Finance Certification Test Review

Helps creditors assess the risk of an individual when giving them a loan.

This happens when you write a check and don't have funds in your account to cover the check

This reduces your taxable income

If you have a $150,000 home and you still owe the bank $100,000, what is true?

If the total amount you can borrow on a credit card is 3,000, 3,000 is the

A legal way to get rid of some of your debt without paying your creditors the full amount owed

This kind of insurance protects the other person's property when you are at fault

A way to loan money to the government

Person who can legally buy and sell stocks for you.

A type of loan specific to real property

Simplest way to determine how long it will take your investment money to double

To sign a check on the back before depositing

Ease of which you can convert an asset to cash

Which of the following is NOT one of the 3 c's of credit?

ATM stands for

Which of the following is NOT a standard payroll deduction?

Increase in price of goods

This is a type of savings option

Common type of company provided retirement program

Set amount you have to pay to visit a dr.

Which of the following investments is a pre-tax investment?

Something offered as security on a loan

The amount of cash you pay on something that you finance

Total value of assets owned minus total debt owed.

Getting someone else to sign a loan for you because your credit and/or income isn't enough

Which of the following is NOT a major US stock exchange?

This occurs when your investment increases in value and you realize the gain by selling it.

The cost of borrowing money

When revenue exceeds costs

Ease of which you can convert an asset to cash

Card that automatically deducts cash from checking account when used

The opposite of a fixed interest rate

Which of the following regulates the financial industry?

What occurs when a person or business spends more than they earn in a year?

Kind of stock that includes ownership in a company and voting rights.

Paid Vacation time is considered a....

This kind of life insurance builds cash value

The name of my youngest kid and also what plans your estate upon death

Which is more?

A mortgage payment would usually be considered a

A card that can be used like a debit card but has a pre-set amount of cash added to it

Easiest way to have a diverse stock portfolio

What is an automatic deduction from your paycheck to cover a legal settlement called?

Which term is the same as net income?

Reduces the amount of income tax you pay