Unit 2 JA Finance Quiz

When it comes to personal savings, What does the acronym PYF stand for?

• Prepare your future

• Pay your friends

• Pay yourself first

• Prepay your finances

What is one pro about owning a health insurance policy?

• It allows you to get regular medical health care.

• Hospital and surgery bills will not be covered.

• It is too expensive and no one can afford it

• Health insurance can help pay for college

Protection against risk is the primary reason people purchase this type of policy.

• Home Insurance

• Health Insurance

• Auto Insurance

• All of the above

is the fee received for the use of money.

• Loans

• Debit cards

• Interest

• Utilities

This type of investment is essentially an IOU with a set rate of return.

• 401(k)retirement Plan

• Stocks

• Mutual Funds

• Bonds

What is 2 long term savings options.

• Saving account and bonds

• 401(k) and Stocks

• certificates and money market accounts

• mutual funds and home insurance

What are 2 cons of owning a health insurance policy?

• It is expensive and co-payments usually apply

• It allows you to get medicine when you need it.

• It allows you to get regular healthcare.

• it allows you to live rent free.

True or false, a large investment usually means an investment period of one to three months.

• Maybe

• True

• Not sure

• False

Stocks insured against loss by most banks and credit unions?

• False

• Maybe

• True

• Sometimes

By automatically reinvesting dividends, you are buying additional shares and increasing your investments. True or False

• True

• Maybe

• False

• Sometimes