Savings and Investing Test

Treasury Bills mature in three months to one year.

• True

• False

Retirement for self-employed people can be obtained through a Keough Plan.

• True

• False

401K’s are a pre-tax deduction form a paycheck that can then be invested.

• True

• False

Consumer durables usually last for about 20 years.

• True

• False

Consumer finance companies are usually a last resort for those with poor credit.

• True

• False

Secured loans do not require a cosigner or collateral.

• True

• False

Regular charge accounts must be paid off in 30 days.

• True

• False

The amount originally borrowed in a loan is called the “principal.”

• True

• False

Increased saving and investing in the US can eventually lead to economic growth.

• True

• False

Credit unions were deregulated in the 1980’s which then led to their having financial problems.

• True

• False