Personal Finance Benchmark Review Part Two

Question 1

This form helps determine the amount of money that will be withheld fromyour income for taxes.

Accepted Answer

W-4

Question 2

An employee sponsoredretirement program offered by many employers in the United States.

Accepted Answer

401K

Question 3

The more ________that you earn, themore you will pay in federal incometaxes.

Accepted Answer

Income

Question 4

A measure of financial wealth.

Accepted Answer

Net Worth

Question 5

A tax on both earned (work, tips, tax refunds) and unearned (gifts) income.

Accepted Answer

Income Tax

Question 6

An account used for a fixed amount of time and allows restricted access to the fundsdeposited.

Accepted Answer

CD

Question 7

A federal government program that helps citizens of the United States fund their retirement.

Accepted Answer

Social Security

Question 8

Making a SMART goal that you know is possible to achieve.

Accepted Answer

Attainable

Question 9

A business that provides financial services.

Accepted Answer

Depository Institution

Question 10

The amount of money expertssuggest you should hold in a savings account for emergencies.

Accepted Answer

Three to Six Months

Question 11

The oldest and most widely usedindicator of how the stock market is doing overall.

Accepted Answer

Dow Jones IndustrialAverage Index

Question 12

A business that iscustomer-owned, non-profit organization, its members sharea common bond.

Accepted Answer

Credit Union

Question 13

A tax on earned income. This taxhelps fund Social Security.

Accepted Answer

Payroll Tax

Question 14

A list of people, no familymembers, who can help one get a job.

Accepted Answer

Reference List

Question 15

A federal government tax on your earned and unearnedincome.

Accepted Answer

Federal Income Tax

Question 16

An investment strategy spreads money into a wide array of investments.

Accepted Answer

Portfoliodiversification

Question 17

The form that you receive fromyour employer at the beginning of the year for tax purposes.

Accepted Answer

W-2

Question 18

Your income after deductions have been subtracted from your gross income.

Accepted Answer

Net Income

Question 19

How quickly and easily an asset can be converted into cash.

Accepted Answer

Liquidity

Question 20

The original amount of moneyinvested.

Accepted Answer

Principal

Question 21

A form that determines youreligibility of employment in the United States.

Accepted Answer

I-9

Question 22

A form of lending to acompany of government (state, federal, local).

Accepted Answer

Bonds

Question 23

An account hasminimum balance requirements and tiered interest rates.

Accepted Answer

Money Market Deposit Account

Question 24

What exactly do you want to accomplish in a SMART goal element?

Accepted Answer

Measurable

Question 25

Which of the following is NOT an expense associated with an automobile?

Accepted Answer

Mortgage Payment

Question 26

An account that allows quick access to funds fortransactions. Reduces the need for cash.

Accepted Answer

Checking Account

Question 27

An account at a depository institution that is designedto hold money not spent on consumption.

Accepted Answer

Savings Account

Question 28

This payment method is a reloadable card onto which a worker’s payis loaded.

Accepted Answer

Payroll Card

Question 29

The realistic amount that youcould sell an asset for today.

Accepted Answer

Market Value

Question 30

Being aware of your resources andwhat you will give up to accomplish your goals.

Accepted Answer

Realistic

Question 31

_______arecreated when a company combines the funds of many different investors.

Accepted Answer

Mutual Funds

Question 32

Is the amount of time that yougive yourself to reach your goal.

Accepted Answer

Time-Bound

Question 33

The skills, knowledge, andexperiences possessed by an individual.

Accepted Answer

Human Capital

Question 34

The end result of a SMART goal.

Accepted Answer

Specific

Question 35

The lowering of the value ofsomething.

Accepted Answer

Depreciation

Personal Finance Benchmark Review Part Two

Questions 35

Personal Finance Benchmark Review Part Two

Questions 35