Unit 9 98-101 Question Preview (ID: 32361)


Unit 9 98-101. TEACHERS: click here for quick copy question ID numbers.

A house is an example of a
a) liquid asset.
b) restricted asset.
c) fixed asset.
d) All of the above

Certificates of deposit (CDs) and retirement funds are examples of
a) fixed assets.
b) liquid assets.
c) restricted assets.
d) all of the above.

If you default on a mortgage, the lender may take possession of the property in a process known as
a) foreclosure
b) amnesty
c) appreciation
d) maturation.

Phone and utility bills, rent, insurance, and grocery bills are all examples of
a) anticipated/fixed income. . .
b) unanticipated/Variable income
c) anticipated/fixed expenses
d) unanticipated/Variable expenses.

Typically, any schooling you pursue will likely increase your ___________________ and will __________________ your income potential.
a) human capital, decrease
b) human capital, increase
c) Debt and do nothing
d) Go fishing

___________________ are awards of money students may receive to pursue higher education and don't have to pay back (with very few exceptions).
a) Scholarships and grants
b) Work-study programs
c) Student loans
d) None of the above - such things don't exist

___________________________ pays for damages to your car from theft, vandalism, acts of nature, fire, and collision with animals.
a) Medical payment insurance
b) Bodily injury liability
c) Comprehensive coverage
d) Property damage liability

_____________________ covers damage to your car in case you are in an accident.
a) Uninsured motorist coverage
b) Collision coverage
c) Medical payment insurance
d) Property damage liability

Which of the following would be the riskiest place to keep money that you eventually want to use to buy a car?
a) A savings account
b) A checking account
c) A certificate of deposit (CD
d) A stock market

We have to consider opportunity costs because of
a) abundance.
b) scarcity.
c) affluence.
d) all of the above.

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