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Personal Finance Unit 4 Review w/Hamilton

Total questions: 21

Worksheet time: 9mins

Name
Class
Date
1.

Which of these is an example of 'cost of ownership' of a car?

a)

Lawn Mower

b)

Dish Soap

c)

Oil Changes

d)

Detergent

2.

If I put a hole in the wall of a rental property, my landlord will use my _______ _______ to pay for the repairs.

(a)  

3.

What are 3 ways to get insurance? Choose all that apply

a)

Friend

b)

Individual

c)

Government

d)

Pet

e)

Employer

4.

Describe how fixed-rate mortgage insurance works...

4 lines
5.

The person who rents a property from a landlord is called a

a)

Renter

b)

Owner

c)

Landlord

d)

Tenant

6.

The money you pay upfront for your insurance policy/the money you pay monthly for that policy

a)

Property

b)

Premium

c)

Silver

d)

Platinum

7.

_________ is a loan for the purchase of real estate that uses the property as collateral.

a)

Cosigned

b)

Personal Line of Credit

c)

Mortgage

d)

Renting

8.

I put this down upfront in order to obtain a house when I take out a mortgage.

a)

Security Deposit

b)

Down Payment

c)

Premium

d)

Deductible

9.

Renting a car long term while the ownership title remains with the dealership

a)

Financing

b)

Owning

c)

Buying

d)

Leasing

10.

Private Mortgage Insurance (PMI) DOESN'T protect the lender if you are unable to make your mortgage payment

a)

True

b)

False

11.

If I owe more money on my car than it is worth, I am _______ _____ on my loan.

a)

Downside Up

b)

Diagonal

c)

Upside Down

d)

Sideways

12.

What is the money a policyholder pays before the insurance company will cover the remaining cost?

a)

Down Payment

b)

Deductible

c)

Security Deposit

d)

Premium

13.

The ___________ own the insurance policy.

a)

Policy lender

b)

Policyholder

c)

Insurance keeper

d)

Insurance company

14.

This type of insurance covers the other person's car if you've been in an accident

a)

Liability Insurance

b)

Disability Insurance

c)

Health Insurance

d)

Long Term Care

15.

This type of loan exceeds the federal max limits

a)

Conventional

b)

Jumbo

c)

Government-insured

d)

Cosigned

16.

This type of loan guarantees more than one person making payment

a)

Cosigned

b)

Conventional

c)

Personal Line of Credit

d)

Jumbo

17.

The person named in the policy that receives payment when an insured person dies.

a)

Dependent

b)

Beneficiary

c)

Policyholder

d)

Insurance Company

18.

This type of loan is not insured by the federal government and stays below the federal max limits

a)

Jumbo

b)

Personal Line of Credit

c)

Conventional

19.

If you need full-time medical care IN YOUR HOME

a)

Long term care

b)

Disability Insurance

c)

Health Insurance

d)

Liability Insurance

20.

If you are unable to work and need help covering your expenses you would use what type of insurance?

a)

Liability insurance

b)

Disability insurance

c)

Health insurance

d)

Long term care

21.

Revolving line of credit where you use what you want and then repay it. EX: credit card

a)

Personal Line of Credit

b)

Mortgage

c)

Jumbo

d)

Conventional