BD - Midterm Review 25

Question 1

Items of value you own

Accepted Answer

Assets

Question 2

During an interview, what is something you should NOT do?

Accepted Answer

Chew gum and eat something

Question 3

A budget is a planning tool

Accepted Answer

To look at the future

Question 4

What you actually take home after deductions from your paycheck

Accepted Answer

Net Pay

Question 5

On the day of your interview make sure you:

Accepted Answer

All of the above

Question 6

Financial record of an employee’s compensation, deductions and net pay

Accepted Answer

Payroll

Question 7

Your disposable income is money left over from income:

Accepted Answer

After fixed and variable expenses

Question 8

Money or debts you owe to others

Accepted Answer

Liabilities

Question 9

A form you receive that helps you calculate your taxes for that year

Accepted Answer

W-2, 1099

Question 10

Documentation used to process earnings and record pay history

Accepted Answer

Payroll Records

Question 11

These companies buy and sell different types of securities like stocks

Accepted Answer

Brokerage Firms

Question 12

You fill this out on your first day of work to provide information to the IRS

Accepted Answer

W-4

Question 13

Items such as income taxes and unemployment taken out of your paycheck

Accepted Answer

Payroll Taxes

Question 14

If you get paid weekly, how many times do you get paid in a year?

Accepted Answer

52

Question 15

An expense that stays the same every month is called a(n) ___________ expense

Accepted Answer

Fixed

Question 16

The total compensation you receive from a job

Accepted Answer

Gross Pay

Question 17

A form you fill out that helps your employer calculate taxes to the IRS

Accepted Answer

W-4

Question 18

A form you fill out that confirms citizenship

Accepted Answer

I-9

Question 19

Overtime is the rate you make by law for hours worked for hourly wage earners over how many?

Accepted Answer

Over 40 hours

Question 20

An example of a fixed expense that stays the same every month:

Accepted Answer

Rent

Question 21

What is a tool that helps you with planning your finances?

Accepted Answer

Budget

Question 22

Banks that are primarily an online place with some advantages such as higher interest rates

Accepted Answer

Online Accounts

Question 23

The employer directs net pay directly into the employee’s bank account

Accepted Answer

Direct Deposit

Question 24

An expense that changes every month is called a(n) ___________ expense

Accepted Answer

Variable

Question 25

Provide the widest variety of financial institutions

Accepted Answer

Commercial Banks

Question 26

NON For profit banks formed by people in similar occupations to pool their money

Accepted Answer

Credit Unions

Question 27

AFTER an interview, what should you NOT do?

Accepted Answer

Call several times to ask what is going on

Question 28

Amount you borrow is $100 - you pay 5% interest. How much in total do you owe to the bank?

Accepted Answer

$105

Question 29

If you get paid semi-monthly and you make $1,000 per paycheck, how much do you get paid the whole year?

Accepted Answer

$24,000

Question 30

Another word for budget is:

Accepted Answer

Plan

Question 31

You work 10 hours and make $15 per hour - how much did you make that week?

Accepted Answer

$150

Question 32

If you get paid every other week, that is called

Accepted Answer

Biweekly

Question 33

Bank accounts are insured by the FDIC/NCUA for:

Accepted Answer

$250,000

Question 34

Someone who signs a contract in addition to the main party

Accepted Answer

Co-signer

Question 35

Amount you borrow is $100 - you pay 5% interest. How much interest do you owe to the bank?

Accepted Answer

$5

BD - Midterm Review 25

Questions 35

BD - Midterm Review 25

Questions 35