Personal Money Management Exam Review

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

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

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

If you receive a tax refund, it means

All of the following are requirements for money to endure EXCEPT

Investing in stocks is better than something like real estate because

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

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

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

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

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

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

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

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

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

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

Leasing a car means

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

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

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

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

Any money made in your ___________ is completely tax free

compound interest allows an investor to grow their money

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

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

Loan sharks operate legally today. They are called

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

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

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

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

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

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

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

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

In Ontario, HST is charged on everything you buy EXCEPT

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

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

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

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

Entrepreneurs possess all of the following characteristics EXCEPT

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

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

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

There are two credit rating agencies in Canada. They are

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

Money derives its value from

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

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

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

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

To pay off your mortgage sooner, you should use the

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

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

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

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

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

According to Warren Buffet, you should invest, not

Most mobile payment methods use a type of technology called

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

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

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

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

The least expensive way to drive a new vehicle is to

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

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

The following are all examples of fixed expenses EXCEPT

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

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

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

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

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

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

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

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

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

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

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

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

To improve your credit score you should