Finance Exam Review

How can tracking expenses help?

• It helps me feel guilty

• It helps me save money

• It helps me understand trends in my spending

Which is the best definition of a mortgage

• A personal loan

• A credit card loan

• A home loan

• A car loan

What "pros" should you look for in choosing a bank?A

• No ATM fees

• Federal Insurance

• No balance minimums

• All of these are good!

What is the role of the FDIC?

• Protect bank deposits up to $250K

• Protect student loans

• Pay tax returns

• Analyze bank fraud

What is the purpose of insurance?

• Protect against financial loss

• Protect against defaulting on a loan

• Protect stock investments

• None of these are correct

What is the relationship between insurance premiums and deductables

• When premiums increase, so do deductibles

• When premiums decrease, so do deductibles

• When deductibles increase, premiums decrease

• There is no relationship

What factors do car insurance companies consider risky?

• Age

• Gender

• Where you live

• All of these

What is the best definition for inflation

• the cost of goods increases over time

• the cost of goods decreases over time

• the cost of goods always stays the same

When demand increases, what happens to price?

• It increases.

• It decreases.

• It stays the same

Which of the following ways would NOT help a person to increase income if they want to pay off debt?

• Get a loan

• Get a side hustle

• Rent out property

• Sell valuable items