EPF Unit 2 Test Review

What is true about auto insurance premiums?

• If you have an auto insurance policy and get into multiple accidents within one year, your premium amount will increase

• Your premium amount will decrease if you have a clean driving record

• Auto insurance premiums are fixed and do not change over time

• Your premium amount will only increase if you file a claim for theft

the value of a college degree

• A college graduate can expect to earn, on average, more than a high school graduate over a career

• A college degree guarantees a high-paying job immediately after graduation

• High school graduates earn more than college graduates in the long run

• College graduates have more job opportunities but not necessarily higher pay

Your school counselor cannot

• Negotiate lower interest rates with your lenders

• Provide legal advice on financial matters

• Help you apply for scholarships

• Assist in finding part-time jobs

What is the primary purpose of filing a FAFSA?

• To determine federal student aid eligibility

• To apply for a scholarship

• To register for classes

• To obtain a student loan

As you make decisions during college, you should focus on…

• Maximizing your social life at the expense of academics

• Balancing your academic, social, and financial decisions to make the most out of the entire experience while setting yourself up for success post-college

• Choosing a major based solely on potential income

• Avoiding financial planning to enjoy college life

Although it’s not a type of financial aid, how can transferring credits from a community college help save you money on college costs?

• It allows you to take more classes at a community college.

• It reduces the amount of credits you’ll have to pay for at your 4-year college.

• It increases your chances of getting scholarships.

• It provides you with a higher degree immediately.

Which way to pay for college is MOST likely to be based on someone’s financial need?

• Scholarships

• Loans

• Grants

• Work-study programs

Each of the following organizations offers grants to college students EXCEPT…

• FAFSA

• Pell Grant

• National Science Foundation

• State Grant Programs

The types of financial aid from MOST attractive to LEAST attractive

• Grants/Scholarships, Work-study, Federal loans, Private loans

• Federal loans, Grants/Scholarships, Work-study, Private loans

• Private loans, Federal loans, Work-study, Grants/Scholarships

• Work-study, Private loans, Grants/Scholarships, Federal loans

What does 'deductible' mean in insurance terminology?

• Amount paid out of pocket before insurance begins

• The total amount covered by the insurance policy

• The percentage of costs that the insured must pay

• The maximum limit of insurance coverage