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PF Savings Tools ( Use w/ FEFE for Personal Finance) Flashcards | StudBud
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PF Savings Tools ( Use w/ FEFE for Personal Finance)
PF Savings Tools ( Use w/ FEFE for Personal Finance)
34 terms
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Savings Tools , Personal Finance
Flashcards
34 cards
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Practice quiz
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Questions
34
Answers
1
Interest varies depending on the specified length of time and amount of money deposited
Certificate of Deposit
Checking
Money Market
Savings
2
The initial amount that you invest or deposit?
Interest
Principle
Lump Sum
Check
3
Features of Money Market Accounts?
Tiered Interest Rates
A & B
Set Period of Time
Minimum Balance
4
Savings tools are a beneficial money management tool because they are
Secure & Liquid
Variable
Risky
Cheap & Easy
5
Portion of money that is not spent on routine expenses:
Deductions
Gross Income
Earnings
Savings
6
Which account would you open to use bill pay and direct depositing?
Certificate of Deposit
Savings
Checking
Money Market Account
7
Account with the lowest interest rate?
Certificate of Deposit
Checking
Money Market Account
Savings
8
Deposits have to be held for a certain length of time, between 7 days and 10 years ormore
Money Market Acct
Savings
Checking
Certificate of Deposit
9
When you "Pay Yourself First" at what point do you put your money in to savings?
After Savings
After Paying Bills
Before Paying Bills
10
Savings tools are______________and _____________.
Mean and nasty
Expensive and necessary
Secure and liquid
Dangerous and risky
11
Which of the following has the highest liquidity?
Certificate of Deposit
Savings
Checking
Money Market Acct
12
Cash set aside to cover the cost of unexpected
Principle
Consumption
Investments
Emergency Savings
13
According to the Time Value of Money, what should you look for to gain the highest return?
Highest Interest Rate
Longest Time
All of the Above
Largest Principal
14
____________ is how quickly and easily an asset can be converted into cash
Liquidity
Monopoly
sustainability
Rigidity
15
A feature of a Certificate of Deposit is:
Set Period of Time
Very Liquid
Set Interest Rate
B &C
16
Earning interest on interest
Earnings
Simple Interest
Compound Interest
Interest
17
The greater the risk the _________ you should expect when investing.
Greater Return
Less Return
Smaller Return
18
How quickly and easily an asset can be converted to cash
Access
Security
Liquidity
19
Cash set aside to cover the cost of unexpected events.
Emergency Savings
Investments
Principal
Consumption
20
According to the Time Value of Money,what should you look for to gain the highest return?
Simple Interest
Compound Interest
Interest
Earnings
21
Who provides insurance to banks and credit unions?
NCUA
AFLAC
NCAA
FDIC
22
Which of the following has a feature of tiered interest rates?
Savings
Money Market Account
Certificate of Deposit
Checking
23
An account that provides the easiest withdrawing and depositing of money
Certificate of Deposit
checking
Money Market Cert
Savings
24
When you "Pay Yourself First" at what point do you put your money in to savings?
After Paying Bills
As soon as you get your check
Before Paying Bills
A & B
25
Which of the following has the lowest interest rate?
Checking
Certificate of Deposit
Savings
Money Market Acct
26
Which of the following is an example of a variable expense?
Car Payment
Rent
Insurance
Utilities
27
Which account would you open to use bill pay and direct depositing?
Certificate of Deposit
Checking
Savings
Money Market Account
28
Which President is on the $50 bill?
Washington
Grant
Jefferson
Lincoln
29
Which of the following has the highest liquidity?
Savings
Certificate of Deposit
Checking
Money Market Account
30
The initial amount that you invest or deposit?
Check
Principle
Interest
Lump Sum
31
Has the lowest liquidity?
Money Market
Savings
Checking
Certificate of Deposit
32
Which of the following has the lowest liquidity?
Checking
Savings
Money Market Acct
Certificate of Deposit
33
Portion of money that is not spent on consumption (wants and needs):
Earnings
Gross Income
Deductions
Savings
34
You deposit $100 in an account with annual interest rate of 6% after 12 months you will have:
$106
$6
$166
$160