Dave Ramsey, Final True and false.

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

False

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

False

Most often identity theft is committed by strangers.Most often identity theft is committed by strangers.

False

Not every state has FICA tax withholdings

False

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

False

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

False

The envelope system includes using credit cards for emergencies.

False

The fastest growing group of bankruptcy filers is senior citizens.

False

The purpose of insurance is to increase your investments.

False

There are two major credit bureaus: TransUnion and Experian.

False

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

False

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

False

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

False

Your first Baby Step is to pay off all of your debt.

False

Your salary is the most important motivation for working.

False

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

True

Diversification means to spread around.

True

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

True

Increasing your deductible usually decreases the premium.

True

Men and women have different views about money.

True

Never Buy something you don't fully understand.

True

Rate of return matters when it comes to compound interest.

True

Spending cash is more painful than using a debit card.

True

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

True

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

True

There are two parts to FICA: Medicare and Social Security

True

There is no interest charged on debit card purchases

True


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