Question: Which of the following is NOT a component of an effective savings plan?

Answer Choices:
Put loose change in a piggy bank
Pack lunch instead of eating out
Go to McDonald’s instead of Starbucks
Deposit money weekly into savings

Answer: Go to McDonald’s instead of Starbucks.

 

Question: Which factor should James compare when choosing between $20,000 and $40,000 in loans?

Answer Choices:
Monthly payment only
Length of repayment and total interest
Amount divided by payments
Monthly interest only

Answer: Length of repayment and total interest.

 

Question: How long does a fraud alert remain on a credit file?

Answer Choices:
10 days
45 days
60 days
90 days

Answer: 90 days

 

Question: Which of the following is NOT true of simple interest?

Answer Choices:
It is calculated on the original principal
It does not include accumulated interest
It costs more over time than compound interest
It is used for automobile loans

Answer: It costs more over time than compound interest.

 

Question: Which statement about IP addresses is NOT true?

Answer Choices:
No two IP addresses are the same
They identify exactly who is using hardware
Every website has an IP address
Your IP is sent to websites you visit

Answer: They identify exactly who is using hardware.

 

Question: In the email address [email protected] , what is the section after the @ symbol?

Answer Choices:
Host
Company
Domain
Group

Answer: Domain

 

Question: Which information is acceptable in work or school email?

Answer Choices:
Sample discussion responses
Assignments pasted in body
Social Security numbers
Chain letters

Answer: Sample discussion responses.

 

Question: Which benefit applies to government‑subsidized loans?

Answer Choices:
Forgiveness programs
Extended repayment
Deferred payments
All of the above

Answer: All of the above

 

Question: Which option is BEST for tracking expenses immediately?

Answer Choices:
Spreadsheet
Paper and pencil
Mobile app
Banking website

Answer: Mobile app

 

Question: Simple and compound interest vary in total interest paid. Borrowing $1000 at 10% would result in what in the second year?

Answer Choices:
Both total $100
Simple interest totals $200
Compound interest totals $225
Simple interest totals $100 and compound interest totals $110

Answer: Simple interest totals $100 and compound interest totals $110.