1. Which of the following reasons for using credit is LEAST appropriate?

2. An hourly worker earned $15000 in taxable income last year. The tax rate for this worker’s income bracket is 15%. The maximum amount of federal taxes payable by the worker should have been

3. According to most state lemon laws - an automobile is considered a "lemon" in which of the following circumstances? I. It has been repaired unsuccessfully four or more times for the same problem. II. Its use - value - or safety has been impaired substantially by a continuing problem. III. It has been in the repair shop for a cumulative total of 30 days during the first year of ownership.

4. Which of the following investments would be most appropriate for a family’s emergency fund?

5. All of the following are effective ways of reducing federal estate taxes EXCEPT by creating a(n)

6. Costs of Social Security and Medicare are paid for by

7. A person named in a will to carry out its directions and help settle an estate is called the

8. Which of the following statements is true about IRAs and Keogh plans?

9. The regulation of securities is enforced by which of the following authorities?

10. All of the following statements are true about installment loans EXCEPT:

11. A consumer carries a monthly credit card balance of $1000 and has a credit limit of $5 - 000. From this consumer’s point of view - the best type of credit card is one that offers

12. Which of the following approaches to investment analysis assumes that each particular stock has an intrinsic - or true - value based on its expected future earnings?

13. Under an adjustable-rate mortgage - which of the following best describes the interest rate the borrower pays?

14. In the purchase of a home in which the mortgagor requires an escrow account - the account usually covers which of the following?

15. A married couple files a joint federal tax return with an adjusted gross income of $60000 - earned exclusively from salaries. They work for different companies - and they both participate in their employers’ pension plan. Which of the following statements - if any - is true about their ability to make additional contributions to qualified retirement accounts?

16. Except for bankruptcy - negative credit information usually remains on a credit report for a maximum of

17. Which of the following forms is used to determine the amount of tax withheld from a person’s paycheck?

18. Under the Fair Credit Billing Law - consumers are permitted to dispute entries on their revolving credit accounts in which of the following situations? I. A mathematical error appears in a billing statement. II. Fraudulent use occurs. III. The charges were for damaged or poor-quality goods.

19. Which of the following taxes provides the largest source of income for the federal government?

20. An investor purchased a bond with a maturity of 10 years when the market rate of return for bonds with similar terms and risk was at 7.5 percent. If factors in the market cause market rates to increase - what will happen to the value of the bond purchased by this investor?

21. On the death of a person - which of the following types of assets is subject to probate?

22. A participating life insurance policy has which of the following features?

23. Which of the following financial institutions usually offers the highest interest rate on savings?

24. When someone purchases a stock in the over-the-counter market - the price the buyer pays is the

25. When a person dies intestate - his or her estate will be distributed according to the