AnswersTX-Economics CRUnit Test

Unit Test — Cumulative exam Answers

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Which information is included on a person’s credit report? Check all that apply.money owed to a relativecurrent credit cards and loanstotal amount of money owedwhether bills are paid on timehow much money lenders will loaninterest rates for different loans

A
money owed to a relative
B
current credit cards and loans
C
total amount of money owed
D
whether bills are paid on time
E
how much money lenders will loan
F
interest rates for different loans
42
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One reason a student may seek a federal student loan instead of a private student loan is that

A
private loans carry a higher interest rate than federal loans.
B
federal loans are obtained by banks, while private loans are backed by the government.
C
federal loans must be paid back more quickly than private loans.
D
private loans are only available to parents, while federal loans may be issued to the student.
43

A monthly fixed rate mortgage payment

A
could change.
B
never changes.
C
increases annually.
D
decreases annually.
44

Which type of insurance policy would someone get to protect others only?

A
health insurance
B
life insurance
C
property insurance
D
disability insurance
45

Read the scenario.Sarah has always been passionate about environmental protection. She decides to volunteer her time and donate to a local organization dedicated to cleaning up parks and promoting recycling in her community. She feels a sense of fulfillment knowing that her efforts are contributing to a cleaner and healthier environment for future generations.What is the primary motivation behind Sarah's volunteer work and donations?

A
to spend more time outdoors in local parks
B
to gain recognition and status in her community
C
to earn tax credits for her charitable contributions
D
to fulfill a personal sense of environmental responsibility
46

William is not generally a risk-taker, but he knows he may need to step out of his comfort zone to make enough money for retirement.Which investment option would best meet William’s needs?

A
a US savings bond
B
a savings account
C
a commodity
D
a certificate of deposit
47

This graph compares the total cost of attending educational institutions in Texas.

Question illustration
A
technical schools greatly varies.
B
vocational schools greatly varies.
C
four-year universities greatly varies.
D
community colleges greatly varies.
48

Which statements apply to leasing a car? Check all that apply.The car may be driven as much as needed.Payments are generally higher than buying.There are mileage restrictions on the car.You must return the car after the lease ends.There are penalties for ending the lease early.You can sell the car to someone else after the lease ends.

A
The car may be driven as much as needed.
B
Payments are generally higher than buying.
C
There are mileage restrictions on the car.
D
You must return the car after the lease ends.
E
There are penalties for ending the lease early.
F
You can sell the car to someone else after the lease ends.
49

Which statement describes an hourly wage job?

A
Each paycheck is the exact same regardless of number of hours worked.
B
Each paycheck is less, even if an employer wants you to work more hours in a week.
C
If an employer wants the employee to work more hours in a week, the result is a larger paycheck.
D
If the business is closed for a holiday, the employee still gets paid regardless of available vacation hours.
50

Which of these is a characteristic of certificates of deposit (CDs)?

A
They are always offered at variable rates.
B
They last for a set period of time.
C
They can be opened with any amount of money.
D
They allow access to the money at any time without penalty.

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