Wise Review Quiz 5

Which formula shows the number of years it takes to double your investment?

• 72 / Interest Rate
• 72 / 2 * principal
• 72 / money invested
• 72 / number of years invested

How many years does it take to double your investment with an interest rate of 9%?

• 5 years
• 10 years
• 8 years
•  7.2 years

The amount of money you pay out of pocket for a covered medical service (after deductible has been met).

• co-pay
• premium
• double pay
• rule of 72

Which of the following is not a source of income?

• Wage
• Rental cashflow
• Investments
• Expenses

Insurance that will cover your bills while you are disabled or cannot work due to an injury or illness

• disability insurance
• health insurance
• life insurance
• hurt insurance

How can you determine your net worth?

• Assets - Liabilities = Net Worth
• Assets + Liabilities = Net Worth
• Assets - Expenses = Net Worth

Rose lost her debit card. She did not report it missing for 3 months. If an unauthorized person used her debit card, her maximum liability is:

• $50

• $500

• Unlimited liability

• No liability because she notified the financial institution.

If you have a managed health care plan, it means that you:

• Can go to any doctor at any time.

• Usually must first meet with your primary care health care physician.

• Will be responsible for $100 of a doctor bill.

• Can apply for an 80% reimbursement of the amount paid to the doctor.

Why is term life insurance usually the least expensive type of life insurance?

• The policy only pays a death benefit

• The policy builds a cash value

• The policy provides coverage for a lifetime

• The policy is available to all consumers

Money spent

• Wages
• Expenses
• Finances
• Fixed expenses only