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Exam 22: Appendix B: Managing Risk

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Question 101

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When young people decide to buy a house,the best approach is to buy a house in an inexpensive part of town so they can get a larger house for less money.

A) True
B) False

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Question 102

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Employers often match part of the contribution of their employees into a 401(k)retirement plan.

A) True
B) False

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Question 103

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What are the advantages of investing in a home?

The path to success in a capitalist system is to:

A retirement plan where employers often match part of an employee's contribution is known as a:

Slobo is an immigrant to the United States from a formerly communist country.He is searching for advice to help him succeed in a capitalist system.He would be well advised to:

When you buy a home,the monthly payments for the home may remain relatively fixed,but your payments for taxes and utilities are likely to increase.

If you find yourself regularly running out of cash,your only real option is to focus your attention on finding ways to increase your income.

Earnings from traditional IRA investments are taxable at the time they are earned.

Employees of small businesses can contribute to a Keogh plan.

The first step in getting control of your finances is to prepare a budget.

Bob's credit card charges him 14% interest on his unpaid balance.His bank is offering him 5% interest on a savings account.The first thing Bob should do with any extra money he may have is to:

Your personal budget is the same thing as your personal income statement.

During her sophomore year in college Melody received a letter indicating she was eligible for a credit card along with a free gift from Metro State Bank.Melody was really excited until she remembered that any cash she has usually "burns a hole" in her pocket.Melody would likely not be successful with a credit card because:

________ life insurance offers pure insurance protection for a given period of time.

Which of the following is a benefit of buying a home rather than renting?

Many insurance providers offer __________ policies that give a discount to families who buy several types of insurance coverage from them.

Wendy wants to obtain life insurance at the lowest possible cost,but is leery of term insurance because she has heard the premiums tend to go up every few years.One way for her to avoid this concern would be to purchase multiyear level-premium insurance.

The number of workers paying into Social Security per retired individual receiving benefits is decreasing.

If you use a credit card to make purchases,you should make a strong effort to pay off the balance in full each month.