When should you use a payday loan?

never because of the high fees & interest

Online software or app, pencil, and paper, & envelope method are all

effective money tracking methods

How often does a student apply for the FAFSA?

once a year while the student is in college

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Dewell Economics final review

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Questions 83

Answers

1
What form tells how much you have earned & how much taxes you've paid at the end of the year?
W3
W2
W4
W1
2
The money you earn from working =
negative correlation
income/salary
insurance
529 plan
3
A person who buys and sells securities on a stock exchange.
stock broker
banker
marketer
hedge fund manager
4
When regularly paid off on time, credit cards can help to...
build a positive credit score
increase interest payments
win prizes
invest in the stock market
5
A market in which stock prices are falling.
Bear market
Bull Market
strong market
NASDAQ
6
Schooling after high school =
secondary education
primary education
Post secondary education
grammar school
7
Techniques that enable you to make wise, informed purchases
Gordon growth model
demonitization
consumer skills
fiduciary skills
8
These are used to pay people & bills for goods & services through a checking account
paper checks
Roth IRAs
credit cards
ATMs
9
A # between 300–850 that depicts a consumer's creditworthiness based on credit history
dividend score
aquisition score
credit score
asset score
10
Something pledged as security for repayment of a loan =
transaction
principal
collateral
value chain
11
A financial institution, similar to a bank, but the members own it.
brokerage firms
online bank
credit union
insurance companies
12
Borrowing money to pay for college to be paid back with interest =
scholarship
student loan
grant
529 plan
13
When does the FAFSA open every year?
October 1
August 1
December 1
September 1
14
The amount of money you're paid after all taxes & deductions are taken out of your paycheck =
gross pay
final pay
end pay
net pay
15
Money given to pay for college, based on qualifying criteria
loan
scholarship
FAFSA
grant
16
An advertisement could be made by a paid influencer so it is not trustworthy.
True
False
17
These people estimate the value of insured items & evaluate insurance claims.
stock brokers
investors
hedge fund managers
appraiser
18
Money that is borrowed & expected to be paid back with interest =
interest
monetary policy
tariff
loan
19
The strategies taken to detect & prevent attempts to obtain $ through deception, primarily online =
gross pay protection
W-4 protection
fraud
fraud protection
20
This financial institution accepts deposits of money & lends money
company
stock market
bank
brokerage house
21
Synonyms for borrowing money =
savings account
checking account
debit card
credit/debt
22
Tax-free investment account when used to pay for qualified education =
529 plan
grant
hedgefund
scholarship
23
The income you earn after taxes & deductions =
gross income
benefits
net income
insurance
24
Expenses associated with attending post-secondary education =
grant
loan
scholarship
cost of attendance
25
Total income you earn, before taxes & deductions =
gross income
net income
macro income
benefits
26
Paying the minimum balance on your credit card can lead to...
junk bonds
Ponzi schemes
paying more interest
margin calls
27
A secured loan for a house or piece of land =
marine loan
principal
mortgage
commericial loan
28
A portion of your income the government takes to pay for services =
property taxes
sales taxes
gross income
income taxes
29
Services employers offer as compensation to employees in addition to income.
benefits
joint venture
macroeconomics
asset allocation
30
Comparing prices, reading product reviews, & waiting until the product is on sale are examples of
not for me
for old people
smart investment strategies
good purchasing decisions
31
What should be planned for & may cause you to be unable to pay bills?
unexpected expenses
vacation
entertainment expenses
phone bill
32
A share of ownership in a company is a(n)
corporation
stock
economy
financial piece.
33
Paid promotion of a product or service =
underlying asset
partnership
Gini index
advertisement
34
Money to pay for school based on a family's financial need.
grant
scholarship
community service scholarship
merit-based scholarship
35
Is a customer review ALWAYS trustworthy?
yes
yes
yes
no, anyone can write one
36
What type of insurance covers most medical expenses?
life
vision
dental
medical
37
Money paid, on top of the loan principal, for use of the money
offset
interest
collateral
loan
38
The application students must fill out to receive financial aid (scholarships, grants, etc.)
FAFSA
FSA
Scholarship
Financial aid
39
Insurance that covers annual eye exams plus glasses or contact lenses.
dental insurance
vision insurance
medical insurance
life insurance
40
Free application for federal student aid
grant
FAFSA
FSA
Student loan
41
What type of scholarship is based on grades &/or SAT scores?
community service
FAFSA
merit-based
athletic
42
When should you use a payday loan?
if your friend needs to borrow money
if you need to buy new clothes
never because of the high fees & interest
if you need to pay for a gift
43
Your job(s) can also be called your
investments
insurance
529 plan
employment
44
Online software or app, pencil, and paper, & envelope method are all
a waste of time
old school things that aren't helpful
effective money tracking methods
ways to research financial plans
45
Insurance that covers dental care, including tooth cleanings, exams, fillings & braces.
dental insurance
medical insurance
life insurance
vision insurance
46
Created by the Colorado Legislature, provides a stipend to eligible undergraduate students.
FAFSA
529 plan
FSA
COF
47
What helps prioritize spending & reach short & long-term goals?
budgeting
investing
spending
working
48
Fees paid to a person selling a product or service =
seller fees
taxes
bonds
dividends
49
How often does a student apply for the FAFSA?
once in your life
once while in college
once per semester while in college
once a year while the student is in college
50
A fixed fee that an individual pays for specific medical services, like a visit to the doctor’s office.
deductible
reinsurance
copay
out-of-pocket
51
A market in which stock prices are rising =
Depression
Bear Market
Recession
Bull Market
52
The form you complete when you start a new job that determines how much you will pay in taxes =
w2
w1
w3
w4
53
In addition to the student, who also has to apply for the FAFSA?
the students' doctors
the students' teachers
the students' parents
the students' guidance counselors
54
A collection of financial investments, like stocks, bonds, real estate
dividends
stock
portfolio
hedge fund
55
For most careers, earning this will most likely result in the highest lifetime earnings.
high school diploma
bachelor's/college degree
no degree
associate's degree/community college
56
What should you NEVER use a loan to pay for?
college
car
vacation
house
57
What is the best financial tool for long-term financial goals, like paying for retirement?
loan-to-value ratio
short-selling stocks
promissory note
investing
58
A market where shares in corporations are bought & sold.
jurisdiction market
bond market
stock market
mortgage market
59
A significant, widespread & prolonged economic downturn
inflation
Bear Market
depression
recession
60
A flexible market that allows people to work short-term independent jobs =
flea markets
gig economy
traditional jobs
corporate America
61
An owner of shares in a company
CEO
shareholder
CFO
bear market
62
Who should have medical insurance?
everyone, at ALL TIMES
only people with pre-existing conditions
only adults
only people who are high-risk
63
A form of borrowing money that needs to be paid back later is
savings account
check book
credit card
investing
64
Grants, scholarships, & loans, your own savings & 529 plans can help pay for
college
cars
a boat
a house
65
Properted leased in exchange for a weekly payment, with the option to eventually own the property is called
sellers fees
mortgage
rent-to-own
lease
66
This machine allows a person to withdraw cash $ from their bank accounts
BLT
BNB
BTM
ATM
67
Marketing involving endorsements & product placement from influencers =
social media marketing
commercials
advertisements
editorials
68
Which financial tool is best for everyday transactions such as paying bills & getting cash from the ATM?
529 plan
IRA account
savings account
checking account
69
What is "release from having to repay federal student loans"?
work study
loan forgiveness
loan assumption
loan repayment
70
The most basic type of bank account...allows a person to deposit money.
IRA
money market account
checking
savings
71
This card deducts money from a checking account to pay for goods or services
credit card
ATM
Debit card
index fund card
72
What pays for schools, roads, bridges, emergency services like the fire department, police, government?
donors
private funds
general funds
taxes
73
People buy this to protect themselves from losing $, if something happens to them or their property.
529 plan
insurance
stocks in a company
savings account
74
A loan that requires some sort of collateral =
secured loan
unsecured loan
net profit margin
principal
75
Short-term borrowing where a lender extends high-interest credit based on your income.
home equity line of credit
adjustable rate mortgage
pay day loan
mortgage
76
A contract outlining the terms under which one party agrees to rent property owned by another party
contract
deed
lease
mortgage
77
The 2nd largest stock market in the world.
Toyko Exchange
London Exchange
NYSE
NASDAQ
78
Total price divided by the quantity =
unit price
total price
price-to-earnings ratio
overdraft
79
The world's largest stock market.
NASDAQ
NYSE
Shanghai Stock Exchange
DAX
80
A means of protection from financial loss
benefits
treasury bills
disability insurance
insurance
81
A contract between an insurance company and the policy holder.
insurance policy
insurance deductible
insurance appraisal
insurance claim
82
Annual rate of interest charged to borrowers & paid to investors =
accrued interest
compound interest
simple interest
annual percentage rate
83
Post-secondary education is worth the money despite its cost since in the long run:
you will earn more $ in the long run
college is always affordable
no one should ever go to college
college is cheap

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