Final Test Answers

If your bank is a member of the FDIC, what does that mean for you?A.The bank is not allowed to lend out your money.B.You will get a better exchange rate than at other banks.C.Your bank is allowed to print out currency for you.D.Your money is protected by insurance up to a specific amount.

Which of the following is a fixed cost for a company that sells greeting cards online and mails the printed cards to customers? A. The paper and glue to make the cards B. Hourly workers who assemble and ship the cards C. Packaging and shipping costs D. A paper cutting machine Please select the best answer from the choices provided

If you want to take advantage of compound interest, what should you do when an investment produces interest?A.Use the interest to pay your bills.B.Reinvest the interest.C.Put the interest in a savings account.D.Put the interest in a checking account.

How is a line of credit similar to a credit card?A.Interest is charged only on the amount you actually borrow.B.The interest rates are the same.C.They both require co-signers.D.Lenders don't check your credit score.

Which of the following is an example of a sales promotion?A.Pay per click Internet advertisingB.A coupon that expires in one monthC.A company newsletterD.A permanent price reduction