Economics Final Exam

View the clip. How is this news story likely to effect the value of the U.S. dollar compared to the Malaysian Ringgit?

https://www.youtube.com/watch?v=9FoJgnaIlkw

• The Malaysian Ringgit will appreciate

• Both currencies will appreciate

• The US dollar will appreciate

• Neither currency will appreciate

The amount that you pay monthly or every year for insurance is called:

• Deductible

• Premium

• Co-Pay

• Credit

Which type of insurance provided financial protection to a family when the policy holder dies?

• Life

• Automobile

• Health

• Disability

Jack has a car accident, and the mechanic says the cost to repair the car will be $5,000. Jack has insurance, and his deductible is $1,000. How much will Jack have to pay to fix the car?

• $5,000

• $4,000

• $1,000

• Nothing

Jack has a car accident, and the mechanic says the cost to repair the car will be $5,000. Jack has insurance, and his deductible is $1,000. How much will Jack's insurance company have to pay to fix the car?

• $5,000

• $4,000

• $1,000

• Nothing

You have $1000 in a savings account and the compound interest rate is 10% per year. After 5 years, approximately how much money will you have in the savings account? (Remember, the interest is added to the principal amount one time per year)

• $910

• $1,500

• $1,610

• $2,000

What does a bank look at when deciding if they will loan you money? (The 3 C's of credit worthiness)

• Collateral, cunning, and character

• Capacity, character, and collateral

• Character, Competency, Circumstances

• Character, Capacity, Competency

This type of investment option deposits funds into an account for a set period of time. If you withdraw your money early, you have to pay a penalty.

• Stock

• Bond

• Certificate of Deposit

• Money Market Mutual Fund

Look at this website. Scroll down the page and find the rate for a 12 month CD. If you invest $10,000, how much will you have after 12 months?

https://www.cfg.bank/personal-banking/personal-deposit-rates/

• $10,000

• $10,525

• $10,460

• $10,450

Go to this website. If you invest S$1,000 to buy a 10 year savings bond, how much interest will you earn in the first year?

https://www.mas.gov.sg/bonds-and-bills/singapore-savings-bonds

• S$280

• S$28.10

• S$57

• S$45