Question 1

A universal life policy is a permanent insurance plan that allows flexibility in your insurance and savings amounts.

Accepted Answer

A) True 
 B)False

Question 2

A(n)__________ is a tax-deferred investment plan that enables a person to save part of his or her income for retirement.

Accepted Answer

A)  IRA 
B)  PDA 
C)  AME 
D)  SSE 
A)  IRA 
B)  PDA 
C)  AME 
D)  SSE

Question 3

The first step to controlling your assets is to take an inventory of them.

Accepted Answer

A) True 
 B)False

Question 4

A(n)__________ is the amount that must be spent on health care before insurance companies will cover the remaining expenses.

Accepted Answer

A)  Reserve 
B)  Deductible 
C)  Annuity 
D)  Co-payment 
A)  Reserve 
B)  Deductible 
C)  Annuity 
D)  Co-payment

Question 5

The Social Security money individuals receive when they retire comes directly from

Accepted Answer

A)  The government Social Security trust fund 
B)  State taxes 
C)  The Social Security taxes being paid by others 
D)  The Social Security taxes the individuals are paying who are retiring 
A)  The government Social Security trust fund 
B)  State taxes 
C)  The Social Security taxes being paid by others 
D)  The Social Security taxes the individuals are paying who are retiring

Question 6

__________ means that if you hit someone else with your car,your insurance would pay to repair the damage on the other vehicle,but not on your vehicle.

Accepted Answer

A)  Collision insurance 
B)  Liability insurance 
C)  Uninsured motorist insurance 
D)  Pro-forma insurance 
A)  Collision insurance 
B)  Liability insurance 
C)  Uninsured motorist insurance 
D)  Pro-forma insurance

Question 7

An ARM mortgage has an interest rate that changes,thus the payment throughout the life of the loan will change.

Accepted Answer

A) True 
 B)False

Question 8

__________ is the common name for the Old-Age,Survivors and Disability Insurance Program established in 1935.

Accepted Answer

The answer of __________ is the common name for the...

Question 9

Present value is the worth of an investment at some future point in time.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following statements about life insurance is most true?

Accepted Answer

A)  Insurance needs in early years are high 
B)  Today, the loss of a spouse is not likely to impact the family standard of living with or without life insurance 
C)  The Fed supervises insurance companies to see that they have the assets to cover likely claims in any given year 
D)  Term life insurance is the most complex form of insurance 
A)  Insurance needs in early years are high 
B)  Today, the loss of a spouse is not likely to impact the family standard of living with or without life insurance 
C)  The Fed supervises insurance companies to see that they have the assets to cover likely claims in any given year 
D)  Term life insurance is the most complex form of insurance

Question 11

__________ is the worth of an investment right now.

Accepted Answer

A)  Current value 
B)  Present value 
C)  Amortized value 
D)  Future value 
A)  Current value 
B)  Present value 
C)  Amortized value 
D)  Future value

Question 12

Expensive jewelry and musical instruments are often not covered under basic homeowner's insurance.Instead to cover these things you must buy a __________.

Accepted Answer

The answer of Expensive jewelry and musical instruments are often...

Question 13

Explain the type of information that is contained in a credit report.

Accepted Answer

The information on a credit report inclu

Question 14

An IRA is a tax-deferred investment plan that enables a person to save part of his or her income for retirement.

Accepted Answer

A) True 
 B)False

Question 15

Health insurance is:

Accepted Answer

A)  Important to protect from losses due to health problems 
B)  Provided by many employers 
C)  Likely to have a deductible 
D)  All of the responses are correct 
A)  Important to protect from losses due to health problems 
B)  Provided by many employers 
C)  Likely to have a deductible 
D)  All of the responses are correct

Question 16

Insurance is a written contract between the party being insured and the insurer where the financial responsibility for losses transfers to the insurer up to a specified limit.

Accepted Answer

A) True 
 B)False

Question 17

Living frugally (not participating in unnecessary spending)is easy for the average person.

Accepted Answer

A) True 
 B)False

Question 18

A(n)__________ plan is a savings plan that allows people to deposit pretax dollars and whose earning compound tax free until withdrawal,when the money is taxed at ordinary income tax rates.

Accepted Answer

A)  401(k) 
B)  503(b) 
C)  Roth 
D)  Pension 
A)  401(k) 
B)  503(b) 
C)  Roth 
D)  Pension

Question 19

Less than __________ percent of the U.S.population has accumulated enough money by retirement age to live comfortably.

Accepted Answer

A)  10 
B)  5 
C)  2 
D)  1 
A)  10 
B)  5 
C)  2 
D)  1

Question 20

A fixed rate home loan has a fixed interest rate,but the payment increases throughout the life of the loan.

Accepted Answer

A) True 
 B)False

A universal life policy is a permanent insurance plan that allows flexibility in your insurance and savings amounts.

A(n)__________ is a tax-deferred investment plan that enables a person to save part of his or her income for retirement.

The first step to controlling your assets is to take an inventory of them.

A(n)__________ is the amount that must be spent on health care before insurance companies will cover the remaining expenses.

The Social Security money individuals receive when they retire comes directly from

__________ means that if you hit someone else with your car,your insurance would pay to repair the damage on the other vehicle,but not on your vehicle.

An ARM mortgage has an interest rate that changes,thus the payment throughout the life of the loan will change.

__________ is the common name for the Old-Age,Survivors and Disability Insurance Program established in 1935.

Present value is the worth of an investment at some future point in time.

Which of the following statements about life insurance is most true?

__________ is the worth of an investment right now.

Expensive jewelry and musical instruments are often not covered under basic homeowner's insurance.Instead to cover these things you must buy a __________.

Explain the type of information that is contained in a credit report.

An IRA is a tax-deferred investment plan that enables a person to save part of his or her income for retirement.

Health insurance is:

Insurance is a written contract between the party being insured and the insurer where the financial responsibility for losses transfers to the insurer up to a specified limit.

Living frugally (not participating in unnecessary spending)is easy for the average person.

A(n)__________ plan is a savings plan that allows people to deposit pretax dollars and whose earning compound tax free until withdrawal,when the money is taxed at ordinary income tax rates.

Less than __________ percent of the U.S.population has accumulated enough money by retirement age to live comfortably.

A fixed rate home loan has a fixed interest rate,but the payment increases throughout the life of the loan.

Introduction

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Creating Products and Pricing Strategies to Meet Customers Needs

Distributing and Promoting Products and Services

Filters

Exam 13: Using Technology to Manage Information Lf-Test Scoring Guidelines

A universal life policy is a permanent insurance plan that allows flexibility in your insurance and savings amounts.

A(n)__________ is a tax-deferred investment plan that enables a person to save part of his or her income for retirement.

The first step to controlling your assets is to take an inventory of them.

A(n)__________ is the amount that must be spent on health care before insurance companies will cover the remaining expenses.

The Social Security money individuals receive when they retire comes directly from

__________ means that if you hit someone else with your car,your insurance would pay to repair the damage on the other vehicle,but not on your vehicle.

An ARM mortgage has an interest rate that changes,thus the payment throughout the life of the loan will change.

__________ is the common name for the Old-Age,Survivors and Disability Insurance Program established in 1935.

Present value is the worth of an investment at some future point in time.

Which of the following statements about life insurance is most true?

__________ is the worth of an investment right now.

Expensive jewelry and musical instruments are often not covered under basic homeowner's insurance.Instead to cover these things you must buy a __________.

Explain the type of information that is contained in a credit report.

An IRA is a tax-deferred investment plan that enables a person to save part of his or her income for retirement.

Health insurance is:

Insurance is a written contract between the party being insured and the insurer where the financial responsibility for losses transfers to the insurer up to a specified limit.

Living frugally (not participating in unnecessary spending)is easy for the average person.

A(n)__________ plan is a savings plan that allows people to deposit pretax dollars and whose earning compound tax free until withdrawal,when the money is taxed at ordinary income tax rates.

Less than __________ percent of the U.S.population has accumulated enough money by retirement age to live comfortably.

A fixed rate home loan has a fixed interest rate,but the payment increases throughout the life of the loan.

Introduction

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Creating Products and Pricing Strategies to Meet Customers Needs

Distributing and Promoting Products and Services

Filters