Personal Finance

Question 1

Inflation type when wages go up and businesses raise prices to cover that cost is:

Accepted Answer

Cost push

Question 2

The act of planning where to send/save/invest your money is called:

Accepted Answer

Budgeting

Question 3

Financial institution responsible for the oversight and management of all other banks is

Accepted Answer

Central Bank

Question 4

Income received BEFORE a good is sold or service is provided is called

Accepted Answer

Unearned income

Question 5

Income BEFORE all taxes and deduction are taken is called

Accepted Answer

Gross Income

Question 6

Estimated current value of a future amount to be received or paid out, discounting any fees is:

Accepted Answer

Present value

Question 7

All are examples of COMMODITY MONEY except:

Accepted Answer

Home Deed

Question 8

The percentage of deposits required by law that banks must keep on hand at all times is

Accepted Answer

10%

Question 9

A sustained, rapid increase in prices, followed by decreased buying power is:

Accepted Answer

Inflation

Question 10

Effort made, information given honestly and without deliberate intention to defraud is

Accepted Answer

Good Faith

Question 11

Financial institutions owned by their members and operate for their benefit are called

Accepted Answer

Credit Unions

Question 12

Income derived from goods sold, services rendered, and work performed.

Accepted Answer

Earned Income

Question 13

Subtracting your liabilities from your assets is the way to determine your

Accepted Answer

Net Worth

Question 14

Money as a "store of value" means:

Accepted Answer

Money doesn't "go bad"

Question 15

Something valuable that an entity owns, benefits from, or has use of, in generating income

Accepted Answer

Asset

Question 16

Money that is worth that the government and the free market determine it is worth

Accepted Answer

Fiat Currency

Question 17

Income AFTER all taxes and deductions are taken is called:

Accepted Answer

Net Income

Question 18

Document of EVIDENCE of indebtedness -- freely transferable in trading in place of money.

Accepted Answer

Negotiable Instruments

Question 19

Legal term for an original or any subsequent holder of a negotiable instrument

Accepted Answer

Holder in due course

Question 20

Money computed on the principal amount to which money earned to date has been added is called:

Accepted Answer

Compound Interest

Question 21

A claim against the assets, or legal obligations of a person or organization is

Accepted Answer

Liability

Question 22

Moving funds between accounts in the same bank or different banks without using paper documents

Accepted Answer

Electronic Funds Transfer

Question 23

Inflation that results from increasing demand through the easy availability of credit is called

Accepted Answer

Demand pull

Question 24

Money that is required NOW to meet a person’s obligations.

Accepted Answer

Financial Needs

Question 25

Financial institutions that help in raising capital through the issuance of SECURITIES

Accepted Answer

Investment Banks

Personal Finance

Questions 25

Personal Finance

Questions 25