Personal Finance - Unit 1 Review

The trade-0ff made by making one choice instead of another is referred to as a(n) ______.

• Trade Decision

• Economic Choice

• Personal Reference

• Opportunity Cost

Which of the following would not be a part of a person's salary?

• Health Insurance

• Paid Vacation

• Coffee Breaks

• Retirement Plan

An example of a highly liquid asset would be a ____.

• Savings Account

• Bond

• House

• Retirement Account

What acronym represents the concept of the Market Basket Effect?

• PCI

• CPI

• ICP

• PIC

Which of the following is not a cost of renting?

• First and last months' rent

• Deposit(s)

• Renter's Insurance

• These are all costs of renting

____ jobs/careers tend to have higher wages due to the Laws of Supply and Demand

• Many

• Few

• Select

• Some

A(n) _____ degree usually takes 8 years to completed. This is known as an advanced degree.

• Associates

• Bachelors

• Masters

• Doctoral/Professional

A(n) _____ degree usually take 6 years to complete. This is known as an advanced degree.

• Associates

• Masters

• Bachelors

• Doctorial/Professional

This type of mortgage fluctuates with the interest rates set by the Federal Reserve Bank

• Fixed-Rate

• Adjustable-Rate

• Neat-Rate

• Organized-Rate

HOA is an abbreviation for a ____.

• Homeowners Association

• Home Occupancy Agreement

• Housing Opportunity Act

• Houseing Oversight Authority