Personal Money Management Exam Review

buying a house is similar to rent, but the difference is you are renting

Buying this investment allows you to diversify your your investments with one transaction

In addition to paypal, this entrepreneur also helped start a rocket and electric car company

The first financial bubble occurred in the 1600s in the Netherlands with what flower?

How much a company is worth on the stock market is called

When buying your first home, you are except from paying the

All of the following are rules that Warren Buffet suggests for all investors EXCEPT

Most mobile payment methods use a type of technology called

This organization was initially created to combat counterfeiters in the US in the early 1800s

What is it called when a company first sells shares on the stock market

One effect of counterfeit money is the rise in prices of goods and services. This is called

You can apply for employment insurance not only if you are laid off or fired, but also if you

A common technique to get people to buy luxury items such as Rolex watches

contributing to this helps lower your taxable income and the amount of taxes you have to pay.

Mobile payments is a popular way to pay for goods and service in this African nation

The two largest stock exchanges in the world are located in this city

stock markets determine the price of a particular stock based off of

Credit cards issued by a retail store and can be used only at the retail store are called

A person's FICO score is used in all of the following applications EXCEPT

To determine whether or not a stock is over valued, you should look at the

Making money when the price of the stock goes down is called

The least expensive way to drive a new vehicle is to

Many billionaires have agreed to give at least half of their fortune to charity. It's called

to protect your car when it's not moving, such as theft and vandalism, you need to also buy

When buying a house, closing costs include all of the following EXCEPT

If you spend more money than you make, you can always

If you receive a tax refund, it means

If you make below approximately $12,000, you do not have to pay

All of the following are requirements for money to endure EXCEPT

Sometimes, when the share price of a company gets too high, they will issue a

Every time you apply for a credit card, it allows your credit score by a few points. Its called

In Ontario, HST is charged on everything you buy EXCEPT

People who don't drive nice cars and don't care what happens to it, should not buy

Phrases like “3 out of 4 dentists approve” is using ________ to influence consumers' behavior.

When you deposit money into a bank account, the bank becomes the

There are two credit rating agencies in Canada. They are

According to the movie, The Big Short, the market crashed because of

Credit card companies allow the user to borrow money interest free if you do this

Factors that determine a person's FICO score include all of the following EXCEPT

Good reasons for using a credit card include all of the following EXCEPT

How long it will take to pay off your entire mortgage is called

When deciding on what stock to buy, you should look at their balance sheet which tells you

Trading your goods for another person’s goods/services is known as

In the video Mind over Money, people have a tendency to act ___________ when it comes to money

compound interest allows an investor to grow their money

Entrepreneurs possess all of the following characteristics EXCEPT

People who often go out to eat are using this rationale to justify spending money

To pay off your mortgage sooner, you should use the

Loan sharks operate legally today. They are called

Your ___________ will determine whether or not you get a favourable interest rate with the bank

If you borrow money from a bank or other financial institution, you must pay a fee called

An open mortgage rate is always higher than a closed mortgage rate because

The Canadian organization in charge of producing the nation's bills is

The two main types of money are _____________ and commodity money.

This type of investment involves the investor buying debt. It's called

An irrational compulsion to buy even though they know they shouldn't is called

The theory that explains why people don't save as much money as they should is called

The stock market crash of 1929 was a result of people buying on margin. What does this mean?

Any money made in your ___________ is completely tax free

Leasing a car means

If you are under 18 years old, you do not have to pay ________ on your income.

A company that gives part of its profits to its shareholders is called

Money derives its value from

borrowing money from one card to pay off another credit card is called

The decision making strategy where all action is postponed until options become very limited

When buying a car, it is mandatory to buy this type of insurance

According to Warren Buffet, you should invest, not

The following are all examples of fixed expenses EXCEPT

Investing in stocks is better than something like real estate because

A __________ is usually lower, but can be risky as it can fluctuate and increase unexpectedly

A strategy often used by rival brands such as Coke and Pepsi to get you to buy their product

In Canada, if you don't put a minimum of 20% down to buy a home, you have to pay

The government allows you to take money out from your RSP to buy your first home. its called

To improve your credit score you should

a 1.5 stock split means that if you have 10 shares, you will not have

In addition to helping you save for retirement, contributing to your RSP allows you to

The company is the most expensive share listed on any stock market in the world

The formula used to find the future value of money that hasn't been touched is

Bartering requires two people to have mutual wants. This is called a

One of the conditions you should always put in your offer to buy a house is