Question 1

Fannie Mae and Freddie Mac:

Accepted Answer

A) are cousins in the financial world. 
B) are publicly traded, government sponsored organizations. 
C) are authorized to revoke loans made by banks and mortgage companies. 
D) make sure that lenders stay within certain limits when lending to prospective home buyers. 
A) are cousins in the financial world. 
B) are publicly traded, government sponsored organizations. 
C) are authorized to revoke loans made by banks and mortgage companies. 
D) make sure that lenders stay within certain limits when lending to prospective home buyers. B

Question 2

Average credit card debt per U.S.household has been decreasing since the 1990s.

Accepted Answer

A) True 
 B)False  False

Question 3

In order to get a high credit score, you need to use credit sensibly.

Accepted Answer

A) True 
 B)False  True

Question 4

People who graduate from college can expect to generate _____ more annual income each year than those earning only a high school diploma.

Accepted Answer

A) $33,000 
B) $17,500 
C) $5,000 
D) $10,000 
A) $33,000 
B) $17,500 
C) $5,000 
D) $10,000

Question 5

Cars and boats are appreciable assets.

Accepted Answer

A) True 
 B)False

Question 6

The difference between your assets and your liabilities is called fair market value.

Accepted Answer

A) True 
 B)False

Question 7

In entrepreneurship as in most other walks of adult life, the better your education, the more promising your financial future.

Accepted Answer

A) True 
 B)False

Question 8

Extrafax, Expertion, and TransAtlantic are the three national credit bureaus.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following questions would you not ask yourself if you were engaging in financial planning?

Accepted Answer

A) How much debt do I have 
B) How much money will I need when I retire 
C) Would I have been better off if I had purchased a car rather than leased it 
D) What's my annual income 
A) How much debt do I have 
B) How much money will I need when I retire 
C) Would I have been better off if I had purchased a car rather than leased it 
D) What's my annual income

Question 10

After sending a résumé and cover letter to the company for the job you want, the next thing to do is to:

Accepted Answer

A) follow up to see if your materials got to the right place and offer additional information. 
B) wait to see if you get a response. 
C) further refine your résumé and cover letter. 
D) make several calls to the company requesting an interview. 
A) follow up to see if your materials got to the right place and offer additional information. 
B) wait to see if you get a response. 
C) further refine your résumé and cover letter. 
D) make several calls to the company requesting an interview.

Question 11

By law, credit bureaus cannot share personal credit scores and other information about credit history with others.

Accepted Answer

A) True 
 B)False

Question 12

Your personal assets consist of what you own.

Accepted Answer

A) True 
 B)False

Question 13

You have financial problems if you're a splurger and/or your bills are too high for your income.

Accepted Answer

A) True 
 B)False

Question 14

For every $1 that you spend on your college education, you can expect to earn about $35 during the course of your financial life cycle.

Accepted Answer

A) True 
 B)False

Question 15

If your credit score has been damaged, what can you do to improve it?

Accepted Answer

A) It cannot be repaired 
B) It is easy to repair 
C) Pay more than the minimum balance due on your credit cards 
D) Get credit in another name 
A) It cannot be repaired 
B) It is easy to repair 
C) Pay more than the minimum balance due on your credit cards 
D) Get credit in another name

Question 16

The purpose of interest is to cover the cost of lost opportunity.

Accepted Answer

A) True 
 B)False

Question 17

Federal Plus is a federally sponsored program that provides students with paid, part-time jobs on campus.

Accepted Answer

A) True 
 B)False

Question 18

An income statement shows where your money has come from and where it's slated to go.

Accepted Answer

A) True 
 B)False

Question 19

Explain the functions of a credit bureau.

Accepted Answer

When we use credit, those we borrow from

Question 20

In a subprime mortgage, the interest rate remains the same regardless of changes in market interest rates.

Accepted Answer

A) True 
 B)False

Fannie Mae and Freddie Mac:

Average credit card debt per U.S.household has been decreasing since the 1990s.

In order to get a high credit score, you need to use credit sensibly.

People who graduate from college can expect to generate _____ more annual income each year than those earning only a high school diploma.

Cars and boats are appreciable assets.

The difference between your assets and your liabilities is called fair market value.

In entrepreneurship as in most other walks of adult life, the better your education, the more promising your financial future.

Extrafax, Expertion, and TransAtlantic are the three national credit bureaus.

Which of the following questions would you not ask yourself if you were engaging in financial planning?

After sending a résumé and cover letter to the company for the job you want, the next thing to do is to:

By law, credit bureaus cannot share personal credit scores and other information about credit history with others.

Your personal assets consist of what you own.

You have financial problems if you're a splurger and/or your bills are too high for your income.

For every $1 that you spend on your college education, you can expect to earn about $35 during the course of your financial life cycle.

If your credit score has been damaged, what can you do to improve it?

The purpose of interest is to cover the cost of lost opportunity.

Federal Plus is a federally sponsored program that provides students with paid, part-time jobs on campus.

An income statement shows where your money has come from and where it's slated to go.

Explain the functions of a credit bureau.

In a subprime mortgage, the interest rate remains the same regardless of changes in market interest rates.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters

Exam 15: Personal Finances

Fannie Mae and Freddie Mac:

Average credit card debt per U.S.household has been decreasing since the 1990s.

In order to get a high credit score, you need to use credit sensibly.

People who graduate from college can expect to generate _____ more annual income each year than those earning only a high school diploma.

Cars and boats are appreciable assets.

The difference between your assets and your liabilities is called fair market value.

In entrepreneurship as in most other walks of adult life, the better your education, the more promising your financial future.

Extrafax, Expertion, and TransAtlantic are the three national credit bureaus.

Which of the following questions would you not ask yourself if you were engaging in financial planning?

After sending a résumé and cover letter to the company for the job you want, the next thing to do is to:

By law, credit bureaus cannot share personal credit scores and other information about credit history with others.

Your personal assets consist of what you own.

You have financial problems if you're a splurger and/or your bills are too high for your income.

For every $1 that you spend on your college education, you can expect to earn about $35 during the course of your financial life cycle.

If your credit score has been damaged, what can you do to improve it?

The purpose of interest is to cover the cost of lost opportunity.

Federal Plus is a federally sponsored program that provides students with paid, part-time jobs on campus.

An income statement shows where your money has come from and where it's slated to go.

Explain the functions of a credit bureau.

In a subprime mortgage, the interest rate remains the same regardless of changes in market interest rates.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters