Personal Finance Literacy Exam 5
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Personal Finance Literacy Exam 5
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25 Questions

1. Which of the following is an additional benefit that an employer may choose to offer its employees to attract top talent and encourage high performance:
2. According to Isaac's pay stub, his total earnings before deductions are $1,425. His total deductions are $255. What is Isaac's net income?
3. Which of the following is a true statement regarding inflation's effects on the economy:
4. Investing involves using money to _________, while saving involves putting money away for __________ use.
5. Dan is working part-time delivering pizzas. He has a new credit card with 0% interest, a credit limit of $5,000, and no minimum payment required for the first six months. The card also grants 1% cash back for all purchases. How can he wisely handle his account for the first six months?
6. Why should an investor who wants to actively trade his/her investment choose an ETF instead of a mutual fund?
7. Insurance companies are regulated and supervised in order to
8. What do the numbers listed in a stock table's 52-week high and low column tell you?
9. Limiting the number of credit cards that you have will help you
10. One benefit of loan products is that they allow individuals to pay for goods and services when they need them. One downside of loan products is that
11. Which of the following is the result of both parties using the collaborative negotiation style during a negotiation:
12. If individuals are not self-employed, which of the following is a type of earned income they might receive:
13. Annie and her husband Jeff want to buy a house. Which of the following financial-services providers could help them explore mortgages, create a strategy for home buying, and determine how much they can spend on their new home:
14. Before recommending specific products or services to clients, what should a finance professional do?
15. When a small business purchases insurance to protect itself from losses associated with flooding and hurricanes it is
16. Monitoring financial accounts and reading bank statements on a regular basis can help detect activities associated with
17. Which of the following information should you include in your resume:
18. One difference between stocks and bonds is that
19. Which of the following is the most important consideration in selecting a banking institution:
20. Why is it important for a car owner to have liability insurance coverage?
21. Janie has a problem with impulse spending. When she goes to the store, she frequently ends up purchasing items that she doesn't really need. Impulse spending can lead to
22. Marco doesn't like to leave much to chance, so when it comes to investing his money, he knows that he wants something relatively low-risk. He decides to invest in a combination of stocks from different corporations in different industries because it is less risky than investing in just one stock. What type of investment does Marco select?
23. Which of the following statements related to debt management is true:
24. When a customer is permitted to pay his/her credit account in full in 30 days, or make a minimum payment and be charged a finance charge on the balance, s/he has a(n) __________ account.
25. When you are just beginning your career, what should be the main emphasis of your retirement planning efforts?

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