W!Se Final Review

Which of the following is NOT a government run service?

• Medicare

• Medicaid

• IRA

• Social Security

What's the different between a Loan and a Grant?

• Both loans and grants must be repaid with interest.
• A loan is always interest-free; a grant requires repayment.
• A loan must be repaid with interest; a grant does not need to be repaid.
• A loan is a gift; a grant is a debt.

What type of loan involves high interest rates and hidden fees?

• Predatory loans

• Home equity loans
• Student loans
• Auto loans

How long should you save up for in your Emergency Fund?

• 3 to 6 months of living expenses
• 12 to 18 months of living expenses
• 1 to 2 weeks of living expenses
• Only what you can spare each month

What is the purpose of having a will?

• To outline a person's favorite recipes.
• To provide guidelines for daily exercise routines.
• To determine the best investment strategies for the future.
• The purpose of having a will is to specify how a person's assets and affairs should be managed after their death.

If you owe on multiple credit cards, which service should you consider using?

• Student Loan Services

• Bankruptcy filing assistance
• Debt Consolidation Service

• Credit card rewards program

What does the Department of the Treasury do?

• The Department of the Treasury regulates international trade.
• The Department of the Treasury oversees state governments.
• The Department of the Treasury manages local law enforcement.
• The Department of the Treasury manages federal finances prints money