4 - Visualizing Wealth and Personal Finance

Title

4 - Visualizing Wealth and Personal Finance

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Download Visualizing Wealth and Personal Finance Quiz 4 ANSWERS.pdf (105 KB)

Description

Part 4 of Visualizing Wealth and Personal Finance - should I get a car loan??

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Publication Date

Spring 2020

City

New Orleans

Comments

=== Self-quiz (see attachment for answers) ===

4-car loan quiz

1) What is it called when you owe more on an asset than its worth?

  1. Underhanded
  2. Underwater
  3. Unbelievable
  4. Uncool

2) What is the problem with owing more on an asset than its worth?

  1. When circumstances change, you can get in big financial trouble
  2. You have to pay more each month
  3. Your friends might get jealous of your nice stuff

3) What happens if you wreck a car worth $8,000 when you owe $10,000 (with no gap insurance)?

  1. Insurance takes care of everything, you pay nothing
  2. Insurance gives you $10,000, since that’s what you owe
  3. Insurance gives you $8,000, since that’s what the car is worth – you need to pay this plus $2,000 more to your financer

4 - Visualizing Wealth and Personal Finance

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