PBMF Final Exam QUESTIONS AND ANSWERS 100% score (Newest 2025) Wise consumers always understand their needs & wants before they buy. - Correct Answers ✅true an example of fraud would be a salesperson telling a customer, "This is the best car on the market today." - Correct Answers ✅false class-action courts help consumers resolve cases involving small amounts of money - Correct Answers ✅false good money management begins with an understanding of your current financial status - Correct Answers ✅true items of value are called liabilities - Correct Answers ✅false a credit report is a report that summarizes your current financial condition, acknowledges your financial needs, and sets a direction for your future financial activities. - Correct Answers ✅false estate planning involves the accumulation and management of property during one's lifetime and distribution of one's property at death. - Correct Answers ✅true 1 / 2
PBMF Final Exam QUESTIONS AND ANSWERS 100% score (Newest 2025) clearing refers to the paying of checks among different banks
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except for certain retirement accounts, the FDIC insures all savings accounts in the same name at a bank up tp $1,000,000. - Correct Answers ✅false common taxes on purchases are sales tax and gift tax - Correct Answers ✅false credit is the privilege of using someone else's money for a period of time - Correct Answers ✅true a down payment is a payment of part of the purchase price - Correct Answers ✅true principal + rate = interest - Correct Answers ✅false the first step someone with credit problems should consider is filing for bankruptcy - Correct Answers ✅false usually, the safest investments have the lowest yields - Correct Answers ✅true