How does a person calculate their NMI?

Divide Gross Annual Income by 12

Money received on a regular basis for work

What do insurance policies do for people?

Protects a person against financial loss or damage

Making a purchase based on an immediate want.

The three main sources of tax revenue are

Income, sales, and property tax

Groups of jobs and industries related by skills or products

Social Security provides benefits to whom?

People who are sick, disabled, or retired.

studbud

Junior Achievement Finance Park Review

15 termsStudBud Administration610 plays

A review for field trip to JA finance park.

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
Convert the Percentage to a decimal.. 5%
.5
.005
.05
5.0
2
True or False: Students are too young to pay taxes?
False
True
3
Setting up a budget is important because
Allows a person to track spending
All of the above
Prevents Overspending
It allows for saving to achieve goals
4
To prevent identify theft it is important to
All of the above
Keep some things private
Use strong passwords on technology devices
Shred financial documents
5
How does a person calculate their NMI?
Divide Gross Annual Income by 12
Divide Gross Annual Income by 6
6
What is an income?
Money lost in the stock market
Money received on a regular basis for work
Money received on special occasions
Money that is gained by inheritance
7
What is a benefit to credit cards?
A person can buy a product that they can't pay for instantly
Helps to build a good credit history
Freedom to carry small amounts of cash
All of the above
8
If a new pair of shoes cost $19.99 what will it cost with a 7 % tax?
21.38
19.99
25.50
32.75
9
What do insurance policies do for people?
Take their money without seeing any benefits
Protects a person against financial loss or damage
10
What does the acronym GAI stand for?
Gross Annual Income
Goal, Action, Investment
11
Impulse buying is
Buying products because of peer pressure
Money that is set aside for long term goals
Money spent on basic goods or needs
Making a purchase based on an immediate want.
12
The three main sources of tax revenue are
Income, sales, and property tax
Income, food, and transportation tax
13
Career clusters are
Groups of jobs and industries related by skills or products
All the different careers a person will have in life
14
Social Security provides benefits to whom?
People who are homeless or jobless.
People who are sick, disabled, or retired.
15
The acronym NMI stands for
Net Monthly Income
Net Management Investment
New Money Invested
New Monthly Income

Junior Achievement Finance Park Review Flashcards | StudBud