Show:
Giving
Estate Planning
Rent, Transportation, and Food
Identity Theft
Credit Cards
100
Planned giving can occur through: A. Estate planning activities B. Buying Girl Scout Cookies on your way out of the grocery store C. Paycheck deductions for retirement accounts D. Pulling over to help someone with car trouble
What is A. estate planning activities
100
Which of the following statements would be true in most states: A. Teens under the age of 18 may write their own will but it may not be a legal document B. Teens under the age of 18 may not write their own will C. Teens under the age of 18 may be named an executor of a will D. Teens under the age of 18 may not accompany their parent/guardian to an attorney's office
What is B. Teens under the age of 18 may not write their own will
100
Rent is defined as: A. the cost of using someone else's property B. the fee charged for performing property management tasks C. an advance payment for costs beyond normal wear and tear D. the purchase price of a housing unit
What is A. the cost of using someone else's property
100
Which of the following actions will not make an individual vulnerable to identity theft? A. Using a computer without updated spyware B. Responding to an email from your depository institution C. Paying cash for a movie ticket D. Throwing mail in the garbage
What is C. paying cash for a movie ticket
100
Charis wants to decrease the risk of fraudulent use of her credit cards. Which strategy would be the most effective? A. carrying all credit cards in her wallet so they don't get lost B. signing the back of her card with her signature and "Please see picture ID C. giving account numbers over the internet rather than over the phone D. using credit cards for all her purchases so she only needs to pay one bill each month
What is B. signing the back of her card with her signature and "Please see picture ID
200
Which of the following is not considered a form of giving? A. Reading about the storm victims of Hurricane Katrina B. A monetary donation to a charitable cause C. Spending an afternoon cleaning up an abandoned park in your hometown D. Donating material goods to a campaign
What is A. Reading about the storm victims of Hurricane Katrina
200
Which of the following is NOT considered part of the steps of Estate Planning? A. Goal setting B. Family information C. Selling off assets D. Legal and tax analysis
What is C. Selling off assets
200
A rental agreement is often referred to as: A. a lease B. an amenity C. renters insurance D. a mortgage
What is A. a lease
200
Ashley plans to do some of her Christmas shopping online. What is a safety tip to follow when she is shopping online? A. Shred all sales receipts as soon as the item purchased has been received B. Use a debit card C. Use a credit card D. Black out the bank account numbers on the credit card bill before returning it with payment.
What is C. use a credit card
200
133. Sarah will turn 18 next month. She plans to apply for a credit card. Which statement is true? A. Sarah cannot obtain a credit card until she turns 21. B. Sarah will need to use a special application since she is under 25. C. Sarah can only obtain a credit card if she has a co-signer or proof of sufficient income to make the required payments. D. Sarah can obtain a credit card by filling out an application as long as she waits until after her 18th birthday.
What is C. Sarah can only obtain a credit card if she has a co-signer or proof of sufficient income to make the required payments.
300
Healthy giving occurs when: A. Someone decides to write a check for another B. An individual wants to give back and the result is positive emotions for both the giver and receiver C. Occurs when the well-being of only the receiver is affected D. Someone with limited resources gives all they have to make another happy
What is B. An individual wants to give back and the result is positive emotions for both the giver and receiver
300
Which of the following questions does NOT represent a topic teens should ask parents and guardians about Estate Planning? A. How much money do you have in your checking account? B. Do you have a life insurance policy? C. Who would take care of me if something happened to you? D. Have you written a will? Is it recorded?
What is A. How much money do you have in your checking account?
300
Melissa needs to a vehicle and is considering leasing one. This means: A. She would be purchasing the vehicle by making payments over time. B. She would be renting the vehicle by making payments over time, although the vehicle title would remain with the lease grantor. C. Her depreciation costs will likely be higher. D. She will need to pay a larger down payment to offset the lease agreement fees.
What is B. She would be renting the vehicle by making payments over time, although the vehicle title would remain with the lease grantor.
300
Which of the following is an act of identity theft? A. Receiving permission to use a parents' credit card for school clothes B. Wrongfully acquiring and using someone's personal identification C. Taking the identity of another individual as inspiration for a costume D. Having the same name as another person
What is B. Wrongfully acquiring and using someone's personal identification
300
Tyler is trying to be responsible in using his new credit card and has heard there is a way to avoid paying interest on the things he charges. How can he LEGALLY avoid paying interest when using his credit card? A. Tyler needs to make sure he pays the minimum balance every month before the due date on the credit card statement. B. Tyler needs to pay the credit card balance in full every month before the due date listed on the credit card statement. C. Tyler needs to limit the use of his credit cards to balance transfers only. D. Tyler needs to understand that the use of a credit card requires paying interest. There is not legal way for him to avoid paying interest if he uses his card during the billing cycle.
What is B. Tyler needs to pay the credit card balance in full every month before the due date listed on the credit card statement.
400
If the resulted emotion of giving includes resentment, guilt or anger the giving would be considered: A. Selfish B. Egotistical C. Unhealthy D. Passive
What is C. Unhealthy
400
Which of the following is NOT considered a positive outcome of estate planning? A. Ability to leave a legacy with gifts to others including family, organizations, or institutions B. Ability to provide for loved ones after you are gone C. Ability to increase time, effort and dollar costs incurred by survivors D. Ability to decrease time, effort and dollar costs incurred by survivors
What is C. Ability to increase time, effort and dollar costs incurred by survivors
400
Brett borrowed money to purchase a vehicle without making a down payment and now he owes more on the vehicle than it is worth. This situation is referred to as: A. depreciation B. being upside down on the loan C. leasing D. a hidden cost
What is B. being upside down on the loan
400
Which is a general rule when dealing with credit reports to minimize identity theft? A. Check each credit reports at least once per year. B. Wait 60 days before disputing any wrong information found in a credit report or on a credit card statement. C. Keep credit reports in an easily accessible location, so information can be accessed if fraud occurs D. Report mistakes to only one credit reporting agency and they will inform the others
What is A. Check each credit reports at least once per year.
400
Megan's credit card statement indicates that she is now paying a Penalty APR. Which scenario best describes what may have happened? A. Megan's missed making her January and February credit card payments while she was participating in her college's Study Abroad program when the friend she left in charge of sending the payments in forgot. B. Megan's credit card payment has been paid in full each of the last 6 months. C. Megan's card had a lower introductory interest rate for the first year and now the interest rate has increased, as stated on her contract. D. The new computer Megan purchased made her account go over the credit limit for 1 week, until the credit card company processed her credit card statement.
What is A. Megan's missed making her January and February credit card payments while she was participating in her college's Study Abroad program when the friend she left in charge of sending the payments in forgot.
500
Advocacy is: A. When someone is audited by the Internal Revenue Service (IRS) B. A wish list developed by non-profit organizations C. The act or process of writing or speaking out in favor of or about a cause D. A situation in which two people argue against a policy
What is C. The act or process of writing or speaking out in favor of or about a cause
500
Caitlyn's parents were rushing off to a meeting to get some help planning their estate. When Caitlyn asked who they were meeting with, her parents likely told her they were going to the office of: A. a Certified Financial Planner B. An Accountant C. An Attorney D. Any of the above
What is D. Any of the above
500
When making food decisions, which of the following is most likely to be least expensive? A. convenience foods B. fast food restaurants C. ready-to-eat foods D. full-service restaurants
What is A. convenience foods
500
Matt wants to guard his personal information. Which personal information is LEAST LIKELY to be used by scammers? A. phone numbers B. credit card numbers C. bank account numbers D. driver's license numbers
What is A. phone numbers
500
Paying the minimum payment on a credit card every month will: A. pay a large percentage of the total balance owed every month B. make the final amount paid substantially higher than the amount initially charged to the card C. help the cardholder create a plan for paying of a credit card in a decent amount of time D. allow the cardholder to avoid paying any interest charges
What is B. make the final amount paid substantially higher than the amount initially charged to the card.