Money Management

Question 1

These financial institutions are highly regulated & deal with estates, trusts, & agency service

Accepted Answer

Financial Services Companies

Question 2

What is a fixed expense in a budget?

Accepted Answer

Mortgage

Question 3

As a general rule, how much should you set aside each month is savings for a budget?

Accepted Answer

at least 10%

Question 4

Periodic expense examples in a budget would be:

Accepted Answer

vacation

Question 5

You can get one of these every 12 months for free to check activity and identity theft.

Accepted Answer

credit report

Question 6

These financial institutions pool risk by collecting premiums from a large group of people?

Accepted Answer

Insurance Company

Question 7

The purpose of a bank reconciliation report is to:

Accepted Answer

compare bank and company accounts records

Question 8

Which credit score reflects a history of poor money/budget management?

Accepted Answer

400

Question 9

Short term debts your company owes are:

Accepted Answer

Accounts Payable

Question 10

Which is NOT an advantage of online banking?

Accepted Answer

Security/hacker exposure

Question 11

In large companies, employees in this dept process payments due to the company

Accepted Answer

Accounts Receivable

Question 12

To buy a new pair of $150 shoes & $30 to save/month, how long will it take to buy them?

Accepted Answer

5 months

Question 13

Which is not a credit reporting agency?

Accepted Answer

Securities and Exchange Commission

Question 14

If you cannot afford your credit card bill for the month, you should:

Accepted Answer

combination of all answers

Question 15

Congress created ______ to provide the US with a safer&more stable monetary/financial system?

Accepted Answer

The Fed

Question 16

Which financial institutions is almost always organized as a NFP cooperative?

Accepted Answer

Credit Union

Question 17

Financial institutions generally don't deal with the gen public & under supervision of SEC are:

Accepted Answer

Investment Banks

Questions 17