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The City - Financial Test Review Flashcards | StudBud
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The City - Financial Test Review
The City - Financial Test Review
31 terms
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A review of #financialterms and concepts we have learned while working through The City.
Flashcards
31 cards
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Practice quiz
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Questions
31
Answers
1
An unsecured loan certificate issued by a company, backed by general credit
Dividends
Debenture
Secured investment
Debt
2
When your spending is higher than your income
Bleeding
Surplus
Less
Deficit
3
EI and CPP being taken off of your cheque are examples of
gross income
investments
deductions
social services
4
The number you alone should know that allows access to your credit/debit cards.
PEN
PIN
Passphrase
Code
5
An expense that is the same amount every month
Variable
Fixed
Want
Need
6
Paying money to make sure your possessions are protected
Investing
Insurance
Deposit
A Scam
7
When interest is added to the principal sum of a loan or investment every month/year
Crushing debt
Simple interest
Compound interest
Scaling interest
8
EFT stands for
Electronic Financial Teller
Electronic Funds Transfer
Efficient Fundraising Transfer
Efficient Funding Techniques
9
Which is NOT an advantage of using Credit Cards?
Rewards points
Free money (cash back rewards)
Flexibility with finances
It is accepted EVERYWHERE
10
Who is not one of the characters in The City?
Jack
Liam
Indigo
Rio
11
Which is not a category in the 1 - 2 - 3 system?
essential for healthy living
needs
not essential but important
not essential not important
12
Which is NOT an institution that provides services such as accounts, debit cards and loans?
Banks
Trust companies
Credit Unions
The Government
13
Final Question: Which type of insurance deals with cars?
Casualty
GAP
Property
Collision
14
Investment program funded by shareholders that trades in holdings and is professionally managed
Mutual fund
Dividend
Dragons Den
Stock market
15
Something that you desire but don't need is....
a desire
a want
a requirement
a need
16
What is phishing?
Living off of compound interest
Investing in the stock market
The act of catching fish
Posing as a company to steal money or information
17
What is a common variable expense?
Groceries
Buying a car
Rent
Cell bill
18
A government registered savings plan for your children's education
RESPCT
RESP
EFT
RRSP
19
What is Liquidity?
the availability of liquid assets (Cash)
flowing with the market
An expensive energy drink loved by Rio
A deductible after an accident
20
During a claim: Money that you are required to pay before your insurance 'kicks in'
premium
deductible
debt
return
21
What is a common fixed expense?
Gas
Car repairs
Food
Car insurance
22
Things that you own that have financial value
surplus
asset
expenses
wants
23
Money that you receive from your employer or from other sources
Credit
Cash
Expenses
Income
24
Someone who owns shares in a company
CEO
Shareholder
Identity theif
Owner
25
A number that describes your history using credit
Credit score
Equity
Financial score
Liquidity
26
A card that takes money directly out of your bank account
Calling card
Insurance card
Debit card
Credit card
27
They money that you pay each month (or yearly) for insurance
Premium
Assets
Liquidity
Deductible
28
What is the rule of 72?
Taking 72 months to pay off a credit card
Amount of time it take to double your money at a given rate
Women get paid 72 cents on dollar compared to men
Putting 72 dollars in your piggy bank each month
29
Which section do you understand the least?
Credit and debit
Savings and banking
Investment
Insurance
30
What is a RRSP?
A high risk investment (like stocks)
A song by Aretha Franklin
A Bank account
A government retirement savings plan
31
What is a T4
Extra strength Tylenol
History of payment and deductions through the year
a line of credit
A slip attached to every paycheck
