Module 2 Review EPF

Module 2 Review EPF

12th Grade

20 Qs

quiz-placeholder

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Module 2 Review EPF

Module 2 Review EPF

Assessment

Quiz

History

12th Grade

Practice Problem

Hard

Created by

Angela Core

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Eric recently graduated from college and has a goal of woning his own home by the time he is 30 years old. What tool should he be using to help him plan how to spend his money?

credit card

budget

Mutual fund

Amortization calculator

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended percentage of your monthly income that should be devoted to housing?

20%

40%

30%

50%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the goal of budgeting is to make sure that you are spending money on things that you can afford. If you are spending more money than you earn, what economic situation exists for you?

deficit

surplus

negative credit

foreclosure

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What category would your electricity bill that varies each month fit in?

variable expense

gixed expense

assets

debt

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a component that would MOST likely be found in a budget for a 65 year old but not for a 25 year old?

long term care insurance

mortgage

student loans

car insurance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would you need if you decided to rent a place to live rather than purchase it?

renter's insurance

mortgage

bank loan

homeowner's insurance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If interst rates are currently at 3.5% and the bank offers you a loan that is guaranteed at 2.5% for the first 5 years that cannot go higher than 8%, what type of morgage have you taken?

adjustable rate mortgage

fixed mortgage

lease

reverse mortgage

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