Examples of investing include all of the following except

putting money into a checking account

purchasing assets with the goal of increasing value over time

allows you to buy now, and pay later

the fee a lender charges a borrower

the amount you pay on a loan before interest starts

A down payment is important because

the higher the down payment the less you will pay in interest

Which of the folloiwng is NOT an advantage of buying a house

You have to pay for more than the mortgage

when the price of goods go up, so the value of your money goes down

The rule of 72 involves which of the following

calculating how long it will take to double your money

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End of Unit 6 Quiz Review

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Questions 13

Answers

1
Examples of investing include all of the following except
buying stocks
buying rental properties
putting money into a checking account
buying bonds
2
Investing involves
only investing in high risk situations
purchasing assets with the goal of increasing value over time
using all money in savings accounts
3
A Debit card is linked directly to your bank account.
False
True
4
A credit card
reduces your chances of going into debt
allows you to not pay back any interest
allows you to buy now, and pay later
deducts money directly from your bank account
5
Interest is
the amount of money on a car loan
the fee a lender charges a borrower
the fee the borrower charges a lender
the amount of money on a mortgage loan
6
A downpayment is
the amount you use to finish paying off a loan
the amount you pay in interest
the amount you owe a car company
the amount you pay on a loan before interest starts
7
Financial Literacy is the ability to understand and use skills like financial management, budgeting, and investing
True
False
8
All of the following are advantagaes of renting except
You can easily move when your lease is over
When something breaks your landlord fixes it
You can save money
Your rent can go up
9
A down payment is important because
the lower the down payment the less you will pay in interest
the higher the down payment the less you will pay in interest
10
Which of the folloiwng is NOT an advantage of buying a house
You can remodel at anytime
Can build up equity/value of your home
You have to pay for more than the mortgage
You can use your home as an investment
11
"Liquid" in finance means that you can easily get your money when needed.
True
False
12
Inflation is
when money is worth nothing
when the price of goods go up, so the value of your money goes down
when you invest in rental properties
when you can predict the stock market
13
The rule of 72 involves which of the following
calculating how long it will take to double your money
calculating how long it will take to triple your money

End of Unit 6 Quiz Review Flashcards | StudBud