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WorksheetsEconomics and Personal Finance
Total questions: 18
Worksheet time: 9mins
Name
Class
Date
1.
Which type of account has very high liquidity (easy to access), low or no interest, and low minimum balance?
a)
Money Market Account
b)
Investment Retirement Account (IRA)
c)
Checking Account
d)
Certificate of Deposit
2.
Which of the following is the most important to consider when planning a budget?
a)
A budget for unexcpected expenses before expected expenses
b)
Budget for fixed expenses Before flexible expenses
c)
Budget for needs before wants
d)
Budget for unexpected events before expected expenses
3.
an unexpected event or circumstance without deliberate intent.
a)
Accident Only
b)
Accident
c)
Actuary
d)
All-Risk
4.
coverage that protects against financial loss because of legal liability for motor vehicle related injuries (bodily injury and medical payments) or damage to the property of others caused by accidents arising out of ownership, maintenance or use of a motor vehicle (including recreational vehicles such as motor homes). Commercial is defined as all motor vehicle policies that include vehicles that are used primarily in connection with business, commercial establishments, activity, employment, or activities carried on for gain or profit. No Fault is defined by the state concerned.
a)
Auto Physical Damage
b)
Automobile Liability Insurance
c)
Auto Liability
d)
Chartered Property Casualty Underwriter (CPCU)
5.
Money charged for the insurance coverage reflecting expectation of loss.
a)
Premium
b)
Premiums Earned
c)
Premiums Net
d)
Premiums Written
6.
liability coverage for contents within a renter's residence. Coverage does not include the structure but does include any affixed items provided or changed by the renter.
a)
Term Insurance
b)
Self-Insurance
c)
Renters Insurance
d)
Retrocession
7.
life insurance payable only if death of insured occurs within a specified time, such as 5 or 10 years, or before a specified age.
a)
Underwriter
b)
Term Insurance
c)
Title Insurance
d)
Universal Life Insurance
8.
The benefits of renting include
a)
less initial capital outlay
b)
• increased mobility
c)
fewer maintenance expenses
d)
all the above
9.
The benefits of buying a home include
a)
possibility of building equity
b)
right to deduct interest on Federal Income Tax
c)
opportunity to personalize to own taste.
d)
All the above
10.
What are some expenses related to utilities?
a)
installation
b)
deposits
c)
monthly payments for service
d)
all the above
11.
Your capacity to borrow, or the maximum amount of money you can borrow.
a)
Credit Card
b)
Credit
c)
Line of Credit
d)
Revolving Credit
12.
Your past record of making payments on your liabilities. Good credit means you have a history of paying your debts on time.
a)
Credit
b)
Credit Rating
c)
Credit History
d)
Line of Credit
13.
The amount borrowed.
a)
Loan
b)
Budget
c)
Principal
d)
Debit Card
14.
Assets which you have obtained in order to provide future increases in value. This may be periodic payments received from interest income or dividends, or from appreciation.
a)
Portfolio
b)
Liquidity
c)
Investments
d)
Dividend
15.
the total of all goods and services produced in a nation in a given year.
a)
Economic Indicator
b)
Consumer Price Index
c)
Rate of Return (ROR)
d)
Gross Domestic Product
16.
measures the rate of inflation by monitoring the average change in the price of several hundred goods and services in the country
a)
Prime Rate
b)
Gross Domestic Product - Economic Growth
c)
Consumer Price Index
d)
Time Value of Money
17.
number of years it will take an investment or debt to double.
a)
Rule of 72
b)
Rate of Return (ROR)
c)
Return on Investment (ROI)
d)
Risk and Return
18.
contract between a policyholder and an insurer
a)
health plan
b)
policy
c)
insurance policy
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