Unit 9- Money Management Part 1 Question Preview (ID: 33429)
Unit 9 Review- Part 1.
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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
Other than cash that you have saved, which of the following is a way to pay for a car?
a) Taking out a car loan
b) Taking out a personal loan from a family member
c) Leasing
d) All of the above
In Virginia, you
a) may NOT register a car without insurance.
b) may register a car without insurance if you pay $500 each year.
c) must buy uninsured motorist coverage to operate a vehicle.
d) must have a job to buy a car.
What type of insurance will cover the damage that you cause to another vehicle if you have an accident for which you are responsible.
a) Uninsured motorist coverage
b) Medical payment insurance
c) Property damage liability
d) Bodily injury liability
This type of insurance covers damage to your car in case you are in an accident.
a) Uninsured motorist coverage
b) Medical payment insurance
c) Property damage liability
d) Collision coverage
This type of insurance pays for damages to your car from theft, vandalism, acts of nature, fire, and collision with animals.
a) Property damage liability
b) Medical payment insurance
c) Bodily injury liability
d) Comprehensive coverage
This type of insurance covers an injury or death of another person if you are involved in a car accident that is legally deemed to be your fault.
a) Bodily injury liability
b) Property damage liability
c) Comprehensive coverage
d) Collision coverage
This type of insurance covers damages if you are the victim of a car accident caused by an individual who is uninsured.
a) Property damage liability
b) Uninsured motorist coverage
c) Bodily injury liability
d) Comprehensive coverage
This type of insurance is used to pay the medical expenses for yourself and any passengers involved in a car accident whether or not it is your fault.
a) Medical payment insurance
b) Property damage liability
c) Collision coverage
d) Comprehensive coverage
These are 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
Students are allowed to work on campus in order to offset tuition costs through what?
a) scholarships and grants
b) work-study programs
c) student loans
d) None of the above - such things don't exist
Money borrowed from an institution, usually the federal government or a bank, to pay for higher education and must be paid back with interest are known as these.
a) scholarships and grants.
b) work-study programs.
c) student loans.
d) None of the above - such things don't exist
If you want to pursue a post-graduate professional degree in medicine or college, which of the following would be the best option after high-school?
a) Community college
b) Technical school
c) Four-year college
d) GED program
On average, which of the following has the most expensive tuition?
a) Technical schools
b) In-state (public) colleges
c) Private colleges
d) Community colleges
On average, which of the following has the least expensive tuition?
a) Technical schools
b) In-state (public) colleges
c) Private colleges
d) Community colleges
Typically, any schooling you pursue will likely increase your what?
a) employment opportunities
b) human capital
c) income potential
d) all of the above
Which of the following is NOT true of 529 plans?
a) They are retirement plans.
b) They are higher education savings plans.
c) Virginia has four different options.
d) They grow tax free.
Scholarships and/or grants can be obtained from
a) high schools.
b) religious organizations.
c) community organizations.
d) all of the above.
Phone and utility bills, rent, insurance, and grocery bills are all examples of
a) anticipated income.
b) unanticipated income.
c) anticipated expenses.
d) unanticipated expenses.
Funds spent on a sick pet, broken tooth, or flat tire are all examples of
a) anticipated income.
b) unanticipated income.
c) anticipated expenses.
d) unanticipated expenses.
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