FINANCIAL LITERACY /MIDTERM REVIEW

A sudden death of a familly member results in loss of household production.

$60,000 mortgage 7.5% interest; 15 year loan. What is the Total amount paid after 15 years?

You invite people to the apt you rent and a guest trips over a pair of boots & breaks a finger.

What information is on a credit collection practices?

Which insurance policy is required by STATE law?

There is a fire in the apt. you rent and you need to replace all of your clothes & furniture.

You are unable to work for one year and need income to pay for living expenses.

The loan you get from the bank to buy a home is called what?

You are unable to work for 3 months & need help paying your expenses while you're out of work.

You have a $2,000 loss.Your insurance co. pays $1,500 on the claim. The $500 difference is a

At what age can you file for social security?

What percentage of your income do retirement planners estimate you'll need in retirement

Sally makes $50,000 a year. what is her true salary if her taxes are 10 percent ?

90,000 house 3% down What is that in dollars?

Which extra type of insurance is MOST likely to be purchased by a BUSINESS owner?

A house has a $100,000 selling price. You put down 25 percent. what is the down payment

What is a good credit score?

How often should check your credit report?

what percent of your income does disability cover

What is the purpose of a credit bureau?

40 hrs. per week, $9.00 per hour, what is your Annual income?

health insurance provided for the elderly

Medicare is part of your taxes

You have a water leak in the home you own & need to replace flooring & cabinets in the kitchen.

While driving a car, you cause an accident that injures someone else.

What should you do with your private information contained in bills, banking statements, etc...

You lose control of your car& it rolls.It can't be repaired, so you need to purchase a new car.

90,000 house and a 30% down payment. What is the price after payment?

A down payment reduces the monthly payment on a loan

bank's profit for lending you money

mortgages and car loans are good debts

Why does disability insurance not cover the full salary amount?

Someone breaks into the apartment you rent and steals your television.

You are elderly & need assistance from medical professionals to continue living at home.

A person with good credit is seen as more responsible financially

APR stands for?

When buying online what type of card should you use?

What is a down payment?

What steps should you take to correct errors on your credit report?

You get food poisoning and visit the hospital emergency room.

Which expenditure on your budget is fixed?

An unexpected death of a family member results in funeral expenses.

It has a $200,000 selling price. Your down payment is 30%. What is the price after payment?

The house you own is destroyed by a tornado and you need to rebuild.

Which economic payment is a tax deduction for homeowners?

While driving your car you hit a tree. Your car must be fixed by a professional repair shop.

Disability covers your full salary when you are hurt

How often should you check your credit card accounts

A person buys a homeowner's policy with a $250 deductible, which means the person will