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PF End of Course Review Flashcards | StudBud
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PF End of Course Review
Higher interest rates are a trade-off for...
Income for disabled children and adults
PF End of Course Review
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Units 1-7
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71 cards
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Answers
1
Income for disabled children and adults
disability
unemployment
TANF
SNAP
2
Higher interest rates are a trade-off for...
the same liquidity
higher liquidity
none of the above
lower liquidity
3
Generally quick and easy to withdraw money
investment
liquid
secure
interest
4
Which is the least liquid?
Money Market
CD
Savings Account
Checking Account
5
Means savings must stay within coverage limits
liquid
secure
investment
interest
6
A (legal and moral) activity through which an individual can earn money
volunteering
exercising
internship
job
7
The total return on investment expressed as a
percentage
of the amount of money saved
Rate of Savings
Rate of interest
Rate of return
none of the above
8
A fundamental belief or practice about what is worthwhile and important to someone
want
valuable
need
value
9
Types of Investment tools
both 1 and 2
Real Estate and Mutual Funds
Stocks and Bonds
neither 1 nor 2
10
Financial Planning is...
Ongoing, constant, continuous, forever, infinite
Needs to be written down as a goal
A major decision
None of the above
11
To calculate _____, divide monthly college loan payment by monthly starting wages (> 10-15%)
unearned income
opportunity cost
debt-to-income ratio
earned income tax credit
12
The best way to take charge of your future
fly by the seat of your pants
wing it
roll the dice
plan
13
Government assistance is intended to be
full-time
forever
ongoing
temporary
14
The 3 components of an Income and Expense Statement
Income, Expenses, Net Gain/loss
Assets, liabilities, net worth
net worth, net loss, net gain
Income, Expenses, net worth
15
A group of establishments that produce similar products or provide similar services
industry
team
cluster
occupations
16
Associate's and Bachelor's degrees are examples of...
secondary education
primary education
kindergarten
post-secondary education
17
A share of ownership in a company
Bond
Money Market account
CD
Stock
18
Medicare is _______ for adults over age 65 to use as needed
social security
prescription assistance
hospital income
medical care insurance
19
It is recommended to save or invest at least _____ of each paycheck
20%
10%
5%
50%
20
The consequences of defaulting a loan can result in:
denial of a car loan
refusal to rent you an apartment
garnished wages
denial of credit card
21
Which is the most liquid?
Savings Account
Money Market Account
Checking Account
CD
22
Liability
debt
assets
earnings
none of the above
23
Your income and expense statement tells you...
Your past spending habits
None of the above
Your current money situation
Your future plan for income and expenses
24
Lists and summarizes
past
income and expense transactions
Statement of financial Position
Income and Expense Statement
all the above
Spending Plan
25
Monetary Assets
checking account balance
all the above
cash on hand
savings account balance
26
If you are a successful financial planner you are...
happy
confident
contributing to a high well-being
living the good life
27
When stock sells for a higher price than it was paid for
capital gain
capital loss
capital
none of the above
28
A form of lending to a company or the government typically with a low amount of investment risk
stock
money market account
CD
bond
29
Formula for Net Worth
Assets + liabilities = Net worth
none of the above
Assets/Liabilities = Net worth
Assets - Liabilities = Net worth
30
The average cost of basic necessities (housing, food, gas)
debt-to-income
cost of living
cost effectiveness
excise tax
31
Money Management Tools
Income and Expense Statement
Statement of Financial Position
Spending Plan
All of the above
32
An
ongoing
money management process. Control, evaluate, adjust.
Income and expense Statement
Spending Plan
none of the above
Statement of Financial Position
33
Financial well-being directly affects...
social well-being
intellectual well-being
overall well-being
physical well-being
34
A savings tool with tiered interest rates
Savings account
Checking Account
CD
Money Market Account
35
If you have lost your job through no fault of your own, you may qualify for _____
unemployment
social security
medicare
hospitalization
36
Where would you go to ask for a loan on a car?
Bank
neither
credit union
either
37
Examples of needs
clothing, food, water, love/acceptance
A two million $ home and a 5karat diamond
cell phones, lamborghinis, expensive clothing
15 cats
38
Social, intellectual, emotional, financial, physical are
the 5 rules of thumb
the 5 domains of well-being
5 of the 101 dalmations
the 5 SMART goals
39
Chance of loss
reuse
recycle
return
risk
40
Your Spending Plan tells you...
Your future money management plan
Your past spending habits
all of the above
Your current money situation
41
The value of the next best alternative that is in the past as a result of a decision
opportunity cost
trade off
market cost
none of the above
42
Examples of Real estate:
land
all of the above
home
commercial building
43
Temporary assistance for needy families; and helps train them for jobs
Social Security
TANF
SNAP
AFDC
44
All investments have some risk.
never
True
Not sure
False
45
Long-term goals you would save or invest money for.
Education, new clothes, ipad
home, education, candy
Education, home, retirement
retirement, education, Six Flags
46
Share of profits distributed in cash to stockholders
benefits
dividends
stock
receipts
47
A budget.
Records and tracks
both planned and actual income and expenses regularly
Spending plan
income and expense statement
Statement of Financial Position
none of the above
48
Tangible Assets
value of house, savings, investments
value of car, savings, investments
Value of house, car, and electronics
value of all investments
49
You are responsible for
Your future
Your money
All the above
Yourself
50
Account designed to hold money not spent on current consumption; pays low interest
Savings account
Money market account
checking account
CD
51
How can you create a positive financial well-being?
pay your bills first and hoard what is left
Don't worry about paying your bills. It'll work itself out.
pay your bills first and blow what is left
pay your bills first and manage wisely what is left
52
These will need to be paid back
Grants
Loans
scholarships
work study
53
Investment Assets
Value of all investments
Value of your savings account
value of your house only
Value of all property
54
Statement of Financial Position tells you...
none of the above
future money management plan
current money situation
past spending habits
55
Savings Tools:
Savings Accounts
Certificate of Deposit
Checking Accounts
Money Market Accounts
56
Wants
are silly
can be detrimental if not managed
make our lives more enjoyable
help us to manage money
57
Assets
What you owe
What you own
All of the above
Your total wealth
58
Owner of a stock
stock holder or share holder
executor
beneficiary
decedent
59
Account that provides an easy method for withdrawing and depositing money; pays low interest
CD
money market account
checking account
savings account
60
Net Worth =
Financial Position
Total Wealth
Both 1 and 2
neither 1 nor 2
61
high risk investment
bonds
stocks
speculative
real estate
62
A savings tool account that is used for a fixed period of time with restricted access
Money Market Account
CD
Checking account
Savings Account
63
The tradeoff for higher returns =
lower interest
lower risk
higher risk
no risk
64
Assets purchased with the goal of a higher return from the asset itself, with risk
Financial Plan
Spending Plan
Investment
Savings
65
Supplemental Nutrition Assistance Program; helps families to purchase nutritious foods
SNAP
Earned Income Tax Credit
unemployment
TANF
66
Goods or services that are required for survival
needs
valuables
values
wants
67
Social Security from taxes pays benefits to...
Survivors of someone deceases (who worked)
People who are disabled
People who are retired
Dependents of beneficiaries
68
A grouping of similar occupations and industries based on the knowledge and skills required
portfolio
cluster
profile
goal
69
What each of us has the same amount of...
freckles
money
hair
time
70
Investments are important to building net worth and are ideal for the long term
False
not sure
True
never
71
Secure, liquid accounts from depository institutions assisting in management of a savings fund
Investment Tools
Liquid Tools
Saving Tools
Investment Accounts
