Economics and Personal Finance

Which type of account has very high liquidity (easy to access), low or no interest, and low minimum balance? 

• Money Market Account
• Investment Retirement Account (IRA)
• Checking Account
• Certificate of Deposit

Which of the following is the most important to consider when planning a budget?

• A budget for unexcpected expenses before expected expenses
• Budget for fixed expenses Before flexible expenses
• Budget for needs before wants
• Budget for unexpected events before expected expenses

an unexpected event or circumstance without deliberate intent.

• Accident Only
• Accident 
• Actuary 
• All-Risk

coverage that protects against financial loss because of legal liability for motor vehicle related injuries (bodily injury and medical payments) or damage to the property of others caused by accidents arising out of ownership, maintenance or use of a motor vehicle (including recreational vehicles such as motor homes). Commercial is defined as all motor vehicle policies that include vehicles that are used primarily in connection with business, commercial establishments, activity, employment, or activities carried on for gain or profit. No Fault is defined by the state concerned.

• Auto Physical Damage

• Automobile Liability Insurance

• Auto Liability

• Chartered Property Casualty Underwriter (CPCU)

Money charged for the insurance coverage reflecting expectation of loss.

• Premium
• Premiums Earned
• Premiums Net
• Premiums Written 

liability coverage for contents within a renter's residence. Coverage does not include the structure but does include any affixed items provided or changed by the renter.

• Term Insurance
• Self-Insurance 
• Renters Insurance
• Retrocession 

life insurance payable only if death of insured occurs within a specified time, such as 5 or 10 years, or before a specified age.

• Underwriter
• Term Insurance
• Title Insurance 
• Universal Life Insurance

The benefits of renting include 

• less initial capital outlay 
• • increased mobility 
• fewer maintenance expenses 
• all the above

The benefits of buying a home include 

• possibility of building equity 
• right to deduct interest on Federal Income Tax
• opportunity to personalize to own taste. 
• All the above

What are some expenses related to utilities? 

• installation 
• deposits 
• monthly payments for service 
• all the above