PERSONAL FINANCE EXAM 2024 VERIFIED QUESTIONS AND ANSWERS
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Course
PERSONAL FINANCE
Institution
PERSONAL FINANCE
Nathan has 300 to open a checking account. He wants an account with the lowest fees. He plans on using the ATM machine, and his employer offers direct deposit. Which checking account should he use? - CORRECT ANSWER Account D
Minimum balance 100
Interest 0.1%
Overdraft no
Atm fees none
Mo...
PERSONAL FINANCE EXAM 2024 VERIFIED
QUESTIONS AND ANSWERS
Nathan has 300 to open a checking account. He wants an account with the
lowest fees. He plans on using the ATM machine, and his employer offers
direct deposit. Which checking account should he use? - CORRECT
ANSWER Account D
Minimum balance 100
Interest 0.1%
Overdraft no
Atm fees none
Monthly fee 5-0 with direct
Carlos wrote a check for 4.92 to pay his gas bill. He'll use the check register
to record his transaction. What will be his new balance? - CORRECT
ANSWER 370.09
Davis is planning to buy a bike. He has the full amount in his bank account.
He does not want to pay any interest on his purchase. Which options can
Davis use when making the purchase? - CORRECT ANSWER Use a debit
card or credit card and pay the balance in full when the bill arrives
Naomi is planning to get a job after graduating from college. Which explains
why she should establish a positive credit history? - CORRECT ANSWER
She will appear more responsible to future employers
, PERSONAL FINANCE EXAM 2024 VERIFIED
QUESTIONS AND ANSWERS
Anthony likes hands-on learning so he is looking for a career with post-
secondary training that is more hands on and less classroom based. Based
only on this criteria, which career should Anthony choose last? - CORRECT
ANSWER Marine biologist
Shawna wants to ensure that she has a good income throughout her
retirement. Which method could she employ? - CORRECT ANSWER She
could start a 401k account and choose a position with matching deposits by
the employer
Which is a desirable characteristic when choosing a line of credit? -
CORRECT ANSWER Rewards program
The Wong family bought a 19000 home in 2001. They obtained a mortgage
loan for 30 years. The monthly payment, not including property taxes and
insurance, is 995. How much total are principal and interest will they pay for
the house after 30 years? - CORRECT ANSWER 358200
Sean's mother had to make an emergency purchase of a new tire because her
tire went flat while she was traveling to the store. She is not sure how much
money she has in her checking account. Which method of payment should she
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