Question 1 options:
cash flow statement
budget plan
financial plan<...
Business, 24.04.2020 16:54 madeleine1102
Question 1 options:
cash flow statement
budget plan
financial plan
balance sheet
Question 2 (1 point)
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Which of the following is true about effective budgets?
Question 2 options:
It should have a simple format
It must be realistic
It should be evaluated frequently
All of the above are true
Question 3 (1 point)
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Which of the following best defines a Credit Union?
Question 3 options:
a user-owned, not-for-profit cooperative financial institution
a nationwide banking plan set up by the federal government to supervise banks
a bank that offers a full range of financial services
a federal agency that protects deposited money in case of bank failure
Question 4 (1 point)
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Suppose you borrow $125 at a rate of 12% for 2 years. Calculate the amount of interest using the formula for simple interest. How much interest will pay for this loan?
Question 4 options:
35
30
25
45
Question 5 (1 point)
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Which of the following is a Fixed Expense?
Question 5 options:
food
Car payment
utilities
clothing
Question 6 (1 point)
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What is the first step for creating a budget?
Question 6 options:
maintain financial records
plan budget categories
set financial goals
evaluate your budget
Question 7 (1 point)
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American Express is an example of which type of credit card?
Question 7 options:
retail store card
charge card
bank card
affinity card
Question 8 (1 point)
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Which of the following is an advantage of using credit?
Question 8 options:
overbuying
lower credit rating
higher prices
convenience
Question 9 (1 point)
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This is attached to your paycheck (or sent to you electronically) and lists your gross pay, net pay, and taxes paid for a specific time frame.
Question 9 options:
tax return
paycheck stub
pay receipt
cash flow statement
Question 10 (1 point)
Saved
Which of the following best defines the Federal Reserve System?
Question 10 options:
a user-owned, not-for-profit cooperative financial institution
a federal agency that protects deposited money in case of bank failure
a nationwide banking plan set up by the federal government to supervise and regulate banks
a bank that offers a full range of financial services
Question 11 (1 point)
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The first document that must be completed when opening up a checking account is the .
Question 11 options:
deposit slip
reconciliation statement
signature card
check register
Question 12 (1 point)
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The remaining amount of your paycheck after taxes and deductions are taken out is called your .
Question 12 options:
net pay
total pay
cash outflow
gross pay
Question 13 (1 point)
An IRA is which type of income source that can be used during retirement?
Question 13 options:
social security
pension
annuities
retirement account
Question 14 (1 point)
Which of the following best defines the FDIC? (Federal Deposit Insurance Corporation)
Question 14 options:
a user-owned, not-for-profit cooperative financial institution
a federal agency that protects deposited money in case of bank failure
a nationwide banking plan set up by federal government to supervise banks
a bank that offers a full range of financial services
Question 15 (1 point)
The main activity of a credit bureau is to .
Question 15 options:
calculate the cost of credit for lenders and borrowers
report information on the use of credit by consumers
determine when a person is overusing credit
contact the government when lenders over-charge for credit
Question 16 (1 point)
The money that is promised to be paid is called the .
Question 16 options:
principal
deposit
interest rate
payee
Question 17 (1 point)
Which of the following is a variable expense?
Question 17 options:
car payment
insurance
water bill
mortgage payment
Question 18 (1 point)
A legal process that reduces or eliminates ALL amounts owed. This is the last and final option to use when you can not pay your bills and credit cards. You claim .
Question 18 options:
Financial Emergency
Bankruptcy
Monetary Crisis
National Financial Debt
Question 19 (1 point)
A reputation for paying bills on time relates to a person's .
Question 19 options:
capital
collateral
character
capacity
Question 20 (1 point)
Another term for the amount of a paycheck after taxes and deductions are removed.
Question 20 options:
net worth
take home pay
cash inflow
earned income
sorry about all this
Answers: 2
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