1. A debit card and a check do the exact same thing in terms of your balance in your checking account. (Points: 2) True False 2. You can find your total capital by _____ . (Points: 2) totaling up all your assets totaling your assets and subtracting your debts determining how much you would have if you sold everything you own 3. You can write a check mark next to your transaction note in your check register when that particular check _____ . (Points: 2) is written clears the bank bounces 4. You should ______ write a date in the future on a check and you should ______write any part of your check in pen. (Points: 2) always, always always, never never, always never; never 5. Your ability to repay your loan with your current income is your _____ . (Points: 2) capacity character capital collateral 6. The type of auto insurance that pays you if a tree falls on your car is called _____ coverage. (Points: 2) collision liability comprehensive 7. The type of interest calculation in which interest is calculated on both the principal and any interest gathered on that principal is called _____ . (Points: 2) simple interest compound interest 8. The type of investment in the following list that insures that you will not lose your money is _____ . (Points: 2) a stock a mutual fund a certificate of deposit 9. The type of life insurance that is only valid while you continue to pay for it is called _____ . (Points: 2) whole life insurance term life insurance stop-loss insurance 10. The total dollar amount of all final, new goods and services produced in a country is called the country's _____ . (Points: 2) GDP CPI GNP FDIC 11. When a lender takes back something to sell that you're paying for to make up for missed payments, the process is called _____ . (Points: 2) deferment bankruptcy repossession 12. When balancing your checkbook, you should take the balance calculated by the bank and then _____. (Points: 2) add your deposits since the statement, add your outstanding checks, and subtract your withdrawals since the statement add your deposits since the statement, subtract your outstanding checks, and subtract your withdrawals since the statement subtract your deposits since the statement, subtract your outstanding checks, and add your withdrawals since the statement 13. When the prime interest rate falls, the news is _____ . (Points: 2) good for borrowers and bad for savers bad for borrowers and good for savers good for the government and bad for the general public 14. When you have your bank or another organization automatically take money out of your paycheck amount to put into savings or apply toward a bill, you are utilizing _____ . (Points: 2) direct deposit payroll deduction direct deduction 15. When you write a check for more than you have in your account, it's called a/an _____ . (Points: 2) overdraft registered check endorsed check postdated check 16. Which of the following tips will not reduce your cost of insurance? (Points: 2) raising your deductible installing smoke alarms getting insurance from different companies taking a driver training course 17. With regard to savings, liquidity is a measure of _____ . (Points: 2) how quickly and easily you can get cash from your account how often interest compounds the size of the account's principal an account's return on your investment 18. If you invested $2,500 in a very successful mutual fund (12% return a year), how long would it take for you to have a balance of $5,000 in that account? (Points: 2) 2 years 4 years 6 years 8 years 9 years 12 years 19. If you lower your deductible amount, then the cost of your premium will _____ . (Points: 2) increase stay about the same decrease 20. Interest that you earn on a savings account is _____ . (Points: 2) the money that you deposit that continues to grow as long as the account is active money that financial institutions pay you for the use of your money the balance in your savings account at the end of a certain period the money you must pay in order to keep a savings account active 21. Negative information stays in your credit report _____ . (Points: 2) for three years for five years for seven years forever 22. Of the following types of accounts, which pays the highest total interest ove