Mathematics
Selvon
14

1. A _______ is invested by managers in a diversity of stocks, bonds, and other securities. A. preferred stock B. series EE bond C. promissory note D. mutual fund 2. 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. 6 8 + 7 5 – 6 2 5 0 – 5 = B. 6 8 + 7 5 – 5 – 6 2 . 5 0 C. ON/C 6 8 + 7 5 = 5 = 6 2 . 5 0 D. ON/C 6 8 – 5 – 6 2 . 5 0 + 7 5 = 3. 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. $12,005 B. $14,560 C. $27,052 D. $14,000 4. 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. $11,547.00 B. $11,591.28 C. $11,541.28 D. $10,938.00 5. 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 $150.  B. You'll make a profit of $15. C. You'll suffer a loss of $15. D. You'll suffer a loss of $150. 6. Which of the following best describes term life insurance? A. The insured is covered during his or her entire lifetime. B. The insured pays a premium for a specified number of years. C. The insured pays the premium until his or her death. D. The insured can borrow or collect the cash value of the policy. 7. The Hamilton Brush Company issued 2,500 shares of common stock worth $100,000.00 total. What is the par value of each share? A. $400.00 B. $250.00 C. $25.00 D. $40.00 8. The Emerson First National Bank is lending you money to buy a new car. The loan agreement will probably state that you must carry _______ insurance. A. no-fault B. collision C. liability D. medical 9. All insurance is based on a principle called A. division of risk. B. cash value coverage. C. premium earnings. D. investment premiums. 10. The coverage included in an automobile insurance policy that covers property damage is _______ insurance. A. supplemental B. liability C. term D. major medical 11. Which of the following devices imparts ownership in a corporation? A. U.S. Treasury Bill B. Bond C. Savings account D. Stock 12. _______ health insurance coverage pays for at least part of hospital costs and fees. A. PPO B. HMO C. Major medical D. Basic 13. 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. .25 = 118 + 9 / 95 B. 95 – 118 + 9 – 84.25 C. 118 – 9 – 84.25 + 95 D. 118 – 95 + 84.25 – 9 14. 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. Common C. Cumulative preferred D. No-par 15. Which of the following is intended primarily to enhance a person's tax advantage and retirement income? A. Growth fund B. Money market fund C. IRA D. U.S. Savings Bond 16. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car? A. Obtain car insurance. B. Study the car market. C. Shop around for a car loan. D. Test-drive the car. 17. A _______ is a group of people who agree to save their money together and to make loans to each other at a relatively low rate of interest. A. commercial bank B. credit union C. Christmas club D. investment firm 18. 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. $10,000.00 B. $9,138.44 C. $14,247.00 D. $9,141.44 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. $4,788.00 B. $3,800.00 C. $5,472.00 D. $5,928.00 20. With _______ insurance, the insured agrees to pay a specific premium each year until death. A. limited-payment B. endowment life C. whole-life D. half life

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SelmaHanington942

1. A D. MUTUAL FUND is invested by managers in a diversity of stocks, bonds, and other securities. 2. 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? D. ON/C 6 8 – 5 – 6 2 . 5 0 + 7 5 = 3. 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? B. $14,560  28,000 * (1-0.48) = 28,000 * 0.52 = 14,560 4. 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? B. $11,591.28  10,150 + 738 = 10,888 * 1.06 = 11,541.28 + 50 = 11,591.28 5. 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 $150.  (30*25 ¼ ) – (30 * 20 ¼) = 757.50 – 607.50 = 150 6. Which of the following best describes term life insurance? B. The insured pays a premium for a specified number of years. 7. The Hamilton Brush Company issued 2,500 shares of common stock worth $100,000.00 total. What is the par value of each share? D. $40.00  100,000 / 2,500 = 40.00 8. The Emerson First National Bank is lending you money to buy a new car. The loan agreement will probably state that you must carry B. COLLISION insurance. 9. All insurance is based on a principle called A. DIVISION OF RISK. 10. The coverage included in an automobile insurance policy that covers property damage is B. LIABILITY insurance. 11. Which of the following devices imparts ownership in a corporation? D. Stock 12. D. BASIC health insurance coverage pays for at least part of hospital costs and fees. 13. 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? C. 118 – 9 – 84.25 + 95 14. 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? B. Common 15. Which of the following is intended primarily to enhance a person's tax advantage and retirement income? D. U.S. Savings Bond 16. What is the first step that a smart new-car buyer should take before talking to salespersons and putting a deposit on a car? B. Study the car market. 17. A _______ is a group of people who agree to save their money together and to make loans to each other at a relatively low rate of interest. B. credit union 18. 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? B. $9,138.44 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? D. $5,928.00 20. With _______ insurance, the insured agrees to pay a specific premium each year until death. C. whole-life

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