Financial Literacy WISE/Semeter Test Review

Which of the cash management tool is the liquid?

Who should purchase life insurance?

According to the Federal Truth in Lending Act, where must the terms of credit cards be posted?

An individual's financial plan will vary depending upon one's

What category is NOT included when determining an individual's credit score?

A loan for a specific amount that must be repaid in full by a specific date is a/an

When may a person view his/her credit report for free?

A summary of your qualifications for a job is a/an:

The price of borrowing money is:

When investing, it is best to

Money earned by the hour is

The "Rule of 72" is useful in calculating the:

Withdraw money from a certificate of deposit (CD) before the maturity date, you are charged:

Which federal department oversees the 12 federal banks that are located across the U.S.?

What type of insurance covers the contents of an apartment?

What are the benefits of insurance?

An liability policy has a quote of 25/50/10 limit. This means:

Which of the following types of investments has the lowest risk and lowest rate of return?

References are

An entrepreneur is

The lack of sufficient funds to cover the full amount of a check is a/an

Which of the following investments have the highest risk?

Which investment is automatically diversified?

Money earned annually on a fixed basis.

The speed and ease you can turn your investment into cash refers to

Checks issued by a depositor but not yet reported on a bank statement are considered a/an

Diversification means to:

The simple form to figure your annual income tax return if you are single w/ no dependents

A credit card is ____ credit.

What is the process of earning interest on interest called?

What do financial experts recommend an individual's have for emergencies in a savings account?

A formal meeting that is used by an employer to assess the qualification of an applicant is:

A person named in a life insurance policy to receive the money once the policy holder dies:

Which of the following is NOT considered when analyzing a person's creditworthiness?

When reviewing a credit card bill, which amount must be paid each month?

The original amount of money invested or saved is the

Housing is on average the highest expense. An individual should not go over __ of their income.

Assets (what you own) minus your debts (what you owe) is:

How does a credit score financially affect an individual?

A co-signer is a person who

What does Social Security fund?

If you work for a company you are considered a/an ___ of the company.

What is the first step that should be completed when creating a spending plan?

An entrepreneur should be a hard worker and self motivated. They should also be:

What does "Pay Yourself First" mean?

A legal action which requires a portion of a person's income be withheld from their paycheck.

What expenditure if the largest portion of one's income on average?

Employee benefits typically cost an employer what percentage of your pay?

U.S. currency is known as ____ money because it is only backed by the gov'ts promise.

A card that automatically deducts money from checking account when it is used for a purchase

The practice of working at home by using a computer, rather than commuting to work.

What factors affect the Time Value of Money?

In the future, a dollar will be worth ___ due to inflation.

What does the 70-20-10 rule represent?

All of the following could help an individual establish good credit except:

To bring a bank statement and your record (check register) into agreement is to __ your account

Referring to debt, what does the 20-10 rule represent?