1. Which event will have the greatest impact (positive or negative) on one's net worth after one month?
A: Buy a used car at market value for $15,000
B: None of these events will impact the net worth of an individual
C: Buy a new car at market value for $15,000. Car depreciates 20% upon transfer of ownership.
D: Lease a $15,000 car on a 3 year lease. The monthly payment is $199 and all lease payments are required in the lease.

2. If a home mortgage has a term of 15 years and a payment of $1,000, what is the loan amount? (assume that there are no interest-free mortgages)
A: $180,000
B: Less than $180,000
C: $200,000
D: $360,000

3. If a home buyer puts 20% down on a $200,000 house and uses a mortgage to borrow the rest, how much will the mortgage be (excluding any closing costs)?
A: $160,000
B: $200,000
C: $240,000
D: $180,000

4. Which of the following will increase your net worth the most?
A: Sell a bike valued at $75 for $75 cash
B: None of these increase net worth
C: Purchase a used car valued at $7,000 with an Auto Loan for $7,000
D: All of these increase net worth
E: Purchase of house valued at $150,000 with $25,000 down and a mortgage of $125,000

5. Sub-prime lending rates are 1) __________ than prime lending rates and are for people with 2)__________ credit.
A: 1) lower 2) poor
B: 1) lower 2) good
C: 2) higher 2) good
D: 1) higher 2) poor

6. Which loan type isn't secured with collateral?
A: All of the answers are correct
B: Mortgages (home loans)
C: None of the answers are correct
D: Small business loans
E: Subsidized student loans
F: Auto loans