Insurance — Unit test

Question 1

How easily an investment can be exchanged for cash is known as

Revolt · Accepted Answer

liquidity.

Question 2

best

Revolt · Accepted Answer

writing them down on one list and keeping them in a safe place at home

Question 3

One advantage to buying a CD is that it

Revolt · Accepted Answer

can be purchased for different amounts.

Question 4

David has $90 to spend on sneakers. The sales tax in his state is 6%.Vincent has $95 to spend on sneakers. The sales tax in his state is 9%.Both boys are interested in a pair of sneakers that costs $86. Who will be able to buy the sneakers?

Revolt · Accepted Answer

Vincent

Question 5

Read the scenario.Yuri has $100 to spend at the store. He spots a pair of designer jeans with a $98 price tag on them but knows that he can buy three pairs of $30 jeans for about the same price. He still decides to buy the $98 pair.

Revolt · Accepted Answer

conspicuous consumption

Question 6

This image shows a sample W-2 form.According to this W-2, how much Social Security tax was withheld from John T. Smith’s income for 2012?

Revolt · Accepted Answer

$2,567.45

Question 7

A credit score tells a lender how

Revolt · Accepted Answer

trustworthy someone is as a borrower.

Question 8

Phung works as a pharmacist in Tampa, Florida. Her income is $116,200 a year.Which statements about Phung’s income and tax situation are correct? Check all that apply.

Revolt · Accepted Answer

The first $9,075 she makes each year will be taxed at 10%.; Portions of Phung’s income will be taxed at 10%, 15%, 25%, and 28%.; After $36,000, Phung’s taxable income will experience the greatest tax bracket increase.

Question 9

Bankruptcy is considered a last resort because it stays on someone’s record for

Revolt · Accepted Answer

seven to ten years.

Question 10

What is one cost of avoiding insurance?

Revolt · Accepted Answer

falling into debt if faced with a serious problem

Insurance — Unit test Answers

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