A simple will leaves your possessions to whom?

Handwritten wills are also known as which of the following?

If someone dies without a will, who handles the distribution of the person’s estate?

If someone dies without a will, a situation known as intestate, the state will step in to handle the distribution of the estate, even if it is not what you may have wanted.

In a contract, each party has what?

Negligence is typically thought of as a failure to take reasonable actions to prevent injury or damage.

Negligence is typically thought of as a failure to take reasonable actions to prevent injury or damage.

Only individuals over the age of 60 need to create an estate plan.

The power of attorney is a legal document that gives the person of your choice the authority to act on your behalf.

The specific protection that the insurer provides to the policy holder is known as which of the following?

Verbal contracts can never be legally enforced.

What are clauses in the insurance contract that specify the losses that are not covered by the insurance?

What is the amount of money that the policy holder will pay before the insurance company will pay on an insured loss?

Who agrees to pay for certain types of losses in exchange for payments on a policy?

When you want to add coverage for something not included in an insurance policy, what would you add to your policy?

With a contract, consideration is something of value offered by one party in exchange for something of value from the second party.

You should always read the fine print before signing a contract.

What document details the type of medical care that you wish to receive if you become incapacitated due to a physical or mental illness?

Before giving you a loan or credit, lending institutions may want to know more about you to help determine whether you are a good person to give a loan or credit to.

Collateral is the net worth of your household.

Credit cards all use the same interest and finance charges.

Credit unions tend to give credit only to whom?

Experts recommend that if you have a credit card balance, you keep the balance below what percent of the total credit limit?

If you are trying to establish credit history, what is a good place to start?

Individuals who do not pay off their credit card balances each month are known as which of the following?

Individuals who do not pay off their credit card balances each month are known as which of the following?

In regards to credit, what does capacity mean?

Something of value that is used to back up a loan is known as what?

The assets that you currently own are known as which of the following?

What is true about the payments with closed-end credit?

A bond indenture is which of the following?

Although stocks can generate greater revenue, they are also more risky than many forms of investments.

A stock is a share of what?

Common stocks are considered to be lower risk than municipal bonds.

Municipal bonds are issued by whom?

Preferred stocks share characteristics with which of the following?

The broad types of investments are known as which of the following?

T-bills are offered in what monetary increment?

Speculative investments are which of the following?

What is the process of earning interest on interest that you’ve already earned?

What is true about investing?

What is true about preferred stocks?

What is when someone invests in a variety of places to reduce the overall risk of investing?

Advertisements are paid for by whom?

Credit freezes prevent anyone from viewing your credit report, essentially blocking the creation of new credit accounts in your name.

If you believe that your identity has been stolen, you should close the accounts that have been compromised.

Price comparison involves which of the following?

The Glittering Generalities technique involves using appealing words to sell the product.

What advertising technique involves the use of “positive words without actually really making any guarantee”?

What advertising technique focuses on the positive and ignores any negative aspects in the product?

What involves special devices that steal your credit card or debit card information when you use the card for a purchase?

What is a partial refund of the purchase price of an item?

What is a strategy for reducing the risk of identity theft?

What is when an identity thief calls or emails you pretending to be someone else in order to get your personal information?

A budget variance is any difference between what was actually spent during the time period and the budget.

It is not important to keep financial records since they can all be found online.

Liabilities are the amounts of money due to others that need to be paid now.

Net worth is the difference between your assets and your liabilities.

Liquid assets are those that cannot be easily converted to cash.

The first step in creating a cash flow statement is which of the following?

What budgeting option is best used only with limited resources and expenses?

What is a common mistake made in budgeting?

What is an assessment of what you own and what you owe?

What is an example of a liquid asset?

What is an example of a long term liability?

What is a record of income and expenditures for a particular period?

What is simply a spending plan that we create to help manage our money?

What is the first step in creating a cash flow statement?

What is true about computer files of financial records?