NAF FINAL EXAM QUESTIONS (2025)
ANSWERED CORRECTLY TO SCORE A+
finance manager Answer - An individual who manages money and assets,
either for an individual or for an organization. A finance manager is responsible
for budgeting, forecasting, pricing analysis, product-line analysis, and decision
support for the organization.
financial advisor Answer - A professional who provides financial planning and
advice on financial matters.
financial analyst Answer - An employee of a bank, a brokerage, a financial
advisor, or a mutual fund company who studies companies and makes buy and
sell recommendations; the analyst often specializes in a single sector or
industry.
financial health Answer - A description of a person's or an organization's
finances.
financial holding company Answer - A financial institution that may offer a
broad range of banking-related services. The Federal Reserve Board regulates
financial holding companies.
financial intermediary Answer - An institution that provides as a service for
those who have extra money to save or lend and channels it to those who wish
to invest or borrow.
,financial literacy Answer - The ability of individuals to make appropriate
decisions in managing their personal finances.
maturity date Answer - The date when a bond's principal is repaid to the
investor.
mergers Answer - The combining of two or more companies into one larger
company.
soft skills Answer - Knowledge and abilities that are not specifically job-related
but aid in the ability to perform the job well; these include politeness,
professionalism, ability to communicate, and writing ability.
minimum payment Answer - The smallest amount a borrower can pay in a
billing cycle to keep the account in good standing.
mobile banking Answer - A type of banking whereby transactions are made via
a smartphone or tablet app. The account holder can transfer money between
accounts, pay bills, deposit checks, and monitor account activity.
mobile payment Answer - A type of smartphone app that lets an account
holder pay people and businesses using a cell phone. Also referred to as
"mobile money" and "mobile wallet."
money Answer - A current medium of exchange in the form of coins and
banknotes.
money market Answer - The financial market for short-term borrowing and
lending.
, NASDAQ (National Association of Securities Dealers Automated Quotations)
Answer - The largest electronic stock exchange in the United States, founded in
1971. Unlike the NYSE, it has no physical location and exists entirely in
cyberspace.
National Credit Union Administration (NCUA) Answer - An independent federal
agency that serves to supervise and regulate federal credit unions. It also
provides account insurance for many state-chartered credit unions through the
National Credit Union Share Insurance Fund.
net worth or wealth Answer - The value of a person's, community's,
company's, or country's assets less the amount of their liabilities.
New York Stock Exchange (NYSE) Answer - The oldest and largest securities
market in the United States, founded in 1972. It is located on Wall Street in
New York.
mortgage Answer - A loan used to purchase a home. The property is used as
security.
mortgage loan processor Answer - A person who prepares mortgage loan files
by reviewing loan applications, clarifying or obtaining additional information,
confirming mortgage loan application information by mailing verification forms
and contacting verification sources, and obtaining mortgage loan
documentation by ordering credit reports, appraisals, titles, and related
information.
municipal bond Answer - A bond issued by the state or local government. The
unique benefit of municipal bonds is that their interest is exempt from federal
taxation.
ANSWERED CORRECTLY TO SCORE A+
finance manager Answer - An individual who manages money and assets,
either for an individual or for an organization. A finance manager is responsible
for budgeting, forecasting, pricing analysis, product-line analysis, and decision
support for the organization.
financial advisor Answer - A professional who provides financial planning and
advice on financial matters.
financial analyst Answer - An employee of a bank, a brokerage, a financial
advisor, or a mutual fund company who studies companies and makes buy and
sell recommendations; the analyst often specializes in a single sector or
industry.
financial health Answer - A description of a person's or an organization's
finances.
financial holding company Answer - A financial institution that may offer a
broad range of banking-related services. The Federal Reserve Board regulates
financial holding companies.
financial intermediary Answer - An institution that provides as a service for
those who have extra money to save or lend and channels it to those who wish
to invest or borrow.
,financial literacy Answer - The ability of individuals to make appropriate
decisions in managing their personal finances.
maturity date Answer - The date when a bond's principal is repaid to the
investor.
mergers Answer - The combining of two or more companies into one larger
company.
soft skills Answer - Knowledge and abilities that are not specifically job-related
but aid in the ability to perform the job well; these include politeness,
professionalism, ability to communicate, and writing ability.
minimum payment Answer - The smallest amount a borrower can pay in a
billing cycle to keep the account in good standing.
mobile banking Answer - A type of banking whereby transactions are made via
a smartphone or tablet app. The account holder can transfer money between
accounts, pay bills, deposit checks, and monitor account activity.
mobile payment Answer - A type of smartphone app that lets an account
holder pay people and businesses using a cell phone. Also referred to as
"mobile money" and "mobile wallet."
money Answer - A current medium of exchange in the form of coins and
banknotes.
money market Answer - The financial market for short-term borrowing and
lending.
, NASDAQ (National Association of Securities Dealers Automated Quotations)
Answer - The largest electronic stock exchange in the United States, founded in
1971. Unlike the NYSE, it has no physical location and exists entirely in
cyberspace.
National Credit Union Administration (NCUA) Answer - An independent federal
agency that serves to supervise and regulate federal credit unions. It also
provides account insurance for many state-chartered credit unions through the
National Credit Union Share Insurance Fund.
net worth or wealth Answer - The value of a person's, community's,
company's, or country's assets less the amount of their liabilities.
New York Stock Exchange (NYSE) Answer - The oldest and largest securities
market in the United States, founded in 1972. It is located on Wall Street in
New York.
mortgage Answer - A loan used to purchase a home. The property is used as
security.
mortgage loan processor Answer - A person who prepares mortgage loan files
by reviewing loan applications, clarifying or obtaining additional information,
confirming mortgage loan application information by mailing verification forms
and contacting verification sources, and obtaining mortgage loan
documentation by ordering credit reports, appraisals, titles, and related
information.
municipal bond Answer - A bond issued by the state or local government. The
unique benefit of municipal bonds is that their interest is exempt from federal
taxation.
