Money & Resource Management Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Sally received a copy of her credit report and noticed an error. The report lists a credit card she has never owned. She wants to dispute this error. What law contains information about how to do this?

Question 2 2. The Federal Trade Commission is made up of several different bureaus. Which bureau handles credit protection?

Question 3 3. Ernesto's health insurance plan allows him to receive care at a lower cost from a network of health providers, although out-of-network providers are still an option for him. Ernesto usually pays both a co-payment and a deductible. Which insurance plan does this describe?

Question 4 4. Which of the following definitions of health insurance and out-of-pocket costs is FALSE?

Question 5 5. How can a personal budget benefit an individual?

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Question 6 6. What are some examples of essential expenses?

Question 7 7. Justin makes $1000 per paycheck. He has a 401(k) plan and his employer has a 3% matching program. Justin decides he'd like to be more aggressive with his contributions, so he decides he's going to contribute 5% per paycheck. How much does this mean his employer will contribute per paycheck?

Question 8 8. Which type of retirement benefit plan allows employees to contribute with money that's already been taxed?

Question 9 9. Tony is selecting a disability insurance policy. He has the option of having his benefits start 30 days, 60 days, or 120 days after the onset of a disability. Why would Tony choose 120 days?

Question 10 10. Choose which statement is true about long-term disability policies?

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Question 11 11. How are unemployment compensation benefits related to the economy of a country?

Question 12 12. Who administers unemployment compensation?

Question 13 13. Choose the best example of commodities.

Question 14 14. Choose the best example of a depository institution.

Question 15 15. Which of the following situations would justify the purchase of a personal umbrella liability policy?

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Question 16 16. How does renter's insurance differ from homeowner's insurance?

Question 17 17. Connor recently completed a personal budget workshop and determined he has around $1200 discretionary income each month. What is the best plan for Connor's discretionary income?

Question 18 18. _____ income should be carefully estimated before it is included in a personal budget.

Question 19 19. Which type of credit allows you to request a limit increase if payments are made on time?

Question 20 20. Shawna has been saving for a year to purchase a flat screen TV. When she visits an electronics store, they ask her to complete a credit application just in case she doesn't want to use her cash. Shawna is approved for revolving and installment credit as well as a 90 days same as cash option. Which choice is best if her goal is save on interest?

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Question 21 21. A product that protects from financial loss in the event of a death is _____, and its proceeds are paid out _____.

Question 22 22. A young, female logger and middle age, male sales representative with a history of allergies and high cholesterol are both applying for life insurance policies. Whose policy will be more expensive and why?

Question 23 23. Emily missed a few payments on her credit card while she was out of work. Now she has a debt collector calling her, sometimes up to 20 times a day. Which act is the debt collector violating?

Question 24 24. Ariana's work as a management consultant requires her to travel from state to state. Which type of health insurance would BEST suit her situation?

Question 25 25. Why are non-essential items budgeted last in a personal budget?

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Question 26 26. Alex wants to retire but is not vested. Why is this a bad idea?

Question 27 27. Which of the following options is true about Social Security disability?

Question 28 28. How is unemployment compensation funded?

Question 29 29. Choose the best example of an investment institution.

Question 30 30. Which of the following statements about homeowner's insurance coverage is FALSE?

Money & Resource Management Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

FTCE Family & Consumer Science 6-12 (052): Practice & Study Guide  /  Social Science Courses
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