1. Aninsuranceprogramsetuptopayexpensesforwork-relatedinjuries,illnesses,anddeathis

a. Medigap.

b. Medicare.

c. workers'compensation.

d. Medicaid.

2. Moneypaidbyarenterthatalandlordholdstocoverthecostofdamagestoarentedpropertyiscalledthe

a. securitydeposit.

b. lease.

c. downpayment.

d. earnestmoney.

3. AccordingtotheU.S.DepartmentofAgriculture'sMyPyramid,allofthefollowingareincludedasfood groupsexcept

a. milk.

b. oils.

c. grains.

d. water.

4. Theamountthedealerpaidtobuyacarfromthemanufactureristheinvoiceprice.

a. true

b. false

5. Insurancethatisdesignedtoreplaceyourlostincomewhenyoucannotworkbecauseofanaccidentor illnessis

a. disabilityincomeinsurance.

b. long-termcareinsurance.

c. liabilityinsurance.

d. replacementinsurance.

6. Usedcarsarelessexpensivetobuyandwillprobablyhavefewermaintenanceproblemsthannewcars.

a. true

b. false

7. Thepartofyourinsurancethatcoverstheothercarwhenyouareinanaccidentthatisyourfaultiscalled

a. comprehensive.

b. liability.

c. collision.

d. nofault.

8. Theamountanitemiscurrentlyworthisits

a. insurancevalue.

b. wholesalevalue.

c. marketvalue.

d. replacementvalue.

9. Thequickestmethodoftravelbetweendistantlocationsismostoftenbyairplane.

a. true

b. false

10. Feesthatcoverthecostsrelatedtothepurchaseofahousearethe

a. financecharges.

b. homeowner'sfees.

c. closingcosts.

d. points.

11. Sourcesforfindingapartmentsforrentinclude

a. familyandfriends.

b. realestateagencies.

c. theInternet d. allofthese.

12. AloaninsuredbytheFederalHousingAdministrationiscalledahomeequityloan.

a. true

b. false

13. Theleasedocumentspellsoutwhenyourrentisdueeachmonth.

a. true

b. false

14. Fraudulentclaimshaveasignificanteffectonthecostsofprovidinginsuranceprotection.

a. true

b. false

15. Dietinginvolveseatinglessoveranextendedperiodoftimetoloseweight.

a. true

b. false

16. Themanufacturer'ssuggestedretailpricelistedinanewcar'swindowisthe

a. stickerprice.

b. dealerprice.

c. invoiceprice.

d. wholesaleprice.

17. Accordingtoyourtextbook,theplacewherethefinalpapersforthepurchaseofacarareoftencompletedis theFinanceandInsuranceOffice.

a. true

b. false

18. Itisnotpossibletoleaveyourjobandcontinuehealthcoverageunderyourpreviousemployer'sinsurance plan.

a. true

b. false

19. Theamountofmoneyyouborrowwithahomeloanisknownastheprincipal.

a. true

b. false

20. Groupinsuranceislessexpensivetoadministerbecauseofthesmallnumberofpeopleintheplan.

a. true

b. false

21. TheWICprogramprovidesnutritioneducationandfoodforolderadults.

a. true

b. false

22. Beforebuyingausedcar,itisagoodideatohaveamechaniccheckthecar.

a. true

b. false

23. ConsumerReportsisapublicationthatcomparesbrandsandfeaturesofproducts.

a. true

b. false

24. Ifaproductismeasuredingrams,thestoremustshowthepriceforonegramoftheproduct,whichisits

a. saleprice.

b. originalprice.

c. unitprice.

d. discountedprice.

25. Theamountyoupayforalossbeforetheinsurancecompanypaysanythingiscalledyour

a. deductible.

b. coinsurance.

c. risk.

d. installment.

26. Bylaw,youarerequiredtohaveanattorneytofileaclaiminsmallclaimscourt.

a. true

b. false

27. Rentingprovideslessmobilityandfreedomfromresponsibilitythanowningahome.

a. true

b. false

28. Itisbetternottocallthepolicetoinvestigateanautomobileaccidentaslongasnooneisinjured.

a. true

b. false

29. Insurancethatpaysfordamagetoyourcarcausedbysomethingotherthanacollisioniscalled

a. comprehensive.

b. medical.

c. liability.

d. nofault.

30. Theprogramthatprovidesdevelopmentalactivitiesforlow-incomepreschoolchildren,agedthreetofive,is called

a. Kindergarten.

b. HeadStart.

c. GoodStart.

d. Daycare.

31. Themeasureestablishedbythefederalgovernmentthathelpsdeterminewhoiseligibleforwelfarebenefits isthe

a. povertyline.

b. welfareline.

c. socialsecurity.

d. census.

32. Apoordrivingrecordcanincreaseyourpremiums.

a. true

b. false

33. Theamountoftimethatapolicyholdermustwaitafterbeinginsuredinordertogettreatmentforapreexisting conditioniscalledthe

a. waitingperiod.

b. graceperiod.

c. secondperiod.

d. liabilityperiod.

34. Insuranceguaranteesthatyouwillhavenofinanciallosses.

a. true

b. false

35. Amediatorhasthepowertomakeafinal,bindingdecision,whereasanarbitratordoesnothavethispower.

a. true

b. false

36. AnexpirationdateormanufacturingdatedoesnotneedtobeclearlyplacedonaproductsoldintheUnited States.

a. true

b. false

37. Theprogramthatprovidescashpaymentstohelpreplaceincomelostasaresultofretirement, unemployment,disability,ordeathis

a. SocialSecurity.

b. publichousing.

c. welfare.

d. unemploymentcompensation.

38. Anexpert'sdeterminationofthevalueofapieceofpropertyisknownasa(n)

a. premium.

b. appraisal.

c. claim.

d. critique.

39. Homeinsuranceautomaticallycoverseverythinginyourhousehold.

a. true

b. false

40. Insurancethatpaysmedicalanddamageexpensesforyouandyourpassengerscausedbyadriverwithno insuranceiscalled

a. uninsuredmotoristcoverage.

b. propertydamageliability.

c. comprehensive.

d. collision.

41. Malesundertheageof21willpaylessforautomobileinsurancethanfemalesofthesameage.

a. true

b. false

42. Prospectivetenantsshouldcompleteanapartmentevaluationchecklistbeforetheysigntheirrental contract.

a. true

b. false

43. Theamountyoupayasashareoftheremainingexpensesafterthedeductibleispaidunderyourhealth insuranceisyour

a. premium.

b. coinsurance.

c. COBRA.

d. benefit.

44. Bylaw,whichofthefollowingisrequiredtobeincludedintheNutritionFacts?

a. caloriesperserving

b. ingredients

c. percentageofdailyvalues.

d. alloftheabove.

45. Anincreaseinthevalueofapieceofrealestateisits

a. appreciation.

b. depreciation.

c. inclination.

d. revaluation.

46. Aninsurancecontractisa(n)

a. policy.

b. invoice.

c. warranty.

d. lease.

47. Aloantobuyrealestate,suchaslandorahouse,iscalleda(n)

a. mortgage.

b. escrow.

c. lease.

d. asset.

48. Ingeneral,youcanaffordahousethatcostsupto2.5timesyourgrossannualincome.Ifyoumake$42,000 peryearbeforetaxes,andyouhavenodebts,whichofthefollowingamountscouldyouaffordtopurchase ahouse?

a. $130,000

b. $105,000

c. $120,000

d. $125,000

49. Amountsheldinescrowaccountsuntiltaxesandinsuranceareduearenotavailableforthehomeownerto use.

a. true

b. false

50. Aspecialadditiontoaninsurancepolicythatcoversaspecificlossthatisnotcoveredinthestandardpolicy isa(n)

a. rider.

b. point.

c. deductible.

d. option.