Managing Financial Information — Unit test Answers

Gaia’s gross pay per month is $2,895. Her deductions are listed in the table.DeductionDollar AmountFederal Income Tax$324State Income Tax$96Social Security $126Medicare $39 What is Gaia’s net pay each month?

Which of these are ways that identity theft can happen? Check all that apply.by forgeryby phishingby fraudby financial engineeringby social engineering

Which action is the most important for managing credit effectively?

Martin receives an e-mail about a money-making opportunity from a sender who asks for his bank account number. The best way to avoid having his identity stolen is to

Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. OaklandLos AngelesBudget ItemCostCostHousing$565$1200Food$545$655Health Care$245$495Taxes$450$625Other Necessities$350$495Monthly Total How much money will they save monthly by the move to Oakland?

Dima called her friend to tell her that she saved 30% on her new skirt at a discount store. Her friend told her that she could have gotten a better deal at a different store that was advertising a sale of off all clothing. If the original price of Dima’s skirt was $54, how much more could she have saved at the store her friend suggested?

Which statement best describes the role of a credit agency?

The Jones family would like to buy a home, but they have a large amount of debt that has led to a weak credit score. What step could the Jones family take to improve their credit?

Which statement best describes how lenders determine borrowing conditions for a customer?

Ming made a car insurance payment of $122.50. He’ll use the check register to record his transaction. What will be his new balance?$

The point at which it is no longer advantageous to buy in bulk is known as marginal

Why might variable expenses change a great deal at different times of year?

Sara is 16 years old and would like to open a bank account. What will she need in addition to her parent or guardian? Select four answers.

In American society, which of these is an example of a want?

Which is an example of an income deduction?

When can a credit agency release someone’s credit information in Florida?

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Which statement is true of both mortgages and auto loans?

Becca has $500 to open a checking account. She wants an account with the lowest fees. She writes about 12 checks per month and her employer has direct deposit. She plans to only use her bank’s ATM four times a month. Bank Account Terms and ConditionsWhich checking account would be best for Becca?

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