Consumer math questions?
1. When someone other than the checking account holder signs a check it’s considered to be what? (1 point)
bounced
forfeited
authorized
forged
2. When a check is not honored by a bank because there isn’t enough money in the account, it’s called a ___________ check. (1 point)
bounced
forfeited
authorized
forged
3. The amount of money you’re approved to charge on a credit card account is called what? (Hint: It’s shown on the monthly statement) (1 point)
overdraft
available balance
collateral
overdraw
4. What does it mean to say that paper currency is negotiable? (1 point)
you can barter about the price
there are very few available
it can be easily transferred to another person
it is an optional fee
5. If an item on sale is priced 2 for 1 what type of calculation should you use to figure out how much each one will cost? (1 point)
division
multiplication
subtraction
addition
6. When you get in an accident, and you have to get your car fixed, what is your contribution to the bill called? (1 point)
premium
contribution
deductible
supplement
7. What MAXIMUM percentage of your “take-home” or net income should be spent on housing? (1 point)
10%
35%
28%
40%
8. When using an Automated Teller Machine or ATM – what is used to confirm the identity of the user? (1 point)
Personal Identification Picture
Private Internal Number
Personal Identification Number
Private Identity Number
9. The state ________ tax is added to the total on most buys. (1 point)
income
sales
fuel
subsidy
10. Which of the following is NOT a basic necessity? (1 point)
Electricity
Running Water
Groceries
Cable Television
11. When a bank holds the title to an asset in order to secure a loan, what is the asset called? (1 point)
default
collateral
peripheral
principal
12. What type of debt uses collateral to ensure repayment of a loan, and generally offers lower interest rates? (1 point)
secure debt
revolving debt
equity debt
refinancing
13. A debt that is sent from the lender to a collection agency is called a what? (1 point)
terrible debt
late payment
overdraft
repossession
14. Calculate the total price of an MP3 player that costs $178.95 if the sales tax is 9.5% – what is the total? (1 point)
$195.95
$194.55
$199.24
$190.75
15. 45% of $125.50 is how much? (1 point)
$75.00
$62.75
$56.48
$80.54
16. Another name for a check is which of the following? (1 point)
I.O.U.
promissory note
invoice
instrument
17. If you fail to pay a bill by the statement due date you may be charged a what? (1 point)
overdraft fee
finance charge
interest rate
late fee
18. A guarantee that a product will work as described for a certain period of time, or the manufacturer will replace it is called a what? (1 point)
promissory note
lease
warranty
premium
19. When you visit a doctor, or you fill a prescription, the amount that you pay out of your own pocket in addition to what your insurance company pays is called a what? (1 point)
deductible
co-pay
premium
coverage
20. Which of the following is an example of an involuntary salary deduction? (1 point)
retirement account contributions
federal tax withholding
optional health care coverage
car payments
21. When the elderly or disabled depend on governmental help to live, and it doesn’t change from month-to-month, they’re considered to be living on a(n) what? (1 point)
fixed income
fixed expense
fixed revenue
fixed costs
22. Another word for bankrupt is what? (1 point)
insolvent
incoherent
broke
impoverished
23. The type of loan a bank gives a homeowner to buy a house is called a what? (1 point)
secured loan
mortgage loan
refinance
jumbo loan
24. When you earn more than you spend, you’re considered to have a financial what? (1 point)
deficit
shortfall
surplus
excess
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Tags: amount of money, automated teller machine, cable television, consumer., debt equity, enough money, fuel subsidy, groceries, math, maximum percentage, multiplication, net income, number 9, optional fee, overdraft, paper currency, personal identification number, questions, revolving debt, running water, state tax, statement 1, subtraction
read the book. do your own homework kiddo.
I cud know u wanting help with a few question but geezz…u don’t want to do no type off work by yourself. Do some studing trust you’ll be better off in the long run.
1.D
2.A
3.B
4.C
5.A
6.C
7.C
8.C
9.B
10.D
11.B
12.A
13.A
14.A
15.C
16.B
17.D
18.C
19.B
20.B
21.A
22.C
23.B
24.C