If Your Monthly Expenses Total $2,500, You Should Save at Least

question 10

Multiple Choice

If your monthly expenses total $2,500, you should save at least _______ in an emergency fund before focusing on your investment program.

• A) $1,000
• B) $2,500
• C) $5,000
• D) $7,500
• E) $10,000
• F) $12,500

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Definitions:

Material Term

An essential clause or provision in a contract that significantly affects the rights and obligations of the parties involved.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly with the intent to deceive and induce another to part with something of value or to surrender a legal right.

Deceit

A tort that arises when a party suffers damage by acting upon a false representation made by a party with the intention of deceiving the other.

Valid Contract

An agreement between two parties that is recognized by law and is enforceable by the legal system.