Personal Finance - 1129 Words

CHAPTER 4 TEST A KEY True or False 1. True 2. False—A debit card will work just fine when renting cars and checking into hotels. 3. False—The debt snowball begins with your smallest debt. 4. True 5. False—If you have to loan money to a friend, give it to them as a gift. Never co-sign a loan. Matching 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. i. b d j c k e l a f Multiple Choice 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. c d a a b d a d c c b d c d a Short Answer: 31. The adult market is saturated, and credit card companies know that people are loyal to their first credit card.  © Copyright 2008 The Lampo Group, Inc. For classroom use only. FOUNDATIONS in PERSONAL FINANCE Name____________________________†¦show more content†¦c. Smaller payments mean more time in debt. d. Your lower interest loans also get rolled into the deal so you end up with minimal savings. 21. Which is true about the practice of marketing credit cards to teenagers? a. Teens are the number one target of credit card companies in America today. b. Brand loyalty to your first card is incredible, so credit card companies work hard to win you over first. c. Colleges are losing more students to credit card debt problems than to academic failure. d. All of the above 22. Which is not true about making purchases with credit cards? a. You spend 12-18% less when using a credit card. b. You spend 12-18% more when using a credit card. c. You are less likely to experience neurological â€Å"pain† when purchasing with a credit card. d. None of the above 23. Why do people think that the home equity loan is a good idea? a. There is a good tax refund. b. It serves as a substitute for an emergency fund. c. It’s a way to consolidate debt. d. All of the above 24. Kevin has the following debts: Home Equity Loan, $24,000; Visa, $1,200; Student Loan, $5,000; Car, $12,000. How sho uld he prioritize his debt snowball? a. Home Equity Loan, Visa, Student Loan, Car b. Visa, Car, Student Loan, Home Equity Loan c. Visa, Student Loan, Car, Home Equity Loan d. Cannot prioritize the debt snowball without knowing the interest rates on each debt FOUNDATIONS in PERSONAL FINANCE 25. Why is gazelle intensity so important in gettingShow MoreRelatedPersonal Finance3482 Words   |  14 Pagesskills to manage financial resources effectively for a lifetime of financial well-being. More specifically, it refers to the set of skills and knowledge that allow an individual to make informed and effective decisions through their understanding of finances. Financial literacy involves a number of different areas of understanding. Learning about money and how it works is an important aspect, as well as understanding products like credit, loans, and investments. Competency in managing money appears toRead Morepersonal finance 51057 Words   |  5 Pagescredit card offer and the one from question 10 above. Which offer would you be more likely to choose? Why? (3-6 sentences. 2.0 points) A Regions Personal Credit Card is a revolving line of credit that allows you to borrow funds to pay for goods and services you purchase, to get a cash advance, or to pay balances you owe to other creditors. You may use your Personal Credit Card for: †¢ Purchases †¢ Balance transfers †¢ Cash advances †¢ Overdraft protection, up to the amount available for cash advances underRead MorePersonal Finance And Social Finance1268 Words   |  6 PagesPersonal Finance has always been an emotional topic in the United States. Today, many Americans are generating unlimited wealth and living exceptional lives, while others are struggling to make ends meet. Evidently, people’s actions and beliefs are the deciding factors in their achievement of wealth. Thus, this huge gap in wealth between rich and poor people has a special connection with the philosophy and attitude of each individual toward personal finance. Merriam-Webster Dictionary definedRead MorePersonal Finance3728 Words   |  15 PagesPersonal Finance Chris Cannard, Van Trinh, Jommel Esteybar, Edward Sy, Cricket Williams, Trey Vogel San Jose State University Abstract Many people assume that handling personal finances is straightforward and can be done with little to no preparation. This paper delves into the many different aspects of personal finance. It discusses the tools that we are learning in class and explains how these tools that can be used to save for retirement. It offers tips to improve your financial standingRead MorePersonal Finance And Social Finance1196 Words   |  5 PagesPersonal Finance has always been an emotional topic in the United States. Today, many Americans are generating unlimited wealth and living exceptional lives, while others are struggling to make ends meet. Evidently, people’s actions and beliefs are the deciding factors in their achievement of wealth. So, this huge gap in wealth between rich and poor people has a special connection with the philosophy and attitude of each individual toward personal finance. Merriam-Webster Dictionary definedRead MoreCommerce Assignment : Personal Finance852 Words   |  4 PagesCommerce Assignment: Personal Finance By Edmund Tan Contents Executive summary Page 3 Product 1 Page 4 Product 2 Page 5 Product 3 Page 6 Bibliography Page 7 Executive summary Nature of the organisation: Kadi Bank is an organisation that provides financial services to the public. The financial services that Kadi Bank currently provides are savings accounts, home loans and superannuation. It was founded in 2014 by Edmund Tan.Read MorePersonal Statement On Personal Finance1724 Words   |  7 Pages Knowledge about personal finance is not always common knowledge and although money touches most modern homes, most parents don’t teach their kids about money either. It can be hard to find time in a busy schedule to figure out when and how to adjust your time to set up a proper budget so instead you just decide to live pay check to paycheck because it got your parents by and now it gets you by and that has just always worked. One day you have to grow up and realize that those consequences ofRead MorePersonal Statement : Personal Finance1607 Words   |  7 PagesPersonal Finance Personal finance decision is a very important decision as it involves management of day-to-day finances of an individual or his family. Personal finance includes not only obtaining, budgeting, saving, and spending monetary resources over time but also taking into account various financial risks and future life events. It includes all activities which an individual is concerned about like investment, insurance, tax, debt servicing, mortgages etc. Financial planning involves analysingRead MoreGet A Financial Life : Personal Finance898 Words   |  4 Pages Within the book, Get a Financial Life: Personal Finance in Your Twenties and Thirties, author Beth Kobliner provides plentiful knowledge to help with financial literacy. Kobliner, a journalist, author, and personal finance expert has set this book up to answer a variety of questions that aid in a better understanding of one’s financial affairs. The questions divided into different chapters cover specific financial choices an d problems people are faced with. Unquestionably, this book is useful toRead MoreA Proposal For Personal Finance1976 Words   |  8 PagesENGL 3310_48F Technical Report Writing Subject: A proposal for Personal Finance 101 to be added to the Bachelors of General Studies Degree Curriculum. The Mission Statement of Lamar University, aspires to engage and empower students with the skills and knowledge to thrive in their personal lives and chosen fields of endeavor. I believe that the course Personal Finance 101, directly respects our University’s mission. Personal Finance is defined as the financial decisions and activities of an individual