in stocks
17
Which of the following are considerations in choosing an apartment:
Availability of mass transit
Proximity to work
Cost
all of the above.
18
According to Dave Ramsey, any ten year period in the stock market has made
100% return on investment (ROI)
53% return on investment (ROI)
100% return on investment (ROI)
75% return on investment (ROI)
19
Which statement is true about liquidity?
the more liquid an investment, the less return
both a and b
the more liquid an investment, the more return
the less liquid the investment, the less return
20
Accordiyg to Dave Ramsey, a savings account with a certificate is a
Bond
Annuity
CD
Viatical
21
A full-time student's, first credit card's APR on outstanding balances will be
lower than parents
About the same as the APR on their parents' card
It will be low until you graduate, then it will rise.
it will probably be high.
22
How can you make the most of a tight budget?
Buying on sale
Make a list before shopping
Setting good priorities
All of the others
23
According to Dave Ramsey, for most people, a fully funded emergency fund will be about
$3,000-5,000 if you are a student
$5,000-10,000 or three months living expenses
$1,000 if you are in high school
$10,000-15,000 or six months living expenses
24
How long will it take you to double $2,000 at a 6% interest rate, compounded annually?
18 years
none of the others
12 years
6 years
25
How many free credit reports are you legally entitled to per year from each credit bureau?
An unlimited amount
Two credit reports from each credit bureau
Three credit reports from each credit bureau
One credit report from each credit bureau
26
This resource will help you best determine the value of a particular make and model used car:
Consumer Reports
Kelley Blue Book
Road and Track
Car and Driver
27
All of the following components are commonly found in rental housing agreements EXCEPT:
What type of renter’s insurance the renter must buy
Which repair types the renter will be responsible for
Whether the renter can have pets in the house
How much the renter will pay
28
Which formula best describes the amount an insurance company will pay you for your loss?
Payment equals loss plus deductable
Payment equals loss minus deductable
Payment equals loss times deductable
Payment equals loss divided by deductable
29
Which of the following is NOT one of the steps to take in resolving fraud?
contact the company where the fraud was perpetrated
none of the others
contact the bank or issuer of the credit card
contact the police
30
Someone may choose to own a car instead of leasing because:
Someone may choose to own a car instead of leasing because:
Someone may choose to own a car instead of leasing because:
Someone may choose to own a car instead of leasing because:
Someone may choose to own a car instead of leasing because:
31
What is a down payment?
A payment that goes down, down, down
Payment gains value over time according to an economic index
a large sum of money you pay towards a property, up front.
All of the others
32
Front end loads
Are paid to mutual fund companies when you first purchase it
Can be compared by adding the expense ratio and 12b-1 fee
Are paid when you are ready to sell the fund
Are disguised as 12b-1 fees.
33
If a person in your house was bitten by your dog, which type of insurance would cover you ?
homeowners
health
disability
life
34
A _________ is generally considered an appreciating asset: it will _________ in value over time
house; increase
house; decrease
car; decrease
car; increase

Ramsey/Simulation/EverFi Final Quiz Flashcards | StudBud