True or False Set
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| Many of today's growing occupation focus on the collection,use, and distribution of information. | True
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| If an employee works 30 hours at an hourly wage rate of $12, the employee's net pay, or "take-home pay" would be $360.00 | False
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| All income earned from employment, including wages, salaries, bonuses, and tops must be reported on Form W-2 | True
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| Paying Bills online is safer and faster than sending a check in the mail | True
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| Unlike, student loans, scholarships do not have to be repaid even if you fail to complete your education | False
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| One way to reduce the cost of credit is to make only the only minimum required monthly payments on your debts. | False
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| The first step in making a major purchase decision is compare prices for different brands | False
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| The value of most homes appreciate, or increase in market value, over time. | True
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| A fair price for a new car lies somewhere between the sticker price and the invoice price. | True
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| A newly married couple's short term goals involve decisions about the near term, sch as saving for their children's education | False
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| Short-term investments are generally less risky than long-term investments | True
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| Both stocks and bonds represent debts that must be repaid by a corporation at a specified future date. | False
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| An individual retirement account (IRA) allows individuals to set aside an unlimited amount of money each year and deduct that amount from their taxable income. | False
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| One way to save money on the cost of insurance is to accept higher deductibles on insurance policies. | True
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| If you rent your residence, you do not need to obtain any property or liability insurance . | False
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| The most common type of health insurance is group insurance, which usually costs less than individual insurance with comparable coverage. | True
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| Generally, filing a lawsuit should be the first step in resolving a consumer dispute. | False
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| Over the last 50 years, the United States has experienced widespread growth in manufacturing jobs with a corresponding decline in service jobs. | False
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| If your regularly hourly wage rate is $12, your overtime rate would be $18 an hour. | True
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| Interest paid on student loans can deducted from gross income to determine adjusted gross income on an individual's federal tax return. | True
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| The balance in your checkbook register should always math the ending balance shown on your monthly bank statement . | False
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| A grant is a form educational funding that does not have to be repaid | True
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| Most credit counselors recommend carrying at least six credit cards in order to maintain a high amount of unused credit. | False
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| An opportunity cost is an expense that occured in the past for which money was spent and cannot be recovered | False
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| Bonnie purchased a home for $150,000 that is now worth $170,000, ad she owes $120,000 on the home. Bonnie's equity in her 50,000. | True
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| If you are a considering purchasing a used car, you can obtain a detailed history of the car from the CARFAX website by entering the current license plate number. | False
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| A family goal of "saving money for a trip to Hawaii" meets the criteria of being specific, measurable, and timely | False
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| A bondholder who purchases a 10-year, $10,000 bond with a contract interest of 6% will receive 20 semiannual interest payments of $300 | True
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| With either a traditional IRA or a Roth IRA, contributions to the account each year can deducted from income on your federal tax return | False
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| Generally, premiums for an insurance policy with a $200 deductible will higher than premiums for a policy with $1,000 deductible. | True
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| Renters insurance does not protect you if someone is injured in your rented home. | False
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| Under the Affordable Care Act, individuals who meet low-income requirements are eligible for federal subsides to help pay health insurance premiums | True
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| One advantage of small claims court is that attorneys usually charge lower fees to appear in small claims court than in trial court. | False
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| Both creditors and debtors have responsibilities to each other | True
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| If you fail to make payments as agreed, a creditor can take you to court and win a judgment against you. | True
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