stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Money Management Flashcards | StudBud
Explore
/
Duplicate of Money Management
Duplicate of Money Management
27 terms
·
StudBud Administration
·
32 plays
Money Management #moneypowerreview #moneymanagement W!SE
Flashcards
27 cards
F
Practice quiz
P
Host live
L
Questions
27
Answers
1
A good example of a well-stated financial goal is
Buy a $25,000 car
Buy a house
Become financially independent
Pay off $5,000 in credit card debt in two years
2
United States currency is considered
Monopoly
Fiat
Commodity
Representative
3
One of the reasons cigarettes are so expensive is that
the tobacco industry imports most of the tobacco.
the government imposes an excise tax on them.
Tobacco supply is controlled by the Federal Trade Commission
the cost is controlled by the Food and Drug Administration
4
Time value of money
value of money increases over time
value of money decreases over time
value of money remains the same over time
5
A soda is priced $1.00, the term money gives products value
medium of exchange
bartering
representative
store of value
6
A clear understanding of your personal values will help you to
make choices that reflect what is important to you
to save effectively
to spend money on material goods
increase your anxiety about consumer and financial decisions
7
You realize you are going over your budget, which expense can you change/modify
Fixed Expense
Variable/Flexible
8
If you have a dispute about your credit report, you first contact
credit bureau
credit union
the company
the bank
9
How much is this employee make this year?
$800.00
$3,373.83
$581.97
$10,800.00
10
One of the benefits of holding an investment for over a year is that the
money earned on the investment will be considered tax-free
I don't know!
fees will not be charged when you sell it
capital gains will be taxed at a lower rate
11
The term that best describes your net pay after taxes are deducted is
total revenues
take-home pay
assets
net worth
12
surplus means you do not have enough
True
False
13
The goal of a budget is to
save money
balance expenses and income
14
Financial planning helps individuals to:
have strategies for saving and investing
guarantee future income
achieve all goals by set target dates
eliminate risk on investments
15
How much did this employee take home?
$581.97
$800.00
16
Which of the following is consider a mandatory deduction
Health Insurance
403 B
401 K
FICA
17
How can you increase your net worth?
decrease your liabilities
take out a loan
get a credit card
invest in stocks
18
Which of the following is considered a great investment
Cars
Shoes
stamps
Education
19
You can set up an Individual Retirement Account at
a real estate agency
a bank
an insurance agency
a small loan company
20
Which of following is
NOT
considered a fixed expense
Mortgage
Rent
Groceries
Car Note
21
When should you start to contribute to your retirement plan?
Soon as you get a place
Soon as possible
take your time
After a year
22
Debt ratio shows the relationship between debt and net worth. The lower the ratio the
worse off financially the person is.
better off financially the person is.
less liquid assets the person has.
more liquid assets the person has.
23
Gift cards might have an inactivity fee
True
False
24
Expenditures that remain constant from one time period to another are:
Current expenses
Fixed expenses
Variable expenses
Steady assets
25
Which of the following is
NOT
true when you pay off your mortgage
you can sell the house
you own the house
you don't have to pay taxes on the property
no more month payments
26
How do you increase your home equity?
refinance
skip a payment
pay your mortgage every month
take out a second loan
27
Which of following are
NOT
an employer sponsored retirement account
401K
IRA
403 B
