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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. 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?
2. Lilia borrows a diamond necklace from her friend Jane for a special event. The necklace is very expensive and is insured on Jane's parents' homeowner's policy. When the necklace is returned, Jane notices that a diamond is missing. Jane should handle this situation by
3. 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?
4. Anthony's friend Donald asks to borrow Anthony's computer for the weekend while Donald's computer is being repaired. What is most important for Anthony to consider before allowing Donald to borrow the computer?
5. One way that leads a person to earn additional income is for the person to
6. One reason that young people benefit from having a tax advantaged Traditional Individual Retirement Account (IRA) savings account for retirement is that
7. Which of the following is included when determining a person's net worth?
8. Which of the following factors, other than job performance, will result in higher wages being given to many workers?
9. Which of the following is an agency that helps people with credit problems or debt?
10. What is the main function of the Securities and Exchange Commission (SEC)?
11. Which of the following is an important benefit of long-term investing in the stock market?
12. Which of the following government programs would provide partial income to support someone who is permanently disabled?
13. In addition to a Social Security number or taxpayer ID, which of the following documents will a bank require to open a new account?
14. The terms 'job' and 'career' are often used interchangeably. However, there is a major difference in the meaning of the terms. A career is characterized as
15. In order to be sure that the checking or savings account linked to the account owner's debit card has sufficient funds for purchases, banks offer 'easy-access' credit as an option. Which of the following explains how 'easy access' credit works?
16. When people invest money in stocks, bonds, or real estate, they are
17. Which of the following federal laws protects borrowers?
18. Which of the following is included in a standard homeowners or renters policy?
19. The purpose of bankruptcy laws is to
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. An example of a change in a person's life situation requiring a review of their financial goals and plans is
22. An individual or family should consult with a lawyer when
23. To reduce the cost of homeowners or renters insurance, policy holders should
24. An investor bought 100 shares of stock in a technology company for $3,000 and three years later, sold all the shares for $4,000. The $1,000 profit is known as
25. In 2010, the U.S. Congress established The Consumer Financial Protection Bureau (CFPB). The purpose of this organization is to

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