Money Matters Final

Compound intrest is intrest paid on intrest previously earned
True
The purpose of insurance is to transfer risk
True
It is not not necessary to carry to record debit card transactions in your check register because accounts are now online
False
Mutual Funds are comprised of several different stocks
False
A written budget will help you identify how and where you spend your money
True
It is not necessary to carry renters insurance if you live in a college dorm or don’t have items of high value.
False
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Your first “Baby Step” is to pay off all of your debt
False
Diversification means to spread around
True
With all investments, as the risk goes up, the return goes down!
False
Historically, the ten year periods in the history of the stock market have made money
True
The difference between saving and investing is the amount of interest you earn on your money
True
You need a credit card in order to rent cars and check in to hotels
True
The typical millionaire drives a reliable used car
True
If you absolutely have to loan money to help a friend or relative, co-signing is the way to go.
False
Silence is one of the most powerful, pressure-oriented aspects of negotiation
True
Making a good first impression is essential in the interview process
True
The power of cash is immediate
True
There is no interest charged on debit card purchases
True
A good age to open a checking account is between the ages of 13 and 15
True
Your salary is the most important motivator for working
False
Collision insurance pays for the damage to your car if you get into an accident
False
The purpose of insurance is to increase your investments
False
You should always use a realtor when selling a home
True
ARM and balloon mortgages are good options for people with bad credit
False
The multiple listing service (MLS) is the computer system that contains real estate listings from all realtors. We used a website called www.har.com
True