Semester Exam

You should always make sure you have a..

All of the following are true of savings accounts EXCEPT...

Consisting of 12 regional banks and in control of the amount of money in circulation, the _______ is often referred to

Payments to stockholders from company profits are called...

Net worth is equal to..

A tipis also called a gratuity

What type of trade did colonists use to get what they needed and pay their debts?

Online shopping is a likely target for scammers.

A _______ is a guide to acquiring, saving, and spending money, and it helps to build financial independence.

An outstanding check is a check that...

All of the following are reasons a person should reconcile their checking account EXCEPT...

A budget says what will happen with your money, while a cash-flow statement shows what already happended.

How many months does it usually take fr your budget to start working as a budget should?

Currency paper is made from ____.

The best way to budget is..

What should you do if you overspend in one category of your budget?

Which type of currency is the only one still printed in the US?

It is legal to photocopy money as long as it is 150% larger or 75% smaller than the original.

To know your net worth, subtract your liabilities

People in ancient times did not use money to obtain the good or services they needed.

The primary reason people don't budget is because they lack the behavior to stick to a budget

If your assests total more than your abilities, you will have a ___ net worth

An important money principle to consider is that you should __ and __ your money

When is it the right time to start creating and living by a budget?

The Treasury Department will replace a note if more than __________ of the original note remains intact.

Being a spender has many more positives than being a saver

Using credit has not always been socially accepted practice, but it has become..

The United States Secret Service's initial responsibility was to investigate counterfeiting of U.S. currently.

Personal finance is 20% ___ and 80% ____

Your monthly rent payment is an example of a variable expense

The Federal Deposit Insurance Corporation (FDIC) will insure up to ____________ in customer accounts.

What is financial literacy?

When was paper money first printed?

A money principle to keep in mind is to live on ___ you make

A budget will help avoid ____________, which is purchasing items on the spur of the moment.

Because of the difficulty to establish a value of a bartered transaction, the IRS does not tax a bartered exchange.