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D/S Unit 4 Review
Test Description: D/S Final Review
Instructions: Answer all questions to get your test result.
1) A reason that people need to save and invest is to:
A
Enable their money to make money
B
Be able to get anything they want
C
Increase the money supply
D
Have an opportunity to talk with financial service providers
2) Company Xʹs board of directors has decided to issue a portion of its earnings to its shareholders.If you own stock in Company X, you can expect to receive a(n):
A
Buy-out
B
Yield
C
Dividend
D
Investment
3) Savings accounts and money-market accounts are most appropriate for:
A
Emergency funds and short-term goals
B
Long-term investments like retirement
C
Earning a high rate of return
D
Savings accounts and money-market accounts should be avoided since they carry high risk
4) The benefit of diversification in your investments is:
A
Increased return
B
Reduced risk
C
Reduced tax liability
D
Increased risk
5) A young investor willing to take moderate risk for above-average growth would be most interested in:
A
Bonds
B
Real estate
C
Mutual funds
D
Single Stocks
6) Which of the following would not be a huge financial risk (and, therefore would not require insurance) if you had a full emergency fund of $500 or more?
A
You lose your cell phone
B
A medical emergency
C
A car accident
D
Your identity gets stolen
7) The purpose of insurance is to:
A
All of these
B
Develop a savings plan
C
Provide an investment opportunity
D
Transfer financial risk
8) A person becomes self-insured when:
A
Their kids are grown, they have no debt, and they have fully funded retirement
B
They own their own business
C
Everyone should have term life insurance regardless of age or financial well-being
D
They have no debt
9) Which of the following statements about disability insurance is false?
A
Disability insurance is not necessary if you have a good health insurance policy.
B
A longer elimination period will lower your premium cost.
C
After college, short-term disability should be covered by your emergency fund of three to six monthsʹ worth of expenses, stay
D
Your coverage should be for 65% of your income.
10) You are involved in a two-car accident in which you are at fault. The other driver is injured and your insurance covers the medical expenses of the victim. This type of insurance coverage is called:
A
Comprehensive
B
Collision
C
Liability
D
Uninsured motorist protection
11) Single stocks and mutual funds carry the same amount of risk.
A
True
B
False
12) You can start investing with a small amount of money.
A
False
B
True
13) Good investment portfolios are extremely complex.
A
False
B
True
14) If you leave a job and have money saved in your employerʹs retirement plan, always roll that money into an IRA using a direct rollover, which allows you to avoid taxes and penalties.
A
False
B
True
15) Saving and investing have nothing to do with the amount of money you make.
A
True
B
False
16) After high school, you should have the following types of insurance: auto, renterʹs, health and long-term care insurance.
A
True
B
False
17) Renterʹs insurance is not necessary if you donʹt have a lot of expensive things.
A
True
B
False
18) Duplicate coverage, or any extra insurance on top of your existing insurance, is not necessary.
A
True
B
False
19) Any insurance with cash value or that combines insurance with investments is a bad idea.
A
True
B
False
20) Good identity theft protection includes restoration services.
A
False
B
True
*select an answer for all questions
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