Math

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1. Jane has a checkbook balance of \$68.00. She then writes two checks, one for \$5.00 and one for \$62.50.
She also deposits \$75.00. She then uses her calculator to determine her new balance. Which of the
following is the correct series of keys she should press?
A. ON/C 6 8 + 7 5 = 5 = 6 2 . 5 0
B. 6 8 + 7 5 – 6 2 5 0 – 5 =
C. 6 8 + 7 5 – 5 – 6 2 . 5 0
(D). ON/C 6 8 – 5 – 6 2 . 5 0 + 7 5 =

2. The major difference between a calculator and a computer, when performing calculations, is that a
(A). calculator is slower and needs more human assistance.
B. computer is faster but needs more human assistance.
C. calculator is faster but needs more human assistance.
D. computer is slower but needs less human assistance.

3. What type of stock receives an equal part of the profits on each share to be distributed after all other
obligations of a company have been satisfied?
A. Preferred
B. Cumulative preferred
C. No-par
(D). Common

4. Which of the following best describes term life insurance?
A. The insured is covered during his or her entire lifetime.
B. The insured can borrow or collect the cash value of the policy.
C. The insured pays the premium until his or her death.
(D). The insured pays a premium for a specified number of years.

5. In a health insurance policy, a statement that an applicant won't be covered for a certain pre-existing
condition is called a/an
A. waiting period.
B. supplement.
C. major medical coverage.
(D). exclusion.

6. Lorenzo has a checkbook balance of \$118.00. He writes two checks, one for \$9.00 and one for \$84.25.
He then deposits \$95.00. Finally, he uses his calculator to determine his new balance. Which one of the
following series represents the correct order in which he should press the keys on his calculator?
(A). 118 – 9 – 84.25 + 95
B. .25 = 118 + 9 / 95
C. 95 – 118 + 9 – 84.25
D. 118 – 95 + 84.25 – 9

7. With _______ insurance, the insured agrees to pay a specific premium each year until death.
A. half life
(B). whole-life
C. limited-payment
D. endowment life

8. Ray Cupple bought a basic car costing \$10,150.00, with options costing \$738.00. There is a 6% sales tax
in his state and a combined \$50.00 license and registration fee. What was Ray's total cost?
A. \$10,938.00
(B). \$11,591.28
C. \$11,547.00
D. \$11,541.28

9. If you have earned income, which of the following retirement devices must you contribute to, by law?
A. IRA
(B). Social security (FICA)
C. Vesting plan
D. Pension plan

10. Which of the following devices imparts ownership in a corporation?
A. Bond
B. U.S. Treasury Bill
C. Savings account
(D). Stock

11. John Gray bought a basic car for \$8,250.00, with options that cost \$324.00. There's a 6% sales tax in
his state and a combined \$50.00 license and registration fee. What was John's total cost?
A. \$14,247.00
B. \$10,000.00
C. \$9,141.44
(D). \$9,138.44

12. Marlin Davies buys a truck for \$28,000. In three years, the car depreciates 48% in value. How much is
the car worth in three years?
A. \$14,000
B. \$12,005
C. \$27,052
(D.) \$14,560

13. A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that
stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements
would be true?
A. You'll make a profit of \$15.
B. You'll suffer a loss of \$150.
(C). You'll make a profit of \$150.
D. You'll suffer a loss of \$15.

14. _______ health insurance coverage pays for at least part of hospital costs and fees.
A. HMO
B. Major medical
(C). Basic
D. PPO

15. A master plan is devised for
A. investments.
B. short-term goals.
(C.) long-range goals.
D. emergencies.

16. Car insurance that pays for your injuries when you're in an accident in your car is _______.
A. collision
B. liability
(C). medical
D. comprehensive

17. A share of stock in the Bree Medical Supply Company is quoted at 35 1/4 . Suppose you hold 20
shares of that stock, which you bought at 31 1/2. If you sold your stock at 35 1/4, which of the following
would be true?
(A). You made a profit of \$75.00.
B. You suffered a loss of \$630.00.
C. You made a profit of \$705.00.
D. You suffered a loss of \$75.00.

18. The coverage included in an automobile insurance policy that covers property damage is _______insurance.
A. term
(B). liability
C. major medical
D. supplemental

19. Jane Marko buys a car for \$11,400.00. In three years, the car depreciates 48% in value. How much is
the car worth in three years?
A. \$3,800.00
(B). \$5,928.00
C. \$4,788.00
D. \$5,472.00

20. Which of the following is intended primarily to enhance a person's tax advantage and retirement
income?
A. Money market fund
(B). IRA
C. U.S. Savings Bond
D. Growth fund

Which are wrong?

• Math -

1. D.

2. A.

6. A.

8. Cost = 1.06(10,150+738+50) =

9. B.

10. D.

11. Cost(8,250+324+50) =

12. Value = (1-0.48)*28,000 =

18. B.

19. Same procedure as #12.

20. B. IRA

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