Consumer Economic Final Exam Review, Fall 2020

A loan backed up by no collateral such as a student loan is known as...

The amount of property insurance a homeowner needs should be based on:

Which of the following is NOT an advantage of using credit?

Installment purchase loans can be used...

A commercial bank is

In which economic system does the government have the most control over employment choices?

Which of the following does not affect the total cost of a loan?

Rule of thumb for investing in the stock market is to:

If property has depreciated this means that it has...

What type of health insurance is usually provided by an employer or a union for it's members?

A contract that you sign when you rent an apartment is called a 

Which right provides the opportunity for consumers to express concerns and complaints?

A family should purchase a home that costs no more than:

If your house was damaged by fire this is an example of....

When purchasing a home a down payment

The purpose of a security deposit is to...

Which of the following is not a quality of a free market system?

The least amount one must pay monthly on a credit card is known as

What government organization is in charge of collecting taxes?

Which of the following is NOT tracked by the vehicle’s Identification number (VIN)?

The minimum required insurance coverage for Illinois motorists is:

What is net income?

Prom expenses are what type of expense?

Rent is what type of expense?

Withdrawals and purchases on your debit card are posted to your account

When buying a car the true cost of ownership includes

The amount that you pay for insurance once a month or the yearly cost is...

Which tax form summarizes the previous years earnings?

The most expensive type of insurance is...

By what date must you file your taxes?

A secured loan is backed by

As the APR increases the cost of the loan...

All of the following are economic systems except:

What type of auto insurance would you need if you car was damaged by a hail storm?