PF- True False

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Cash advance and title pawn companies charge roughly the same interest rates and fees on loans as a credit card company.

F

Henry Ford and J.C. Penney were pioneers of the use of credit.

F

If we used a race analogy to describe building wealth, it would be most like a sprint

F

Most often identity theft is committed by strangers.

F

Never roll over your 401(k) when you leave a company

F

Not every state has FICA tax withholdings

F

Personal finance is 20% behavior, 80% head knowledge.

F

Term life insurance is more expensive because it funds a savings plan.

F

The average job is five years in length.

F

The average mutual fund has anywhere from 90-200 companies in it.

F

The envelope system includes using credit cards for emergencies.

F

The fastest growing group of bankruptcy filers is senior citizens.

F

The purpose of insurance is to increase your investments.

F

Using a credit card is a good way to find a bargain

F

You do not need renter's insurance if you live in a dorm at college

F

You need a credit card in order to rent cars and check in to hotels.

F

You should always use a realtor when selling a home.

F

Your first baby step is to pay off all your debt

F

Your salary is the most important motivation for working.

F

With all investments, as the risk goes up the return goes down

False

A good age to open a checking account is between the ages of 13 and 15.

T

Diversification means to spread around

T

If your mortgage payment exceeds 25% of your net income, you have bought more house than you can afford.

T

In order to have a FICO score, you must have debt.

T

Increasing your deductible usually decreases the premium.

T

It usually takes three months for your budget to begin working well.

T

Liquidity is the availability of your money.

T

Men and women have different views about money.

T

Never buy something you do not fully understand

T

Once you have a fully-funded emergency fund, put 10% of your income into retirement plans

T

Rate of return matters when it comes to compound interest

T

Shelf positioning forces the buyer to associate a value with the product

T

Spending cash is more painful than using a debit card.

T

The Roth IRA is an after-tax investment that grows tax free

T

The number one cause of divorce in this country is money issues.

T

The power of cash is immediate

T

There are two major credit bureaus: TransUnion and Experian.

T

There are two parts to FICA: Medicare and Social Security

T

There is no interest charged on debit card purchases

T

Walk away power means you leave if you don't get the price you want.

T


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