H&R Block Budget Challenge Exam
2025 Questions and Answers
Adjustable Rate Mortgage - --Answer --An ARM is a loan that has a varying
interest rate and payment based on an adjustment period. This loan is also known
as a variable rate mortgage.
Auto Insurance - --Answer --Insurance to protect a car owner in the event
of an accident or damage to a vehicle.
Budget - --Answer --A chart that documents how much money an individual
earns and spends.
Cash Flow - --Answer --Movement of the money you receive and the money
you spend.
Certificate of Deposit - --Answer --A savings alternative in which money is
left on deposit for a stated period of time to earn a specific rate of return.
City Income Tax - --Answer --Tax for public services provided in the city
(ex: sidewalks and city water systems)
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
2025 Questions and Answers
Adjustable Rate Mortgage - --Answer --An ARM is a loan that has a varying
interest rate and payment based on an adjustment period. This loan is also known
as a variable rate mortgage.
Auto Insurance - --Answer --Insurance to protect a car owner in the event
of an accident or damage to a vehicle.
Budget - --Answer --A chart that documents how much money an individual
earns and spends.
Cash Flow - --Answer --Movement of the money you receive and the money
you spend.
Certificate of Deposit - --Answer --A savings alternative in which money is
left on deposit for a stated period of time to earn a specific rate of return.
City Income Tax - --Answer --Tax for public services provided in the city
(ex: sidewalks and city water systems)
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
