Answers MCS Economics BLInsurance

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Federal and state governments protect victims of identity theft by

creating laws that impose fines and jail time for identity thieves.

passing laws requiring financial institutions to reimburse victims.

forcing credit-reporting agencies to notify victims of suspicious activity.

requiring people to do a better job protecting their personal information.

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Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.Which questions should she consider before she buys the jacket? Check all that apply.Is advertising influencing her?What are her motivations?Has she compared prices?Is she buying at the right time?Will her sister like the jacket too?

Is advertising influencing her?

What are her motivations?

Has she compared prices?

Is she buying at the right time?

Will her sister like the jacket too?

What does purchasing insurance for a business reveal about the business owner’s attitude toward financial risk?

It shows that the owner expects financial risk and is eliminating it by making an insurance company liable.

It shows that the owner acknowledges the financial risks and is willing to pay every month to transfer the risk to an insurance company.

It shows that the owner is willing to share ownership of the business to reduce financial risk.

It shows that the owner is willing to budget for short-term financial risks to avoid long-term risks.

One advantage to buying a CD is that it

can be purchased for different amounts.

is high risk but comes with great rewards.

can be used for long-term retirement.

is high risk but backed by the government.

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

one to four years.

four to seven years.

seven to ten years.

eleven to fourteen years.

A credit score tells a lender how

quickly someone will repay a loan.

much money someone will earn in the future.

trustworthy someone is as a lender.

trustworthy someone is as a borrower.

Credit unions differ from retail banks because they are

owned by their members.

owned by their employees.

owned and managed by private corporations.

owned by shareholders who purchased stock.

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no other diet pill offers

What is one cost of avoiding insurance?

falling into debt if faced with a serious problem

not benefitting from insurance deductibles

not being able to purchase a car or home

facing increased probability of accidents

Look at the table below showing an example of a checkbook ledger.

Adrienne forgot to include the $2.00 ATM transaction fee.

Adrienne did not use $320.00 as her starting balance.

Adrienne deducted $23.50 from her balance instead of $32.50.

Adrienne did not enter her ATM withdrawal correctly.

Companies report people to credit agencies if they

fail to pay their bills on time.

borrow too much money.

fail to use different types of credit.

use large amounts of credit at once.

What is one way employers get employees to participate in a 401k?

by requiring them to participate unless they opt out

by requiring them to opt in if they want to participate

by giving them an annual pay raise

by giving them a signing bonus when they participate

Which is the best question for Joe to ask himself when deciding whether to open a checking or savings account?

Is there an ATM near my home or work?

Does the bank offer free checking?

If I need a loan, will they give it to me?

Why am I opening a bank account?

What is the definition of liability?

the amount a consumer must pay after an incident before the insurance company starts paying

the monthly amount paid for insurance

intentionally destroying something in order to collect insurance

a responsibility to pay for or fix a problem

Why were savings and loans (S&Ls) originally established?

to help people invest in small businesses

to help people save money

to help people buy homes

to help people invest in the stock market

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.

emotional spending

confused sense of needs and wants

greedy spending

conspicuous consumption

In some cases, it is safe to avoid insurance because

it is too expensive.

it may not be needed.

only one person is at risk.

one is already in debt.

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

diversification.

risk.

liquidity.

return.

What is the job outlook for a US postal worker?

The career is growing and will provide more opportunities over time.

The career is growing and will provide fewer opportunities over time.

The career is shrinking and will provide more opportunities over time.

The career is shrinking and will provide fewer opportunities over time.

This table compares the requirements for a career as an athletic trainer or an air traffic controller. A student who is interested in becoming an air traffic controller will make

more money than an athletic trainer but will have a harder time finding a job.

more money than an athletic trainer and will have an easier time finding a job.

less money than an athletic trainer but will have an easier time finding a job.

less money than an athletic trainer and will have a harder time finding a job.

If having a warranty on a car is important, a person should buy a car that is .

Answer:

new

Which is most likely to happen to consumers with good credit? Check all that apply.They can be approved for loans.They are denied a mortgage.They can receive lower interest rates.They are denied an unsecured loan.They can use credit in emergencies.They are forced into high interest rates.

They can be approved for loans.

They are denied a mortgage.

They can receive lower interest rates.

They are denied an unsecured loan.

They can use credit in emergencies.

They are forced into high interest rates.

best

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

typing them into her smartphone so they are easily accessible

typing them into an e-mail and sending it to her personal e-mail account

writing them down on one list and keeping them in her wallet

The image shows a sales receipt.

6.25 percent

8.5 percent

10 percent

10.85 percent

Which are considered types of credit available to borrowers? Check all that apply.personal loansbondscredit cardsmortgagescashauto loansgift cards

personal loans

bonds

credit cards

mortgages

cash

auto loans

gift cards

Which is a kind of federal payroll tax?

medicare tax

sales tax

property tax

progressive tax

What is one difference between a vocational school and on-the-job training?

A vocational school degree takes one year to earn. On-the-job training takes two or more years.

A vocational school degree takes weeks or months to earn. On-the-job training takes two years or fewer.

A vocational school is usually paid for by the worker. On-the-job training is usually paid for by the employer.

A vocational school is usually paid for by the employer. On-the-job training is usually paid for by the worker.

Which describes the difference between a personal loan and a credit card?

Credit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow.

Credit cards are secured loans for large amounts, while personal loans are unsecured for small purchases.

Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow.

Personal loans are secured for small purchases, while credit cards are unsecured loans for large amounts.

Who is following the law when it comes to protecting investors’ funds?

a financial planner who pitches a risk-free stock

a mutual fund advisor who informs investors about risks

a broker who sells CDs from nonfinancial institutions

a realtor who advertises a can’t-miss land buy

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