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Personal Finance
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This is for a unit on personal finance in an economics class.
Flashcards
31 cards
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Practice quiz
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Questions
31
Answers
1
What does not count in credit scores?
jobless or job (full)
All of the above
rent or own a shelter
Age, gender, income
2
What is a dividend?
Profit from a special interest group
Interest on a loan
Money that is accrued from a stock doing well.
An incentive
3
You are not taxed on qualified on withdrawals in a Roth IRA
True
False
4
How do businesses reduce credit card fees?
All of the above.
Raise Prices
Seek Alternatives
Negotiate Fees
5
This is where there is one business owner and refuses to sell the company.
Corporations
Mutual Funds
Sole Proprietorship
Single Owner
6
This is the guy who rents you an apartment.
Landlord
renter
Mortgage broker
Home repo man
7
What is the main difference between sole proprietorship and a corporations?
One is a more successful business plan.
They are both soul sucking and looking for profits at all times.
A corporation has a board of investors.
Sole Proprietorship has one owner.
8
All of the following are counted in a credit score EXCEPT...
Length of credit history
Age
New Credit applications
On time payments
9
This is a market where you can buy and share parts of a company among many investors.
Shareable funds
Stock Market
Stackable funds
Public Ownership
10
All of the following are incentives except for...
Jail Time
Feeling happy
feeling generous
Peer Pressure
11
Complete the following sentence "Someone else's spending is someone else's ________"
bills
loan
income
dividends
12
This account will allow you take out your money 4 times a year, but you will make more money.
Certificate of Deposit
Money Market
Savings account
Stock Market
13
An interest rate is applied to all of the following accounts except...
Car loans
bank loans
0% APR loans
Mortgage Loans
14
All of the following are advantages of forming a corporation except...
Expanding the business
board of directors
Liability
Group think
15
All of the following were tricks the credit card companies use to get you to pay more EXCEPT...
Low introductory APR
Universal Default
Late Fees
Over the limit fee
16
Most Americans fit into which credit score?
800-850
750-799
650-699
700-749
17
This is a positive feeling you get for doing an action or purchase.
emotional response
Incentive
Opportunity Cost
Group share
18
What is growth stock?
Long term pay out designed to pay off as business grows
Short term investment designed to pay off as business grows
Long term investment
Long term investment designed to pay off as business grows
19
By paying the minimum amount on a credit card balance, what are you ensuring?
The loan to be paid off in a long time
building up your credit score
all of following
You will pay a lot of money in the long run
20
What is part of the hidden costs to buying a car?
gas
all of the following
service fees
insurance
21
What account can be used to save money tax free for college?
Roth IRA
529 plan
Certificate of Deposit
Money Market
22
What term is used to explain the concept, "that nothing in life is free?"
There is no such thing as a free diner
There is no such thing as a free dinner
There is no such thing as a free lunch
Bills suck
23
Businesses have to pay the credit card company for you to use the point of sale system.
False
True
24
How is your credit score calculated?
Paying on time
Amount of money you owe
All of the following
New credit applications
25
What was APR stand for?
Annual Percentage refund
Attire Products refund
Annual Percentage rate
Annual Percentage of your retirement
26
Which stock is a safer bet to invest in?
Mutual funds
Growth stock
Income stock
dividends
27
You have to pay taxes on withdrawals in a Traditional IRA
True
False
28
What does an IRA stand for?
Individual running the show Account
Individual Retread Account
Individual reread Account
Individual Reitrement Account
29
Where is most of America on the Credit Score scale?
700-749
650-699
500-549
750-799
30
What type of account can you take out to save for retirement?
A Roth IRA
Individual refund account
Individual retirement home account
Individual dividend returns
31
This is the document that protects you as the renter.
Rental agreement
My trust fund
Lease
Car lease
