Personal Finance Final

(Unit 5) Credit Counseling is a good way to solve debt; however, it is very expensive

(Unit 7) Disability Insurance typically pays 70 to 80 percent of your regular pay

(Unit 3) A written Spending plan is the best way to manage an allowance

(Unit 2) Which item is not likely to be taxed to modify behavior

(Unit 2) A tax charged on the purchase of specific goods and services

(Unit 8) A certificate of deposit is a low-risk, liquid investment

(Unit 2) An insurance plan that pays medical and disability benefits to workers injured

(Unit 8) A portion of a corporation's profits distributed to stockholders is called a

(Unit 5) Implementing buying plan involves all of the following except

(Unit 4) An ATM Card

(Unit 2) Sales tax paid to a business is an example of a

(Unit 8) The people who give the capital to a real estate syndicate are called silent partners

(Unit 5) A property manager lives on site and provides repair and supervises safety of the area

(Unit 3) Giving to a church or charity can be part of my spending plan

(Unit 6) This is when someone tries to steal your information over an email

(Unit 5) Which of the following is not a recommended method to prevent credit card fraud?

(Unit 6) This is when someone tries to steal your information over the phone

(Unit 5) A common reasons why people file for bankruptcy is excessive medical bills

(Unit 1) Values are a key factor in the creation of financial goals

(Unit 4) The Formula for simple interest is

(Unit 4) Overdraft Protection helps you avoid

(Unit 4) Which of the following banking activities cannot be done with internet banking?

(Unit 8) Investing in your own home has little risk, while other real estate can be very risky

(Unit 7) What type of risk is this... driving while under the influence

(Unit 2) Money and benefits received from local, state, or federal governments

(Unit 5) With a rewards program, you can get money back for using your credit card

(Unit 1) An unsubsidized loan is a loan that starts charging interest from the time it is made

(Unit 8) The legal process of proving a person's will and distributing that person's estate is

(Unit 6) Before Throwing away old documents, you should

(Unit 8) Municipal bonds are issued by state governments

(Unit 1) Besides Scholarships, which is not one of the three most common forms of financial aid

(Unit 4) If you set aside $1000 at 6 percent interest, how much would you earn after 1 year

(Unit 8) For long term investments, strategic choices are designed to stay ahead of inflation

(Unit 5) Which of the following is not a common reason for bankruptcy?

(Unit 3) Money coming in is an example of

(Unit 2) Payments made indirectly on a person's behalf or paid in a form other than money

(Unit 1) An associate degree will normally lead to less income than a bachelor's degree

(Unit 8) Which of the following retirement accounts provides tax-free earnings

(Unit 4) Checks that a bank has processed are called

(Unit 2) Withholding tax that pays for old-age, survivors, and disability insurance benefits

(Unit 6) Someone would steal your identity to

(Unit 8) Which of the following is NOT a systematic saving and investing strategy

(Unit 1) The S in the acronym SMART for financial goals stands for

(Unit 8) A savings account is considered to be a risk free investment

(Unit 1) Oral communication of new hires is a number one complaint amongst job employers today

(Unit 1) Someone's goal of investing $200 a month for 6 years is a ______ goal

(Unit 2) People who work and are paid by the hour earn

(Unit 2) A form used to report taxable income that a worker received during the calendar year

(Unit 6) If a company calls and asks for your PIN number, you should give it to them

(Unit 4) If a check is not properly endorsed, it may be returned by the bank to the customer

(Unit 7) Why do you need liability insurance

(Unit 6) Where is the most common place individuals get heir purses stolen in our community

(Unit 5) Which of the following is not a type of living habit?

(Unit 1) Which of the following degrees typically requires more education

(Unit 5) Which of the following is not a major credit bureau?

(Unit 4) The payee is the person who is writing the check

(Unit 4) Which of the following endorsements would include the instructions "For deposit only"

(Unit 2) Federal income tax is an example of a

(Unit 3) Changes can be made to my written spending plan

(Unit 5) Being financially responsible means you make payments and honor your commitments

(Unit 6) A thief could steal your tax refund, with your identity stolen

(Unit 4) when a check is cashed, the check is said to be truncated

(Unit 5) Those under 21 must have an income or have a cosigner before issued a credit card

(Unit 4) Online banks are not subject to the same laws and regulations as traditional banks

(Unit 7) Which type of permanent life insurance pays fixed premiums as long as it is in effect

(Unit 8) An example of market risk is a terrorist attack

(Unit 4) A pin number is a personal identification number

(Unit 5) All are required to be included in a credit card's disclosure terms except

(Unit 8) Investing in a franchise is more risky than starting your own business

(Unit 4) Which is not one of the key characteristics of money as a form of exchange

(Unit 5) Which law entitles you to a free copy of your credit report every 12 months

(Unit 4) When a check bounces, the person or business that deposited it is charge a fee

(Unit 6) This is a form of stealing one's identity in which someone pretends to be someone else

(Unit 1) Written communication is always preferable to face to face communication

(Unit 5) People who try to hide assets from bankruptcy court are committing bankruptcy fraud

(Unit 6) To get up-to-date information on the latest scams, you can visit

(Unit 5) When defining your spending goal, you should recognize your opportunity cost

(Unit 7) To be eligible for cancer insurance, you

(Unit 8) Earned income is your net income before subtracting business expenses

(Unit 7) You shouldn't assume the risk for large expenses and should for smaller costs

(Unit 6) The S in https:// stands for

(Unit 4) Using rule of 72, if you invest money at 10% interest, how long until it doubles?

(Unit 3) Savings provides money for

(Unit 4) Savings accounts at banks usually are insured by the FDIC up to a legal limit of $250k

(Unit 7) Risk Transfer is also called

(Unit 8)Defined-benefit plans are more common than defined-contribution plans in most companies

(Unit 5) Most Credit counselors recommend accepting more credit than you need

(Unit 5) The FBI oversees the US National Do Not Call Registry

(Unit 5) A rental agreement is also called a month to month agreement

(Unit 8) Which low-risk savings option is not insured by the FDIC

(Unit 5) The minimum payment due and due date must be told on the monthly credit card statement

(Unit 2) The amount of your paycheck after deductions

(Unit 4) The purpose of a signature card is for depositing money into your account

(Unit 2) Money in the form of check or debit given to those needing assistance

(Unit 1) The ability to prepare a spreadsheet is an example of a hard skill

(Unit 5) Which ADR processes is usually the first approach when resolving a dispute

(Unit 1) If Supply of a product exceeds demand, Sellers will charge higher prices for a product

(Unit 6) This is a detailed report of your credit history

(Unit 4) A third party check can easily be cashed or deposited into any account

(Unit 7) Homeowners insurance protects a homeowner from fire damage and liability coverage

(Unit 2) A benefit that allows employees to share a portion of the profits of the business

(Unit 5) A car loan typically does not require a down payment from the buyer

(Unit 2) A person you claim on your tax return as a dependent

(Unit 2) When a car salesman earns 5% of every sale he makes, that is known as a

(Unit 7) Driving without a spare tire will usually lead to financial risk

(Unit 4) Checks over one year old are not valid for cashing or depositing

(Unit 8) The amount that savings or an investment grows is called the principal

(Unit 5) Which of the following is an example of a charge card?

(Unit 2) A tax where a higher percentage of income is taken from lower income individuals

(Unit 3) Rent, car loan payments, insurance and cell phone payments are examples of what?

(Unit 7) Assigned risk pools offer minimum insurance coverage at high cost to poor drivers

(Unit 2) Total Salary or wages earned during a pay period

(Unit 4) Interest paid only on principal is called

(Unit 3) Which of the following is considered a fixed expense?

(Unit 2) The lowest pay rate allowed by law is

(Unit 8) When using dollar-cost averaging, investors do not have to study the stock market

(Unit 1) Lifelong learning will help you stay employed and able to earn higher pay or promotion

(Unit 8) An investment that will not be taxed until a later time is

(Unit 7) How do you shift your financial losses to the insurance company?

(Unit 4) The future value of money is how much you need to deposit today to get in the future

(Unit 1) Retraining is the process of learning new skills in order to prepare for a new field

(Unit 7) What covers you if you temporarily can't work due to a non working related injury

(Unit 5) Which of the following carries the most weight when calculating FICO score?

(Unit 1) Which of the following is not one of the 4 major parts to the business cycle

(Unit 4) Floating a check is writing a check and making deposit later to cover it

(Unit 8) When investors sell stock that have increased in value, this is an example of

(Unit 1) Which of the following is the best example of a well stated SMART Financial goal

(Unit 3) The portion of current income not spent on consumption

(Unit 7) Self-insuring is a form of

(Unit 5) Which of the following is a disadvantage of credit?

(Unit 8) Tax deferral allows your investment to grow for years without being taxed

(Unit 5) Liquidation Bankruptcy is also called

(Unit 4) FDIC stands for

(Unit 7) Buying insurance to cover financial losses from damaging events is an example of

(Unit 7) Which type of health care plans allow people to manage their own health care dollars?

(Unit 4) Which of the following is issued by a bank against its own funds?

(Unit 6) Identity theft occurs by

(Unit 6) You should keep a list of all account numbers and phone numbers in a secure location

(Unit 1) A long term goal is defined as any goal taking more than two years to complete

(Unit 7) Which of the following isn't a risk strategy?

(Unit 8) The emphasis of savings is on

(Unit 2) A tax that pays medical care for retired persons who receive social security benefits

(Unit 8) Which is an example of a low risk investment

(Unit 7) Disability insurance typically pays 50-60% of your regular pay

(Unit 7) Homeowners insurance does include liability insurance

(Unit 3) Money going out is an example of

(Unit 3) What is the first step in preparing a budget?

(Unit 1) Joel has a goal of saving $50 a month for an IPad. What does this goal lack

(Unit 4) You Should reconcile your bank statements at least once a year

(Unit 3) My Spending plan must remain the same for an entire year

(Unit 3) Which is an example of a flexible or variable expense?

(Unit 7) An HMO allows employees to set aside money to help pay for medical expenses

(Unit 3) Everyone has the same spending plan if they make the same amount of money

(Unit 2) A tax levied as a percentage of the purchase price of goods sold to consumers

(Unit 8) You should start planning for retirement when you begin your first career

(Unit 7) Personal risk is losing something of

(Unit 7) Which is not covered under a basic homeowners insurance policy

(Unit 2) In a Flat tax system, everyone would pay

(Unit 4) A canceled check serves as proof of payment for bills or purchases

(Unit 2) A tax charged on the use, storage, or consumption of a good purchased in another state

(Unit 2) People who are self-employed must pay how much of the 6.2% social security tax

(Unit 5) Which of the following is refundable to the tenant?

(Unit 2) Money available to spend or save after taxes have been paid

(Unit 3) Spending plans should be discussed with your parents

(Unit 3) What does it mean to "Pay yourself first"?

(Unit 2) Government-provided goods and services paid for by taxes

(Unit 3) Which of the following items are NOT a benefit of using a spending plan?

(Unit 8) A savings account typically pays a low interest rate

(Unit 3) Changes to a spending plan is a continual process because finances are always changing

(Unit 6) It's not easy to prove that you did not do something

(Unit 7) Term insurance is an important part of your temporary life insurance plan

(Unit 3) If your expenses were greater than your income, which would be a smart solution?

(Unit 1) Short term goals for teens are usually achieved within then next 3 years

(Unit 3) An internet bill would be an example of what?

(Unit 6) My identity could be stolen by

(Unit 2) A portion of a corporation's profits distributed to stockholders

(Unit 4) paper money is also known as banknotes

(Unit 8) Which is an example of indirect investing using a third party trustee*****

(Unit 8) Short term goals are those you want to accomplish in the next two to five years

(Unit 4) Which of the following is not required for a safe deposit box?

(Unit 5) The balloon payment is often the last loan payment

(Unit 8) The income you receive from selling stock at a higher price is called a dividend

(Unit 3) Which of the following is not a spending plan category?

(Unit 2) A tax where a higher percentage of income is taken from higher income individuals

(Unit 2) Money Received from sources other than working

(Unit 7) Basic health care coverage includes medical, hospital, and surgical costs

(Unit 6) Identity theft can happen to anyone regardless of your financial habits

(Unit 6) Once your identity is stolen, thieves can use it to

(Unit 7) Which type of term life insurance has a death benefit that remains the same throughout

(Unit 2) A form that all regular employees will receive from their employer, with income info

(Unit 5) The person who borrows money is called the debtor

(Unit 5) The process of dividing up your debt into equal payments over a set period of time is

(Unit 1) The M in the acronym SMART for financial goals stands for

(Unit 7) A disadvantage of belonging to a HMO is their emphasis on preventive care

(Unit 8) Bear markets typically last longer than bull markets

(Unit 6) People who don't have a credit card or borrow money are not at risk for identity theft

(Unit 2) The simple tax return form for people who don't itemize deductions

(Unit 6) Identity theft occurs when someone gains unauthorized access to

(Unit 6) The FTC recommends getting your free credit score by visiting

(Unit 7) Money in a permanent life insurance policy that you will get if you cancel your policy

(Unit 4) Liquidity measures how easily money can be withdrawn

(Unit 7) What's the first step in risk assessment

(Unit 1) Which of the following is not reliable source for financial assistance

(Unit 7) For Insurance Purposes, what you would pay today to replace an item is

(Unit 8) The purchase of vacant land is often classified as speculative investing

(Unit 8) which type of mutual fund aims to produce steady and reliable dividend and interest

(Unit 4) All of the following may be required to open a checking account except a

(Unit 7) If you rent your residence instead of owning it you don't have to insure it

(Unit 7) Which is not a type of basic auto insurance

(Unit 5) Landlords are responsible for all of the following except