consumer math
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.
C. credit union
2. With _______ insurance, the insured agrees to pay a specific premium each year until death.
B. whole-life
3. In a health insurance policy, a statement that an applicant won't be covered for a certain pre-existing condition is called a/an
C. exclusion.
4. All insurance is based on a principle called
D. division of risk.
5. 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. 118 – 9 – 84.25 + 95
6. The major difference between a calculator and a computer, when performing calculations, is that a
A. calculator is slower and needs more human assistance.
7. Which of the following devices imparts ownership in a corporation?
A. Bond
B. Stock
C. Savings account
D. U.S. Treasury Bill
8. If you have earned income, which of the following retirement devices must you contribute to, by law?
A. Vesting plan
B. Pension plan
C. Social security (FICA)
D. IRA
9. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car?
A. Obtain car insurance.
B. Shop around for a car loan.
C. Study the car market.
D. Test-drive the car.
10. 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.
A. collision
B. medical
C. liability
D. no-fault
11. 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
C. credit union
2. With _______ insurance, the insured agrees to pay a specific premium each year until death.
B. whole-life
3. In a health insurance policy, a statement that an applicant won't be covered for a certain pre-existing condition is called a/an
C. exclusion.
4. All insurance is based on a principle called
D. division of risk.
5. 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. 118 – 9 – 84.25 + 95
6. The major difference between a calculator and a computer, when performing calculations, is that a
A. calculator is slower and needs more human assistance.
7. Which of the following devices imparts ownership in a corporation?
A. Bond
B. Stock
C. Savings account
D. U.S. Treasury Bill
8. If you have earned income, which of the following retirement devices must you contribute to, by law?
A. Vesting plan
B. Pension plan
C. Social security (FICA)
D. IRA
9. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car?
A. Obtain car insurance.
B. Shop around for a car loan.
C. Study the car market.
D. Test-drive the car.
10. 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.
A. collision
B. medical
C. liability
D. no-fault
11. 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