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  1. A _______ is invested by managers in a diversity of stocks, bonds, and other securities. A. preferred stock
Bseries EE bond
Cpromissory note
Dmutual fund
  1. Jane has a checkbook balance of $68.00. She then writes two checks, one for $5.00 and one for $62.50. She also deposits $75.00. She then uses her calculator to determine her new balance. Which of the following is the correct series of keys she should press?
A6 8 + 7 5 – 6 2 5 0 – 5 =
B6 8 + 7 5 – 5 – 6 2 . 5 0
CON/C 6 8 + 7 5 = 5 = 6 2 . 5 0 D. ON/C 6 8 – 5 – 6 2 . 5 0 + 7 5 =
  1. Marlin Davies buys a truck for $28,000. In three years, the car depreciates 48% in value. How much is the car worth in three years?
A$12,005 B. $14,560 C. $27,052 D. $14,000
  1. Ray Cupple bought a basic car costing $10,150.00, with options costing $738.00. There is a 6% sales tax in his state and a combined $50.00 license and registration fee. What was Ray's total cost?
A$11,547.00 B. $11,591.28 C. $11,541.28 D. $10,938.00
  1. A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements

would be true?

AYou'll make a profit of $150.



B. You'll make a profit of $15. C. You'll suffer a loss of $15. D. You'll suffer a loss of $150.

  1. Which of the following best describes term life insurance? A. The insured is covered during his or her entire lifetime.
BThe insured pays a premium for a specified number of years.
CThe insured pays the premium until his or her death.
DThe insured can borrow or collect the cash value of the policy.
  1. The Hamilton Brush Company issued 2,500 shares of common stock worth $100,000.00 total. What is the par value of each share?
A$400.00 B. $250.00 C. $25.00 D. $40.00
  1. The Emerson First National Bank is lending you money to buy a new car. The loan agreement will probably state that you must carry _______ insurance.
Ano-fault B. collision C. liability D. medical
  1. All insurance is based on a principle called A. division of risk.
Bcash value coverage.
Cpremium earnings.
Dinvestment premiums.
  1. The coverage included in an automobile insurance policy that covers property damage is _______ insurance.
Asupplemental B. liability
Cterm
Dmajor medical
  1. Which of the following devices imparts ownership in a corporation? A. U.S. Treasury Bill
BBond
CSavings account
DStock

12. _______ health insurance coverage pays for at least part of hospital costs and fees. A. PPO

BHMO
CMajor medical
DBasic
  1. Lorenzo has a checkbook balance of $118.00. He writes two checks, one for $9.00 and one for $84.25. He then deposits $95.00. Finally, he uses his calculator to determine his new balance. Which one of the following series represents the correct order in which he should press the keys on his calculator?
A.25 = 118 + 9 / 95
B95 – 118 + 9 – 84.25 C. 118 – 9 – 84.25 + 95 D. 118 – 95 + 84.25 – 9
  1. What type of stock receives an equal part of the profits on each share to be distributed after all other obligations of a company have been satisfied?
APreferred
BCommon
CCumulative preferred D. No-par
  1. Which of the following is intended primarily to enhance a person's tax advantage and retirement income?
AGrowth fund
BMoney market fund C. IRA
DU.S. Savings Bond
  1. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car?
AObtain car insurance.
BStudy the car market.
CShop around for a car loan. D. Test-drive the car.
  1. A _______ is a group of people who agree to save their money together and to make loans to each other at a relatively low rate of interest.
Acommercial bank B. credit union
CChristmas club D. investment firm
  1. John Gray bought a basic car for $8,250.00, with options that cost $324.00. There's a 6% sales tax in his state and a combined $50.00 license and registration fee. What was John's total cost?
A$10,000.00 B. $9,138.44 C. $14,247.00 D. $9,141.44
  1. Jane Marko buys a car for $11,400.00. In three years, the car depreciates 48% in value. How much is the car worth in three years?
A$4,788.00 B. $3,800.00 C. $5,472.00 D. $5,928.00
  1. With _______ insurance, the insured agrees to pay a specific premium each year until death. A. limited-payment
Bendowment life
Cwhole-life
Dhalf life

Verified Answer :

W0lf93

1. A D. MUTUAL FUND is invested by managers in a diversity of stocks, bonds, and other securities.

  1. Jane has a checkbook balance of $68.00. She then writes two checks, one for $5.00 and one for $62.50. She also deposits $75.00. She then uses her calculator to determine her new balance. Which of the following is the correct series of keys she should press?
DON/C 6 8 – 5 – 6 2 . 5 0 + 7 5 =
  1. Marlin Davies buys a truck for $28,000. In three years, the car depreciates 48% in value. How much is the car worth in three years?
B$14,560  28,000 (1-0.48) = 28,000 0.52 = 14,560
  1. Ray Cupple bought a basic car costing $10,150.00, with options costing $738.00. There is a 6% sales tax in his state and a combined $50.00 license and registration fee. What was Ray's total cost?
B$11,591.28  10,150 + 738 = 10,888 1.06 = 11,541.28 + 50 = 11,591.28
  1. A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements would be true?
AYou'll make a profit of $150.  (3025 ¼ ) – (30 * 20 ¼) = 757.50 – 607.50 = 150
  1. Which of the following best describes term life insurance?
BThe insured pays a premium for a specified number of years.
  1. The Hamilton Brush Company issued 2,500 shares of common stock worth $100,000.00 total. What is the par value of each share?
D$40.00  100,000 / 2,500 = 40.00
  1. The Emerson First National Bank is lending you money to buy a new car. The loan agreement will probably state that you must carry B. COLLISION insurance.
  2. All insurance is based on a principle called A. DIVISION OF RISK.
  3. The coverage included in an automobile insurance policy that covers property damage is B. LIABILITY insurance.
  4. Which of the following devices imparts ownership in a corporation?
DStock
  1. D. BASIC health insurance coverage pays for at least part of hospital costs and fees.
  2. Lorenzo has a checkbook balance of $118.00. He writes two checks, one for $9.00 and one for $84.25. He then deposits $95.00. Finally, he uses his calculator to determine his new balance. Which one of the following series represents the correct order in which he should press the keys on his calculator?
C118 – 9 – 84.25 + 95
  1. What type of stock receives an equal part of the profits on each share to be distributed after all other obligations of a company have been satisfied?
BCommon
  1. Which of the following is intended primarily to enhance a person's tax advantage and retirement income?
DU.S. Savings Bond
  1. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car?
BStudy the car market.
  1. A _______ is a group of people who agree to save their money together and to make loans to each other at a relatively low rate of interest.
Bcredit union
  1. John Gray bought a basic car for $8,250.00, with options that cost $324.00. There's a 6% sales tax in his state and a combined $50.00 license and registration fee. What was John's total cost?
B$9,138.44
  1. Jane Marko buys a car for $11,400.00. In three years, the car depreciates 48% in value. How much is the car worth in three years?
D$5,928.00
  1. With _______ insurance, the insured agrees to pay a specific premium each year until death.
Cwhole-life


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