stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Independent Living - FINAL EXAM Review! 2017 Flashcards | StudBud
Explore
/
Independent Living - FINAL EXAM Review! 2017
Independent Living - FINAL EXAM Review! 2017
40 terms
·
StudBud Administration
·
365 plays
Independent Living/Consumer Ed Final Exam Review Game
Flashcards
40 cards
F
Practice quiz
P
Host live
L
Questions
40
Answers
1
Pre-approved loan amount that you use anytime you want.
Line of Credit
Overdraft
Deposit
Debit Card
2
Which of the following gives a car buyer legal ownership?
Disclosure Statement
Window Sticker
Title
Warranty
3
Money is deducted from a person's checking account when purchases are made?
Identity Theft
Overdraft
Debit Card
Credit Card
4
Rental agreements and leases are the exact same thing.
False
True
5
One late payment can lower your credit score.
False
True
6
All of the following are reasons why people choose to rent a home rather than buy one
except:
Renters are able to change housing more quickly
Renters are able to estimate their monthly housing expenses
Renting helps you build equity
Renters are not ready for responsibility of ownership
7
If you keep a minimum balance in your checking account, many banks will pay you ____________.
Interest
Deposit
Line of Credit
Overdraft
8
A check that has not been cashed is considered this.
Overdraft
Outstanding
Debit Card
Credit Fraud
9
There is no relationship between goals and values.
True
False
10
Insurance similar to homeowner's insurance but only covers your personal property is:
Condo
Rider's
Liability
Renter's
11
The type of car does not affect the cost of the insurance.
False
True
12
An advertising technique that uses statements or endorsements by well known people.
Repitition
Bandwagon
Testimonial
Omission
13
The deductible is the amount one must pay before the insurance company will pay.
True
False
14
When you sign the back of a check to cash or deposit it you ___________ the check.
Overdraft
Budget
Reconcile
Endorse
15
You do not need insurance if you rent a home instead of buying one.
False
True
16
"Over millions of Americans today use Axe Body Wash" is an example of what marketing tactic?
Omission
Testimonial
Product Association
Bandwagon
17
What is NOT true about writing a resume?
Should be written in paragraph form
Helps distinguish yourself from other candidates
It is an advertisement of yourself
It should be only on page in length
18
Net income is your income before deductions and taxes are taken out of your paycheck.
False
True
19
Which type of endorsement is the best if you are mailing a deposit to your checking account?
Restrictive
Open
Blank
Special
20
What is the best way to avoid credit card debt?
Keep making purchases on your credit card
Paying the minimum amount each month
Pay in full and on time
Paying your bill every other month
21
When renting, purchasing renter's insurance is a requirement.
False
True
22
If you pay your credit card bills in full each month, you do not owe finance charges/interest
True
False
23
You are going to ROCK this Final Exam!! And miss Mrs. De Pinto terribly ;-p
YUP.
Absolutely!
Oooooohhh Yeah!
Heck Yes!
24
A house is foreclosed on when you fail to repay the loan.
False
True
25
When someone gathers enough personal & financial information about you to assume your identity.
Outstanding
Identity Theft
Credit Fraud
Overdraft
26
Leasing payments are generally __________ than financing payments.
Equal to
Lower
Higher
27
Health Insurance provides families with financial assistance during periods of:
Hospitalization
Serious Illness
Disabling Injuries
All of the Above
28
Plastic money which is a convenient way to make a purchase.
Cash
Credit Card
Deposit
Check
29
Advertising that uses words or phrases continually.
Comparison
Repetition
Emotional
Omission
30
If you overdraw your checking acct, you pay a fee to the bank
and
business that got the payment
True
False
31
All of the following affect your monthly mortgage payment
except:
Amount of down payment
Length of the loan
Interest rate
Amount of people who live there
32
"Pay yourself first," is a key statement when budgeting.
True
False
33
"Pay To The Order Of" & "For Deposit Only" are examples of blank endorsements.
True
False
34
A policy is a contract stating the terms of the insurance.
True
False
35
Which of the following is not an advantage of home ownership?
You are not responsible for repairs and maintenance
Privacy and freedom
Builds equity
Gives you the incentive to save
36
Certificate of Deposits (CD's) are more accessible than checking accounts.
True
False
37
Take home pay is the same as:
Monthly Wages
Net Income
Gross Income
None of the Above
38
Your credit rating does not follow you from one place to another.
True
False
39
Needs are essential and wants increase the quality of living.
False
True
40
When driving a car, it is a law that you must have liability insurance.
True
False
