FBLA Personal Finance Exam / FBLA Personal Finance
Preparation/FBLA Personal Finance Practice Exam With
Complete Questions And Correct Detailed Answers
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401(k) plan - An employer-based plan whereby employees set aside money for
retirement that is sometimes matched by employers
403(b) plan - A retirement account for employees of schools, tax-exempt
organizations, and government units
Adjusted balance method - A way to compute finance charges in which creditors
add finance charges after subtracting payments made during the billing period
Adjusted gross income - Income minus allowable exclusions (such as IRAs and
alimony)
AMEX - The American Stock Exchange, which is one of the organized stock
markets in the US
Amount due - When referring to credit, the minimum monthly payment you must
make, not the total amount you owe
Annual fee - The annual membership fee, if any, to have a credit card
Annual Percentage Rate (APR) - The cost of credit for one year expressed as a
percentage
Annual percentage yield (APY) - The true or effective rate of interest when
compounding is taken into effect.
Annual report - Information about a company that allows a potential investor to
make an investment decision. Annual reports are distributed by the company and
are generally designed to show the company in a favorable light
,Annuity - A contract or agreement whereby money is set aside for a specified
period of time, at the end of which you begin receiving payments at regular
intervals
Assets - Property that can be used to repay debt, such as stocks and bonds or a
car
At The Market - An order to buy or sell a stock at the best price currently available
Automated Teller Machine (ATM) - Electronic terminals located on bank premises
or elsewhere, through which customers of financial institutions may make
deposits, withdrawals, or other transactions as they would through a bank teller
Automatic deductions - Authorized deductions from your checking account, such
as for insurance premiums, safe deposit box fees, or other payments
Available credit - The unused portion of the credit for which one is eligible
Average daily balance - A method of computing finance charges in which creditors
add your balances for each day in a billing period, and then divide by the number
of days in the period
Back-end load - A mutual fund where you pay a commission when you sell your
shares
Balance - To reconcile the sums of the debits and credits of an account
Balanced fund - A mutual fund that invests in a mix of stocks and bonds to
minimize risks
Bank - A financial institutions that accumulates deposits and channels money into
lending activities
Bank statement - The record of checks paid, deposits made, and all other activity
on an account
, Bankruptcy - Legally insolvent; not capable of paying bills
Bear market - A market characterized by falling prices of 15 percent or more;
characterized by pessimism
Bearer bond (coupon bond) - A bond not registered by an issuing company
Benefits - Sick pay, vacation time, and other company-provided supplements to
income
Billing cycle - The number of days between your last bill and your current bill
Billing error - Any mistake in your monthly statement as defined by the Fair Credit
Billing Act
Blank endorsement - The signature of the payee written on the back of the check
exactly as it appears on the front of the check
Blue chip stocks - Stocks in the biggest, most established, and consistently
profitable companies in the United States
Bond fund - A mutual fund that invests in government, corporate, or tax-exempt
bonds with different maturity dates
Bonds - Debt obligations of corporations or the government
Borrower - The person who borrows money or uses another form of credit
Broker - A person who buys and sells stock on an exchange, on behalf of a buyer
or investor
Budget - An organized plan whereby you match your expected income to your
expected outflow
Bull market - A rising stock market (in both volume and prices), which is
characterized by optimism
Preparation/FBLA Personal Finance Practice Exam With
Complete Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+|Brand New
Version!!
401(k) plan - An employer-based plan whereby employees set aside money for
retirement that is sometimes matched by employers
403(b) plan - A retirement account for employees of schools, tax-exempt
organizations, and government units
Adjusted balance method - A way to compute finance charges in which creditors
add finance charges after subtracting payments made during the billing period
Adjusted gross income - Income minus allowable exclusions (such as IRAs and
alimony)
AMEX - The American Stock Exchange, which is one of the organized stock
markets in the US
Amount due - When referring to credit, the minimum monthly payment you must
make, not the total amount you owe
Annual fee - The annual membership fee, if any, to have a credit card
Annual Percentage Rate (APR) - The cost of credit for one year expressed as a
percentage
Annual percentage yield (APY) - The true or effective rate of interest when
compounding is taken into effect.
Annual report - Information about a company that allows a potential investor to
make an investment decision. Annual reports are distributed by the company and
are generally designed to show the company in a favorable light
,Annuity - A contract or agreement whereby money is set aside for a specified
period of time, at the end of which you begin receiving payments at regular
intervals
Assets - Property that can be used to repay debt, such as stocks and bonds or a
car
At The Market - An order to buy or sell a stock at the best price currently available
Automated Teller Machine (ATM) - Electronic terminals located on bank premises
or elsewhere, through which customers of financial institutions may make
deposits, withdrawals, or other transactions as they would through a bank teller
Automatic deductions - Authorized deductions from your checking account, such
as for insurance premiums, safe deposit box fees, or other payments
Available credit - The unused portion of the credit for which one is eligible
Average daily balance - A method of computing finance charges in which creditors
add your balances for each day in a billing period, and then divide by the number
of days in the period
Back-end load - A mutual fund where you pay a commission when you sell your
shares
Balance - To reconcile the sums of the debits and credits of an account
Balanced fund - A mutual fund that invests in a mix of stocks and bonds to
minimize risks
Bank - A financial institutions that accumulates deposits and channels money into
lending activities
Bank statement - The record of checks paid, deposits made, and all other activity
on an account
, Bankruptcy - Legally insolvent; not capable of paying bills
Bear market - A market characterized by falling prices of 15 percent or more;
characterized by pessimism
Bearer bond (coupon bond) - A bond not registered by an issuing company
Benefits - Sick pay, vacation time, and other company-provided supplements to
income
Billing cycle - The number of days between your last bill and your current bill
Billing error - Any mistake in your monthly statement as defined by the Fair Credit
Billing Act
Blank endorsement - The signature of the payee written on the back of the check
exactly as it appears on the front of the check
Blue chip stocks - Stocks in the biggest, most established, and consistently
profitable companies in the United States
Bond fund - A mutual fund that invests in government, corporate, or tax-exempt
bonds with different maturity dates
Bonds - Debt obligations of corporations or the government
Borrower - The person who borrows money or uses another form of credit
Broker - A person who buys and sells stock on an exchange, on behalf of a buyer
or investor
Budget - An organized plan whereby you match your expected income to your
expected outflow
Bull market - A rising stock market (in both volume and prices), which is
characterized by optimism
