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Personal Finance Preassessment
Personal Finance Preassessment
16 terms
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StudBud Administration
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Personal Finance questions to assess student's knowledge coming into the semester.
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
Filled out when starting a new job, to let employer know how much to withhold on paycheck.
1099 Form
W-4 Form
1040EZ Form
W-2 Form
2
Which bank account is the most liquid (easy to get to your money).
Money Market Account
Certificate of Deposit (CD)
Checking
Simple Savings
3
The amount one receives after taxes and deductions have been withheld during a pay period.
Net Pay
Aggregate Pay
Gross Pay
Garnishment Pay
4
Type of interest that allows you to earn interest on both principle and interest earned.
Compound Interest
Simple Interest
Prime Interest Rate
Annual Percentage Rate (APR)
5
An investment program that trades in diversified holdings and is professionally managed.
Investment Plans
Shares of Stock
Bond Certificates
Mutual Funds
6
A financial institution that is member owned and is non-profit.
Commercial Bank
Credit Union
Savings and Loan Association
Investment Bank
7
Tool used by the Fed to slow inflation and to boost the economy in times of recession.
Legislative Policy
Economic Policy
Monetary Policy
Fiscal Policy
8
A bounced check means that a check cannot be processed because:
There is is non-sufficient funds (NFS)
The bank ran out of money
The check is made of rubber
The customer has overdraft protection
9
Insurance is a form of this type of management used to hedge against the possibility of loss.
Adjustment
Risk
Claim
Job
10
Which of the following interest rates will earn you the most money if compounded daily?
.05%
.5%
1%
.1 %
11
When this card is used to make a purchase, money is immediately taken out or your bank account.
Credit Card
Debit Card
Charge Card
Gift Card
12
Insures bank deposits for up to $250,000.
CFPB
SEC
Fed
FDIC
13
A 3 digit number based on an analysis of your credit files, to represent your creditworthiness.
Payment History
Credit Score
Credit Rating
Interest Rate
14
Which of the following is a variable expense?
Food
Rent
Health Insurance
Auto Loan
15
Which of the following is NOT used as a traditional retirement plan?
401K
Roth IRA
Simple Savings Account
Traditional IRA
16
A certificate that means you have a fraction of ownership of a business.
CD
Bond
Stock
Dividend
