Test Bank: Ecology
all of the following are true about prepaid cards EXCEPT:
a-prepaid cards typically include a lot of fees
b-prepaid cards are a useful option for someone who is unbanked to make online purchases
c-prepaid cards are a great way to build credit
d-prepaid cards are usually accepted anywhere that debit and credit cards are accepted -
ANSWERSc-prepaid cards are a great way to build credit
you are developing a savings plan and using short-, medium-, and long term goals to motivate you.
Which represents possible possible goals from short term to long term ?
a-retirement, a house down payment, college tuition
b-a new cell phone, college tuition, a house down payment
c-a new cell phone, dinner with friends this weekend, a new bike
d-retirement, college tuition, a vacation - ANSWERSb-a new cell phone, college tuition, a house
down payment
Juan saved $1000 from his summer job cleaning pools. Which of these account types would work
best for him i he doesn't need access to the money for a number of years and wants to earn the
highest interest rate? - ANSWERScertificate of deposit
Monthly income should be separated as- 50% should go to ____, 30% should go to ____, and 20%
should go to ____ - ANSWERSneeds, wants, and savings
which represents the best time to start saving for your retirement? - ANSWERSAs soon as you have
your first full time job.
True or false: The majority of americans do NOT have an adequate emergency fund or sufficient
amounts of money saved for retirement. - ANSWERSTrue
Experts recommend that you accumulate enough to cover 3-6 ______ of expenses in your
emergency fund. - ANSWERSMonths
all of the following are true about prepaid cards EXCEPT:
a-prepaid cards typically include a lot of fees
b-prepaid cards are a useful option for someone who is unbanked to make online purchases
c-prepaid cards are a great way to build credit
d-prepaid cards are usually accepted anywhere that debit and credit cards are accepted -
ANSWERSc-prepaid cards are a great way to build credit
you are developing a savings plan and using short-, medium-, and long term goals to motivate you.
Which represents possible possible goals from short term to long term ?
a-retirement, a house down payment, college tuition
b-a new cell phone, college tuition, a house down payment
c-a new cell phone, dinner with friends this weekend, a new bike
d-retirement, college tuition, a vacation - ANSWERSb-a new cell phone, college tuition, a house
down payment
Juan saved $1000 from his summer job cleaning pools. Which of these account types would work
best for him i he doesn't need access to the money for a number of years and wants to earn the
highest interest rate? - ANSWERScertificate of deposit
Monthly income should be separated as- 50% should go to ____, 30% should go to ____, and 20%
should go to ____ - ANSWERSneeds, wants, and savings
which represents the best time to start saving for your retirement? - ANSWERSAs soon as you have
your first full time job.
True or false: The majority of americans do NOT have an adequate emergency fund or sufficient
amounts of money saved for retirement. - ANSWERSTrue
Experts recommend that you accumulate enough to cover 3-6 ______ of expenses in your
emergency fund. - ANSWERSMonths
