Practice Exam Answers

Part A: What affects saving behavior?

Part B: What improves long-term outcomes?

Manny makes these purchases at the store: pair of jeans for 32 point 6 5 dollars 3 t-shirts for 14 point 8 9 dollars each pair of sneakers for 39 point 9 9 dollars The store is having a promotional sale where 10 percent is taken off of each customer’s total purchase before tax. The sales tax is 8 percent If Manny paid 114 point 0 3 dollars , then he _____ for his purchase.

Which is a guaranteed benefit available to non-exempt full-time employees?

Part A: What increases loan cost over time?

Part B: What reduces total cost?

The charts show the effect of an interest rate adjustment on an adjustable-rate mortgage. Before adjustment Component Cost (P) Principal $200,000 (R) Monthly interest rate point 4 percent (n) Total number of monthly payments remaining 360 (M) Monthly payment 1 dollars comma 059 point 8 5 After adjustment Component Cost (P) Principal $187,000 (R) Monthly interest rate point 5 percent (n) Total number of monthly payments remaining 336 (M) Monthly payment 1 dollars comma 162 point 5 6 The change in interest rate shown in the charts resulted in

Part A: What should be identified first?

Part B: What guides investment choices?

Which form does an individual use to file taxes?

How does unemployment insurance help when businesses lay off workers during downturns?

Part A: Which action reflects emotional investing?

Part B: What strategy reduces this behavior?

This table can be used to organize Gigi’s credit card balances and payments over 6 months. The annual percentage rate on the credit card is 14 percent Gigi’s Credit Card Payments Month Balance Payment Interest Rate Interest Charged 1 650 dollars 300 dollars 0 point 0 1 1 6 7 4 point 0 8 dollars 2 354 point 0 8 dollars 50 dollars 0 point 0 1 1 6 7 3 307 point 6 3 dollars 50 dollars 0 point 0 1 1 6 7 4 260 point 6 4 dollars 50 dollars 0 point 0 1 1 6 7 5 213 point 1 0 dollars 50 dollars 0 point 0 1 1 6 7 6 165 dollars 50 dollars 0 point 0 1 1 6 7 What is the amount of interest charged for the first 6 months?

Which is a practical action to take to avoid filing for bankruptcy?

Which are considered types of credit available to borrowers? Choose four correct answers.

When making a major purchase, first determine your [Dropdown 1] income by subtracting the deductions from your gross pay.

A person submits a false insurance claim. What broader financial effect does this action create?

Which statement best summarizes President Clinton’s explanation of interest rates?

Which explains Lauren’s error?