Money/Money Mgmt/Financial Planning W!SE

Question 1

The Federal Reserve directs:

Accepted Answer

monetary policy

Question 2

What is a way to legally earn income?

Accepted Answer

Renting, Dividends from stocks, Windfall income, Wages

Question 3

In a progressive tax structure, which group pays the higher percentages

Accepted Answer

The wealthy

Question 4

What are things the US Treasury does for us?

Accepted Answer

Buys and sells bonds, Prints money and coins, Collects taxes and issues refunds

Question 5

Which of the following is NOT as asset

Accepted Answer

Liabilities

Question 6

When overall prices are going up, it is called:

Accepted Answer

Inflation

Question 7

Why does US currency have value?

Accepted Answer

because we believe it does

Question 8

Optional items that come out of your paycheck may include:

Accepted Answer

insurance, retirement

Question 9

Which of these is NOT a type of retirement

Accepted Answer

Money Market Account

Question 10

Which of the following stores would sell Money Orders?

Accepted Answer

Walmart, Kroger, Post Office, Food Lion

Question 11

Your assets minus your liabilities (things of value minus debt) is your:

Accepted Answer

Net worth

Question 12

Income, savings, capital gains, gas, alcohol, and groceries all have this added to the price

Accepted Answer

taxes

Question 13

True or False Tax exemptions lower the amount you pay in taxes?

Accepted Answer

True

Question 14

Net pay is:

Accepted Answer

Take Home Pay, What is on your paycheck, Gross pay minus deductions

Question 15

There are 3 categories for Budgeting: Fixed, Variable and ?

Accepted Answer

Discretionary

Question 16

A low debt to income ratio means:

Accepted Answer

You are doing well

Question 17

US currency is which color?

Accepted Answer

Green

Question 18

Liquidity is:

Accepted Answer

how easy it is to turn an asset into cash

Question 19

Debit cards are almost always tied to which type of account?

Accepted Answer

Checking

Questions 19