WorksheetsModule 2
Total questions: 12
Worksheet time: 9mins
If you make all of your homeowner's insurance premium payments and a tornado hits your home during a bad thunderstorm, what will you need to do next to repair the damage?
pay the deductible
take out a new insurance policy
file a claim with your insurance company
Who should be consulted to help with estate planning and writing wills?
Real Estate Agent
Banker
Estate Lawyer
What tool helps protect individuals from financially devastating events?
Credit Card
Insurance
Certificate of Deposit
What is the best reason to avoid using overdraft protection offered by a bank?
There are high fees associated with the use of overdraft protection.
Overdraft protection only covers savings accounts.
Most banks don't offer overdraft protection.
Yashiro has been hired by a local fast food restaurant. His new boss tells him to bring a voided check with him to sign paperwork so that he can be paid. What bank product will he be signing up for?
Direct Deposit
Credit Check
Savings Account
What is an advantage of taking a 30 year fixed mortgage compared to other options?
higher amount of principal paid each month
less interest paid to the bank
lower monthly payment
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
What category would your electricity bill that varies each month fit in?
Variable Expenses
Assets
Debt
Fixed Expenses
What is the recommended percentage of your monthly income that should be devoted to housing?
30%
40%
50%
10%
Eric recently graduated from college and has a goal of owning his own home by the time he is 30 years old. What tool should he be using him to help him plan how to spend his money?
Budget
Credit Card
Mutual Fund
Money is withdrawn directly from a checking or savings account.
Debit
Credit
Both
Consumers can purchase items now and pay for them later.
Debit
Both
Credit
