Economics End of Semester Test 2023 with complete solution (A+ Guaranteed)

1. Being debt-free within the next 15 years is an example of which goal?: Be- ing debt-free within 15 years is an example of a long-term goal. 2. Yohann lost his job due to the recession. He is still financially secure due to investments he made several years ago. What kind of example is Yohann setting? A. that he has more money than other people B. in a recession, people will definitely lose their jobs C. that he is very lucky D. the importance of financial planning E. the art of predicting the future: the importance of financial planning 3. What is the source of Mary's portfolio income? Mary trades in that involves buying and selling of stocks and mutual funds. She is a major shareholder and the CEO of a large corporation. She needs capital to expand the company. Mary can raise capital by issuing . This will assure lenders that Mary's company will repay the loan.: Mary trades in real paper assets that involves buying and selling of stocks and mutual funds. She is a major shareholder and the CEO of a large corporation. She needs capital to expand the company. Mary can raise capital by issuing bonds . This will assure lenders that Mary's company will repay the loan. 4. Match each activity that generates portfolio income to the context in which it is generated.: It is a contract whose value derives from other financial assets. = derivative It represents ownership in a corporation. = stocks It involves buying and selling of stocks, bonds, mutual funds, derivatives, and currencies. = trading paper assets It is a financial investment that pools money from investors to invest in securities. = mutual funds 5. What is the major disadvantage associated with both online and mobile banking? A. bank errors B. device theft C. computer malware D. paperless statements E. check register errors: computer malware 6. Match the correct EFTA and PCI Standards.: EFTA standards = report a stolen debit card, place a stop payment on recurring payments PCI Standards = protect credit card data, maintain a secure network 7. What is the purpose of NCUA Lending Regulations? A. to educate consumers on their rights for fair credit reporting B. to educate the public on the compliance rules C. to educate credit unions on how to follow federal guidelines D. to educate credit card companies on keeping records E. to educate corporations on making disclosures avaialable: to educate credit