Dollars And Sense Final Exam

100 Questions | Total Attempts: 304

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Dollars And Sense Final Exam - Quiz

Questions and Answers
  • 1. 
    With all investments, as the risk goes up, the return goes down.
    • A. 

      True

    • B. 

      False

  • 2. 
    The Roth IRA is an after-tax investment that grows tax free.
    • A. 

      True

    • B. 

      False

  • 3. 
    Never buy something you do not fully understand.
    • A. 

      True

    • B. 

      False

  • 4. 
    Shelf positioning forces the buyer to associate a value with the product.
    • A. 

      True

    • B. 

      False

  • 5. 
    Never roll over your 401(k) when you leave a company.
    • A. 

      True

    • B. 

      False

  • 6. 
    If we used a race analogy to describe building wealth, it would be most like a sprint.
    • A. 

      True

    • B. 

      False

  • 7. 
    Rate of return matters when it comes to compound interest.
    • A. 

      True

    • B. 

      False

  • 8. 
    Diversification means to spread around.
    • A. 

      True

    • B. 

      False

  • 9. 
    Once you have a fully-funded emergency fund, put 10% of your income into retirement plans.
    • A. 

      True

    • B. 

      False

  • 10. 
    Your first Baby Step is to pay off all of your debt.
    • A. 

      True

    • B. 

      False

  • 11. 
    Most often identity theft is committed by strangers.
    • A. 

      True

    • B. 

      False

  • 12. 
    There are two major credit bureaus: TransUnion and Experian.
    • A. 

      True

    • B. 

      False

  • 13. 
    The fastest growing group of bankruptcy filers is senior citizens.
    • A. 

      True

    • B. 

      False

  • 14. 
    The power of cash is immediate
    • A. 

      True

    • B. 

      False

  • 15. 
    In order to have a FICO score, you must have debt.
    • A. 

      True

    • B. 

      False

  • 16. 
    The envelope system includes using credit cards for emergencies.
    • A. 

      True

    • B. 

      False

  • 17. 
    The average mutual fund has anywhere from 90-200 companies in it.
    • A. 

      True

    • B. 

      False

  • 18. 
    You do not need renter’s insurance if you live in a dorm at college
    • A. 

      True

    • B. 

      False

  • 19. 
    Liquidity is the availability of your money.
    • A. 

      True

    • B. 

      False

  • 20. 
    You need a credit card in order to rent cars and check in to hotels.
    • A. 

      True

    • B. 

      False

  • 21. 
    Cash advance and title pawn companies charge roughly the same interest rates and fees on loans as a credit card company.
    • A. 

      True

    • B. 

      False

  • 22. 
    Henry Ford and J.C. Penney were pioneers of the use of credit.
    • A. 

      True

    • B. 

      False

  • 23. 
    Using a credit card is a good way to find a bargain
    • A. 

      True

    • B. 

      False

  • 24. 
    You should always use a realtor when selling a home.
    • A. 

      True

    • B. 

      False

  • 25. 
    Term life insurance is more expensive because it funds a savings plan.
    • A. 

      True

    • B. 

      False

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