Money Management: Question Preview (ID: 5283)

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According to the Rule of 72, how long will it take to double your money if the interest rate is 2%?
a) 36 years
b) 36 days
c) 144 years
d) 144 days

By law, how many times can you receive a free credit report?
a) Once a year
b) Three times a year
c) Never
d) Once every two years

What is APR?
a) Annual Percentage Rate, rate charged on any unpaid balance
b) Annual Percentage Rate, rate you receive on your checking account
c) Annual Percentage Rate, rate you receive for paying your credit card bill off every month
d) Annual Percentage Rate, rate you receive for being a good customer

The maximum amount a person pays if their credit card is used by someone else without their knowledge
a) $50
b) $0
c) $100
d) Entire amount charged

Which of the following carries the most risk in investing
a) Stocks
b) Hybrid Mutual Funds
c) Corporate Bonds
d) Government Bonds

Which of the following carries the lowest risk in investing?
a) Government Bonds
b) Corporate Bonds
c) Mutual Funds
d) Stocks

Why should a person diversify?
a) To protect their money in case an investment goes bad
b) To make more money in a shorter period of time
c) To make the decision easier when selecting stocks
d) A person should not diversify

"Not putting all of your eggs in one basket" describes which term
a) Diversification
b) Insurance
c) Investing
d) Bonds

When starting a financial portfolio, where should you go?
a) Financial planner
b) E*Trade
c) New York Stock Exchange
d) Mrs. Larsen

How long does bad credit stay on your credit report?
a) 7 years
b) 10 years
c) Forever
d) 1 year

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