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Finance 102: Personal Finance Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Which of the following of the 5 C's contains the interest rate, the principal, and the terms of the loan?

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Question 2 2. Jessica is going to the bank to ask for a loan in order to buy a new house. The bank manager takes a look at her finances, including how much money she has and if she previously had any loans. This will be the most relevant information in determining whether she will receive the loan. Which of the following BEST describes what the bank manager is looking at?

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Question 3 3. James is trying to get a loan to buy a new car. The manager has told him that he can get the $20,000 loan for a 3.5% interest rate if he pays it off in 18 months. James is now curious what the interest rate would be if he were to pay the loan back in 36 months. Based on the correlation between maturity and interest rates, which of the following is the MOST likely answer?

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Question 4 4. Sam is a college student who has recently had to take a loan to pay for his college. Which of the following is provided to him based on the Truth in Lending Act?

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Question 5 5. The income statement and balance sheet are financial statements MOST important for calculating:

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Question 6 6. Which of the following items is MOST likely connected to investment in municipal bonds?

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Question 7 7. When thinking about the relationship between risk and return, it can be generally said that high risk yields a(n) _____ expected return.

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Question 8 8. Which situation would be the BEST fit for an immediate annuity?

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Question 9 9. Identify which of the following benefits MOST from social security:

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Question 10 10. Identify which of the following is taxed by a luxury tax:

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Question 11 11. Tom works for a large company and has recently had to purchase some administrative items for his small business. He has also had to pay a tax when he bought his new apartment and he had to pay that same form of tax when he purchased a car. Which of the following did he have to pay in each purchase?

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Question 12 12. Which of the following can help fund local governmental operations?

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Question 13 13. Which of the following describes a loan principal?

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Question 14 14. A bond investor purchases a bond today at a 3% APR. What would most likely happen to that bond if interest rates drop by 1% tomorrow?

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Question 15 15. Linda had $150 in her checking account, but she thought that she had $200, so she spent $180. Now Linda's account will have a _____ due to an _____.

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Finance 102: Personal Finance Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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