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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 credit card company contacts a person's employer or asks for a copy of a school transcript with grades, they are generally evaluating a person's
2. An individual or family should consult with a lawyer when
3. The purpose of bankruptcy laws is to
4. Income can be earned or unearned. Which of the following is an example of unearned income?
5. A risk of using a debit card for buying goods and services is that
6. Which of the following is included in a standard homeowners or renters policy?
7. A suggested amount of savings in order to pay for emergencies is
8. Which of the following risks can a person cover by having insurance to protect against financial loss?
9. Impulse shopping usually results in
10. 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?
11. Entrepreneurs who start a new business with the hope of making a profit are
12. Which of the following is an advantage of people increasing their personal savings?
13. The result of 4% inflation on the value of money when bank interest rates are 2% is that
14. Which of the following is the best advice for a student with college loans?
15. The ten-year-old boy has more money in his savings account because the money was deposited
16. 'I pay my credit card bill in full five-to-seven days before the due date each month!' Someone who does this is likely to have
17. To reduce the cost of homeowners or renters insurance, policy holders should
18. When people invest money in stocks, bonds, or real estate, they are
19. Which of the following can cause a person to become a victim of consumer fraud?
20. What is the opportunity cost of a person selling her stocks and bonds worth $5,000 to spend on a winter vacation?
21. Based on the information on this card, it is
22. A person, who is reluctant to invest in stocks because she has a low tolerance for risk, should consider
23. What is an acceptable way for people to lower the cost of their automobile insurance?
24. Which of the following is likely to DECREASE the auto insurance premium on a policy?
25. Which of the following people can take the greatest amount of investment risk?

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