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Personal Finance EOC Review Flashcards | StudBud
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Personal Finance EOC Review
Personal Finance EOC Review
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30 cards
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Questions
30
Answers
1
An investment like a municipal bond or a 529 college fund is considered to be:
tax exempt
taxed
2
If Sam was saving to purchase a car in the next 6 months, this is a ______ goal.
long term
unrealistic
impossible
short term
3
Which act allows someone to get a copy of their credit report annually?
Truth in Lending Act
Fair Credit Act
4
If I had an investment that returned 6% on the principal amount, this is called the _______.
rate
principal
yield
time
5
If I slept in and arrived to 1st hour late, my consequence was a tardy, I experienced:
rate of return
resources
opportunity cost
labor union
6
What type of deduction is withheld so that you have income in retirement years?
401K
medicare
social security
medicaid
7
A taxed employee would receive this from an employer by Jan 31st to use to file their taxes.
W-2
W-4
I-9
1099
8
If I wanted to purchase Apple Stock, meaning technological stock, what stock exchange should I shop?
NASDAQ
S & P 500
9
If you are investing, which is better?
compound interest
simple interest
10
Which one would be considered a good FICO score?
800
300
600
550
11
Which one would be an indicator of the economy's health?
GDP
All of the Above
Inflation
Unemployment
12
Once hired for a job, before the employer can issue a paycheck, they need to know how to hold out taxes, what form?
1040-EZ
1099
W-2
W-4
13
What % is withheld from your paycheck for Medicare?
1.45%
6.2%
1.50%
1.0%
14
Which type of stock allows the shareholder to have voting rights?
Annuity
Preferred Stock
Common Stock
Hedge Fund
15
What should the Federal Reserve do to increase the money supply?
buys back securities
lowers reserve requirements of banks
increases reserve requirements of banks
sells securities
16
What form allows an employer to check citizenship status?
1040
W-2
1099
I-9
17
Which type of stock would be sold by a well-known, established company?
Preferred Stock
Blue Chip Stock
Common Stock
Hedge Fund
18
Which act would require a bank to quote interest rates in the same manner as the their competitor?
Fair Credit Act
Truth in Lending Act
19
If I had $250 deducted from my paycheck each month to put into my 401K, this helps me reach my _________ goal.
long term
short term
intermediate
stock savings
20
What form is sent to sub-contractors at the end of the year for tax purposes?
1099
I-9
W-2
W-4
21
Which act would protect someone from not allowing a hospital to report an illness on their credit report?
Hospital Act of 1905
Fair Credit Act
Truth in Lending Act
None of the Above
22
What % is withheld for social security?
6.2%
1.45%
3.14%
8.5%
23
Which deduction is NOT considered to be money set aside for retirement?
401K
pension
social security
HSA
24
What type of retirement account would allow for your employer to match your contributions?
Roth IRA
401 K
Pension
Traditional IRA
25
Applying the rule of 72, if I wanted to double my money in 9 years, what interest rate do I need?
8
6
7
4
26
When filing your taxes, the form used to complete your tax information to send to the IRS is the ________.
W-4
W-2
1040-EZ
1040-A
27
If I purchase a $450 pair of Coach shoes because they are super cute, this is a:
Want
Need
28
What is the stock market index called that measures the stock performance of 500 large companies?
S & P 500
NASDAQ
NYSE
Blue Chip
29
Which type of retirement account would be best for someone who is in their 20's?
Roth IRA
Traditional IRA
30
Which type of deductions would be considered voluntary on your paycheck?
medicare
dental insurance
social security
health insurance