Personal Finance Lessons 1-6 – Flashcards
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True or False: Eating one large meal per day is the best way to maintain your health.
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False
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Which of these is not a result of regular exercise?
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Causing your heart to wear out faster
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Time management can help you:
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All of the above
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On average, the ideal amount of sleep for most adults is:
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7-8 hours
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In managing time, health and work, which of the following goals is most sensible?
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Try to find a balance
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Which of the following is a true statement?
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Lack of sleep can weaken your immune system
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True or False: When starting out a career, you should always work at least two jobs so that you can accumulate money for investing and long-term growth.
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False
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If owning a car costs you $350 per month but allows you to work a second job that provides take-home pay of $125 per week, is it worth it financially to have the car?
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Yes
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True or False: It is generally better to concentrate your exercise time on the weekends only for maximum aerobic benefit.
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False
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Which method of commuting is most likely to reduce your need to go to the gym or get a treadmill?
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Walking
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An associate degree is a:
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2-year degree
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"Aptitude" refers to:
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an inherent talent or ability
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In an interview, an appropriate response to "What is an example of one of your weaknesses?" could be:
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"I'm too hard on myself sometimes"
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Which factor is most important in securing well-paying jobs throughout your career?
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Having a good education
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A resume is generally____page(s) in length.
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one
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A cover letter begins with a(n)
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Heading, and then an introduction
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"Cold call" refers to:
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A phone call to a company, asking if they are hiring
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Without health insurance, a routine checkup at the doctor's office can cost you:
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Several hundred dollars
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In a job interview, it is best to broach the topic of salary:
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At the end or wait until the subject is brought up
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True or False: Jobs require either specific education or specific work experience, but not both.
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False
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Which is NOT a money management skill discussed in the reading material?
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Managing your time in a health manner
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What are some typical expenses for a person just starting out in a rental apartment?
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rent, renters insurance, transportation cost
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Which of the following is an example of irregular income?
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a graduation gift
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Why is it harder to estimate expenses than to estimate income?
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Expenses often change more from month to month
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A budget can help you reach a financial goal by:
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Allowing you to see where you can cut back on spending
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Preparing a budget is:
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An on going process
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Money in your emergency fund could be wisely used:
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to pay for an unforeseen health expense
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How much money should you save each month?
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You must decide what you can afford
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Which is NOT something you should look for in a savings account?
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Rewards for using your debit card
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When estimating income, it is better to be:
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a little low
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In which of the following locations could you find an ad for an apartment?
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a) In the local newspaper b) On the Internet c) In the phone book
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Which of the following best describes a lease?
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A legal document that contains all the details of the agreement between the landlord and renter which is signed by both parties
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Which of the following utilities may be billed separately from your rent?
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a) Water b) Electricity c) Phone service
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How much of your take-home paycheck should be budgeted for base rent?
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30%
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Most landlords require the renter to pay a security deposit at the beginning of the rental agreement. Which of the following is true about the security deposit?
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The deposit can be used to repair damage caused by the tenant during the term of the lease
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Your landlord has the right to:
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Charge you the late fee stated in your lease if your rent payment is late
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The most important thing to consider when choosing an apartment is:
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If you can afford to pay your rent and other costs on an ongoing basis
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Which of the following information would not be found in a typical lease?
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The name of the previous tenant
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A landlord can refuse to rent you an apartment if which of the following is true?
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you own a cat and dog
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Which of the following are considerations in choosing an apartment:
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a) Cost b) Proximity to work c) Availability of mass transit
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This will allow you to borrow money to buy a car, but you will have to pay it back with interest over time:
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Loan
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This includes all the money you will have to pay to a lender beyond the amount you need to purchase the car:
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Finance Charges
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This allows you to use a car for a specified period of time for a specified monthly payment:
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Lease
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With this type of insurance, if you are involved in an accident both parties will be covered by their own insurance policies:
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No-fault
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This number helps you compare loans:
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APR
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This type of insurance pays to fix damages that you cause, but does not cover your own car:
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Liability
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Which one of the following is not part of your automobile operating costs?
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Transaction fees
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When you are looking for a used car, this resource will help you best determine the value of a particular make and model:
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Kelly Blue Book
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A substantial one of these will keep you from going upside down on your loan, that is, owing more on your car than it is worth:
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Down Payment
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Purchasing rather than leasing will generally cause your initial monthly payments to be:
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Higher
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What is the main reason people shop?
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To provide for primary needs
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A car and a computer are examples of what?
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Secondary needs
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Which is NOT a step in researching your purchase?
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Getting your friends approval
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How can you tell the value of a purchase?
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Thinking of how it will affect your life
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How can you make the most of a tight budget?
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a) Making a list before shopping b) Buying on sale c) Setting good priorities
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The Better Business Bureau is:
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a nonprofit consumer organization
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As a part of the Bureau of Consumer Protection, this agency educates consumers and businesses about their rights and responsibilities:
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Federal Trade Commission
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When is a contract made between a buyer and a seller?
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Every time you make a purchase
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A warranty from the manufacturer covers:
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only what is included in the statement
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True or False: A rebate and a discount are the same.
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False, because a rebate often requires action after the sale
