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Personal Finance Literacy Exam 8
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Personal Finance Literacy Exam 8
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25 Questions

1. When a consumer is disappointed with the quality of a product purchased, which of the following should the person try to do first?
2. One way that leads a person to earn additional income is for the person to
3. What is an acceptable way for people to lower the cost of their automobile insurance?
4. An example of a change in a person's life situation requiring a review of their financial goals and plans is
5. Which of the following is likely to DECREASE the auto insurance premium on a policy?
6. When making online transactions, it is important to minimize the threat of identity theft by
7. Based on the information on this card, it is
8. Which of the following explains why a person with an Associate's Degree from a two-year community college earns $10,700 more than someone with a high school (HS) diploma?
9. An investor who is interested in diversifying his stock portfolio should buy
10. An individual with a high tolerance for risk and volatility in financial markets would be most comfortable with more than 50% of his investments in which of the following?
11. The ten-year-old boy has more money in his savings account because the money was deposited
12. Impulse shopping usually results in
13. One example of using credit responsibly is
14. Maintaining organized records for income and expenses is important in order for a person to know where her money is going. What is an effective strategy?
15. Which of the following is a correct calculation of simple interest on $1,000 at the end of one year?
16. What kind of insurance is extremely important for a single 25-year-old person to buy?
17. Which of the following people can take the greatest amount of investment risk?
18. The result of 4% inflation on the value of money when bank interest rates are 2% is that
19. An individual or family should consult with a lawyer when
20. A college student wants to buy a bike to ride from a rented apartment to the college campus. Which of the following should be part of the research?
21. The purpose of long-term care insurance policies is to pay for
22. The purpose of bankruptcy laws is to
23. People in the U.S. spend 5.5% of their income on food consumed in the home and spend 4.5% of their income on food outside of the home. What does this say about how they spend their money?
24. Investment education help investors avoid scams and protect themselves against fraud. Which statement is a red flag that something is wrong?
25. Negative or inaccurate information on a person's credit report will make it difficult for a person to

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