Personal Finance Semester Final Review-2021

Front

Which describes the best way for people to understand trends in their spending? Options: analyzing all expenditures, saving 10% from each paycheck, tracking automatic bill payments, keeping receipts for all purchases over $10

Back

analyzing all expenditures

Front

Which payment method is most often used when purchasing a home?

Back

mortgage

Front

Which feature of using a local bank or financial institution is an advantage for account holders? Options: free ATM access, short lobby hours, not federally insured, limited customer service options

Back

free ATM access

Front

What guarantees that sufficient funds for a payment exist in a bank account?

Back

certified check

Front

Tyler is unable to visit the bank during business hours to deposit his paycheck, so he must drop the check into the night depository. Which type of endorsement should he use on the check?

Back

restrictive, because he is not presenting the check in person

Front

Which statement best explains why Carmen would increase the deductibles on her auto insurance policy?

Back

to reduce her premium

Front

Which factor benefits the applicant? Options: being married, being 79 years of age, having a credit score of 550, living in a densely populated area

Back

being married

Front

For which item would a credit card be most appropriate if Jasmine is unable to pay cash at the time of purchase? Options: $12,000 for a car, $4,000 for a vacation, $2,000 for new furniture, $1,000 for new professional clothes

Back

$1,000 for new professional clothes

Front

In order to make a decision that will best suit their needs, which question is most important for Mr. and Mrs. Johanson to ask themselves?

Back

At our age, what are our most important financial goals?

Front

Was Mr. Smith's decision to invest all his savings in stock economically sound?

Back

No, because without money in the savings account, the Smiths will be unprepared for an emergency.