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5.02 Savings Tools Personal Finance Flashcards | StudBud
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5.02 Savings Tools Personal Finance
5.02 Savings Tools Personal Finance
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Savings, Personal Finance
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
When you "Pay Yourself First" at what point do you put your money in to savings?
After Paying Bills
End of the Month
Before Paying Bills
As soon as you get your check
2
Savings tools are a beneficial money management tool because they are
Cheap
Secure
Liquid
Variable
3
A feature of a Certificate of Deposit is:
Set Interest Rate
Tiered Interest Rates
Set Period of Time
Very Liquid
4
Which account would you open to use bill pay and direct depositing?
Savings
Certificate of Deposit
Checking
Money Market Account
5
You deposit $100 in an account with annual interest rate of 6% after 12 months you will have:
$166
$6
$106
$160
6
Earning interest on interest
Earnings
Compound Interest
Simple Interest
Interest
7
How quickly and easily an asset can be converted to cash
Security
Liquidity
Access
8
The initial amount that you invest or deposit?
Check
Lump Sum
Principal
Interest
9
This savings tool must be held for a certain length of time
Checking
Certificate of Deposit
Money Market Account
Savings
10
Cash set aside to cover the cost of unexpected events.
Principal
Consumption
Investments
Emergency Savings
11
Who provides insurance to banks and credit unions?
NCAA
FDIC
NCUA
AFLAC
12
Which of the following is a stock exchange?
NYSE
Depository Institiution
Commercial Bank
Nasdaq
13
Which of the following is a feature Money Market Accounts?
Tiered Interest Rates
Minimum Balance
Set Period of Time
Set Period of Time
14
According to the Time Value of Money, what should you look for to gain the highest return?
Largest Principal
Longest Time
Lowest Interest Rate
Highest Interest Rate
15
Which of the following has a feature of tiered interest rates?
Certificate of Deposit
Checking
Savings
Money Market Account
16
Which of the following is an example of a variable expense?
Entertainment
Insurance
Rent
Utilities
17
Which President is on the $50 bill?
Lincoln
Jefferson
Washington
Grant
18
Which of the following has the lowest interest rate?
Savings
Certificate of Deposit
Money Market Account
Checking
19
Portion of money that is not spent on consumption:
Deductions
Gross Income
Earnings
Savings
20
Which of the following has the highest liquidity?
Money Market Account
Checking
Savings
Certificate of Deposit
21
Which of the following has the lowest liquidity?
Money Market
Savings
Certificate of Deposit
Checking
22
Name this movie?
The Shining
Forrest Gump
Saving Private Ryan
Patch Adams
