Indicate whether the statement is true or false. Generally, people insure the contents of their house for at least half the value of the building.

Indicate whether the statement is true or false. Overtime pay is not considered when you calculate your gross pay.

Indicate whether the statement is true or false. The more personal resources you possess, the greater your purchasing power.

Indicate whether the statement is true or false. Secured loans typically have higher interest rates than unsecured loans.

Indicate whether the statement is true or false. A canceled check is one that has been processed by the bank.

Indicate whether the statement is true or false. One of the first things a real estate agent will ask a prospective homebuyer to do is to go to a mortgage lender and prequalify for a real estate loan.

Indicate whether the statement is true or false. You will probably get more money for your used car if you sell it yourself rather than trading it in at a dealership.

Indicate whether the statement is true or false. Term life insurance policies have no savings component.

Indicate whether the statement is true or false. Today, Americans use credit mainly for emergency spending needs.

Indicate whether the statement is true or false. Comparison shopping will allow you to determine whether you are getting the best quality for the price.

Indicate whether the statement is true or false. There is no jury in divorce cases.

Indicate whether the statement is true or false. A specific consumer group to which advertisements are designed to appeal is called a target market.

When a check is returned to the payee’s bank due to insufficient funds, the check is said to have

In a typical roommate arrangement, all of the following expenses would be shared equally by all of the roommates except

Darren writes a check to the phone company for $45.60. He should record this amount in his checkbook register in the

Which part of a check provides a place for you to write the purpose of the check?

Effectively preparing for a job interview would include

Subsidized student loans

Mortgage lenders usually offer lower interest rates in exchange for higher discount points. Whether or not this is a good deal depends mostly on

All of the following are danger signs that you are overextending your credit except

In a balanced budget,

Many utility companies charge new customers a(n)

Dustin is flying from San Francisco to Sydney, Australia. His flight is scheduled to depart at 6:00 p.m. Dustin should arrive at the airport no later than

The maximum duration of benefits under most disability policies is until

All activities related to the production and distribution of goods and services in a geographic area are referred to as

This type of risk includes the cost of another person’s losses for injuries at your property.

Understanding the types of risk you will face and their potential consequences is called

The savings accumulated in a permanent life insurance policy that you would receive if you canceled your policy is called

Legally established ownership of property is a

Money paid for the use of someone else’s money is called

Attaining a higher skill level to increase your usefulness to your employer is called

Which of the following is NOT an example of a creditors’ responsibility to a consumer?

A work schedule that fits the normal 40-hour workweek into less than five days is called

Credit reports are issued by

Which government agency provides long-term disability coverage to some workers?

For purposes of computing property taxes owed against your home, the city or county in which you live sets a(n) _________________ value on the property.

A request that a bank not honor a specific check is called a(n)

Rate × Hours Worked =

Interest paid on the original principal plus accumulated interest is called

Which type of college does not provide any on-campus housing options?

A consumer request that requires the credit bureaus to deny all access to a consumer’s credit information or files is called a

Which of the following is organized primarily to lend money for home mortgages?

Automobile insurance premiums are based on a number of different factors. Which of the following would NOT be one of those factors?

The unpaid portion of a loan is called

A Flex 125 Plan allows employees to

People who provide information about a job applicant’s skills, character, and achievements are known as

Bonita, Jenny, and Maya are roommates. They equally share the following expenses each month: Rent: $800; Utilities: $150; Groceries: $400; Household Supplies: $100; Miscellaneous expenses: $50. What is each roommate’s monthly share of the expenses?

The downtown condo that Charles rents does not offer free parking. The monthly rate at a nearby parking garage is $120, but the garage offers a 5 percent discount for condo residents. If Charles decides to use this garage, how much will he pay for parking over the course of one year?

Last week Andy worked 44 hours at his job. His regular hourly rate is $12 and his employer pays the typical rate for overtime. He had the following deductions: Federal income tax: $40.00 State income tax: $25.00 Social Security tax: $34.22 Medicare tax: $8.00 Health insurance: $15.00 Calculate Andy’s net pay for the week.

The regular monthly rent at the Empty Arms Apartments is $800 per month. If Andrew signs a one-year lease, the rent is reduced to $700 and the security deposit is also reduced from $500 to $300. The lease also states that if Andrew terminates the agreement prior to one year, he must repay the entire rent reduction and the balance of the security deposit. Suppose Andrew must move out at the beginning of the eighth month. What is the total amount he would owe the landlord, under the terms of the lease?

Use the following figures to find Barney’s expenses for June: Part-time job salary (after taxes): $300 Allowance for household chores: $25 Birthday check from parents: $25 Savings: $100 Cost of new shirt and pants: $80 Cost of two movies: $20 Cost of daily lunches: $100

Suppose you deposit $50 into a savings account that pays 6% interest. Interest is compounded annually. After three years, how much will you have in the account (assume that you make no further deposits or withdrawals).

The Girard family decides to save 10 percent of their income each month. If their monthly income is $4,000, how much will they save over the course of one year?

Sebastian’s insurance agent tells him that he is going to receive a 15 percent premium discount on his auto insurance because of his good grades and successful completion of a driver’s education class. Without the discount, the premiums would have been $700/year. What will be the annual cost of premiums with the discount?

If you buy a home for $175,000, how much down payment will you need to make if the lender requires a down payment of 15 percent?

Jack and Diane are setting up a credit payment plan. They have disposable income of $250/month with which to pay credit card bills. The minimum monthly payments for their bills are as follows: Credit card 1: $50 Credit card 2: $60 Credit card 3: $20 Credit card 4: $15 Suppose credit card 1 is the highest priority. What should their monthly payment be on this card?

How much coverage is required on a $400,000 house if the insurance has an 80 percent coinsurance clause?

Colleen purchases a home for $225,000. If she makes a down payment of 20 percent, what will the amount of Colleen’s mortgage be?

Tyler hires a credit guard service to monitor his credit files. He pays a $100 fee to subscribe to the service, plus a $25 monthly fee. He can request one free copy of his credit report each year; additional copies are $10 each. In the first year, Tyler requested three copies of his credit report. What was the total amount of fees Tyler paid the credit guard service during the first year?