Financial Literacy Final: Question Preview (ID: 25668)

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what are viaticals?
a) holy bulidings that investors can buy stock in.
b) paying to be the beneficiary of life insurance policy
c) pils taken to make sure you have the right vitamins
d) what they check to see if you are dead

a letter that address specific qualifications you have for a particulary job
a) cover letter
b) job application
c) resume
d) introductory letter

which of the following would helo lower your insurance premiums each month?
a) increase your deductible
b) get rid of unnecessary coverages
c) all of these
d) increase your share of the coinsurance

which of the following is the least liquid investment?
a) money
b) real estate
c) bank account
d) mutual fund

who can contribute to an IRA?
a) only government employees
b) anyone that wants
c) anyone that earns an income
d) anyone with money

a debt instrument that is used by companies to rasie money without having to sell more stocks.
a) mutual fund
b) stock
c) bank account
d) bond

a letter to prospective employer that you will be contacting them
a) cover letter
b) interview
c) job application
d) introductory letter

a share of ownership in a company is called a:
a) viatical
b) bond
c) stock
d) mutual fund

what is earned income?
a) selling a investment at a higher price that you paid for it
b) money paid because you deserve it
c) any income that is generated by working
d) income generated by assets you have purcased or created

if you save money up for a rainy day, aka emergency fund, where should it be stored?
a) mutual fund
b) stocks
c) basic bank account
d) money market account

when liquidity does up what happens to the rate of return?
a) has no effect
b) goes up
c) goes down
d) stays the same

what is the term for the amount you pay each month for the insurance coverage ?
a) co-pay
b) premium
c) deductible
d) coinsurance

why should you never co-sign on a loan for anyone?
a) because if the person doesnt pay then you must pay and it go on your credit report
b) because the bank has deemed that person a credit risk
c) all of these
d) because the percentage of people needing co-signing that defaults is very high and you will probably be left with the bill

what happens to money taken out of a Roth IRA
a) it is NOT taxed
b) It is matched by the employer
c) it is taxed
d) it has to be used for healthcare

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