CFL Module 9 Exam Questions with
100% Correct Answers.
gross pay
total salary or wages earned during the pay period
identity theft
the use of your personal information by someone else to commit fraud or other crimes
inflation
increase in the general level of prices for goods and services
interest
The fee someone pays to be able to borrow money, either you pay on money you borrow
(like when you take out a loan to buy a car) or you make on the money you save (like when a
bank pays you interest on money you put into a savings account).
investing
a strategy to earn more on your money than the rate of inflation
liabilities
debts that you owe
Medicare
A tax that pays for health care for people aged 65 and over.
minimum wage
the lowest pay rate allowed by law for each regular hour of work
mortgage
, A type of loan used to finance the purchase of real estate.
net pay
the amount of your paycheck after deductions
net worth
the difference between your assets and your liabilities
overtime pay
pay received for hours worked in addition to regular hours
phishing
A scam where someone tries to deceive you into providing personal information by
impersonating someone, like a bank representative.
principle
Sum of money you put into an account or the amount of money (minus interest) you owe on a
debt.
return
How much money an investor could potentially earn from an investment, usually expressed as a
percentage
risk
The chance you take that an investment may or may not result in a return.
Social Security
A tax that pays for the retirement benefits for people who are currently retired and for the future
retired population.
stock
Shares of ownership in a company. if the company grows in value, then the value of this
grows in value as well.
100% Correct Answers.
gross pay
total salary or wages earned during the pay period
identity theft
the use of your personal information by someone else to commit fraud or other crimes
inflation
increase in the general level of prices for goods and services
interest
The fee someone pays to be able to borrow money, either you pay on money you borrow
(like when you take out a loan to buy a car) or you make on the money you save (like when a
bank pays you interest on money you put into a savings account).
investing
a strategy to earn more on your money than the rate of inflation
liabilities
debts that you owe
Medicare
A tax that pays for health care for people aged 65 and over.
minimum wage
the lowest pay rate allowed by law for each regular hour of work
mortgage
, A type of loan used to finance the purchase of real estate.
net pay
the amount of your paycheck after deductions
net worth
the difference between your assets and your liabilities
overtime pay
pay received for hours worked in addition to regular hours
phishing
A scam where someone tries to deceive you into providing personal information by
impersonating someone, like a bank representative.
principle
Sum of money you put into an account or the amount of money (minus interest) you owe on a
debt.
return
How much money an investor could potentially earn from an investment, usually expressed as a
percentage
risk
The chance you take that an investment may or may not result in a return.
Social Security
A tax that pays for the retirement benefits for people who are currently retired and for the future
retired population.
stock
Shares of ownership in a company. if the company grows in value, then the value of this
grows in value as well.
