The ENTIRE Personal Finance Unit Test Review 1. If having a warranty on a car is important, a person should buy a car that is

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2. Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.

Which questions should she consider before she buys the jacket? Check all that apply. A. B. C. D.

3. In which category do commodities belong? C.

4. Which is an example of a financial change that would require budgetary consideration? B.

5. Why is compound interest preferable to simple interest when investing? D.

6. BONDS are debt certificates that are purchased by an investor.

7. Which is the best question for Joe to ask himself when deciding whether to open a checking or savings account? D.

8. When she finishes entering her transactions, Adrienne realizes that her balance is incorrect. Assuming that Adrienne’s beginning account balance was $320. 00, why is her balance incorrect? D.

9. Which is an example of a short-term investment? B.

10. Which best describes why investing can be such a challenge? C.

11. Credit unions differ from retail banks because they are. A.

12. A high-risk investment is characterized by. A.

13. What is most likely Yuri’s motivation behind buying the pricier pair? D.

14. Why were savings and loans (S&Ls) originally established? C.

15. Which living expense needs to be included in the budget of someone renting an apartment? B