FBLA Personal Finance 2026: A+ Graded Practice
Exam
Newest Full-Length Test with Complete Verified
Questions & Detailed Answers
In the case of a savings account what is the principal? - ANSWER -The
amount of money you deposit The Federal Reserve System is - ANSWER
-The central banking system of the United States The rise in the level of
prices for goods and services is - ANSWER -Inflation The ways in which
groups of people change over time - ANSWER -Demographic trends
When considering a job offer what factors should you consider? -
ANSWER -Work environment, Factors affecting salary, Employee
Benefits Networking is a way of - ANSWER -Making and using contacts
to get job information A safe-deposit box is for keeping important
documents and they can be rented at - ANSWER -a bank Liabilities are
split between - ANSWER -Current and Long term Your net worth is
calculated as - ANSWER -Assets - Liabilities Take-home pay is -
ANSWER -gross pay less taxes and other deductions The money left over
after you have paid for the essentials- food,clothing,shelter,transportation,
and medication - ANSWER -Discretionary income Which of the
following are smart buying strategies? - ANSWER -Comparing brands,
comparing labels, comparing prices Small Claims court deals with legal
disputes with limits set by - ANSWER -States Direct deposit is most
commonly associated with - ANSWER -Pay checks The Federal Deposit
,Insurance Company insures bank deposits up to - ANSWER -$250,000 A
Money Market Account is a savings account that - ANSWER -has an
interest rate that varies monthly Compounding is the process in which
interest is earned - ANSWER -on the principal and previously earned
interest A stop payment order is - ANSWER -a request that an institution
not cash a particular check When doing a bank reconciliation, outstanding
checks should be? - ANSWER -subtracted from the bank statement
balance Two advantages of credit - ANSWER -use of product while
paying for it and easier returns/exchanges An example of open ended
credit is - ANSWER -Mastercard Most credit card companies offer a
grace period which is - ANSWER -a time period where you incur no
finance charges The finance charge on a loan or credit card is calculated
using the - ANSWER -APR Which of the following is not one of the C's
of credit? - ANSWER -Credit Rating Which of the following is not a
Consumer Credit Protection Law? - ANSWER -Equal Credit Billing and
Reporting Act Which of the following is not an advantage of renting
rather than buying? - ANSWER -Better financing Regulation that limit
how property in a given area can be used are known as - ANSWER -
Zoning laws A conventional mortgage is also known as - ANSWER -
fixed payment mortgage Real estate agents are paid a commission based
on the sale price of a home. This fee is usually - ANSWER -5%-7%
Generally, if you choose a safe investment, your rate of return will be -
, ANSWER -Low Distribution of money or stick to a corporations
stockholders is known as - ANSWER -Dividends Tax-deferred income is
income that will be - ANSWER -taxed as a later date Which of the
following is not a popular statistical average used to evaluate stocks? -
ANSWER -The New York Times Index Investors, who purchase
common stock, can make money from - ANSWER -Dividends and dollar
appreciation of stock value Which of the following do not influence the
price of stocks? - ANSWER -Tax rates An initial public offering in the
stock market is - ANSWER -The first time a company sells common
stock Why do corporations sell corporate bonds? - ANSWER -To raise
money when it is difficult to sell stock Treasury bills, also known as T-
bills, are sold in units of - ANSWER -$1,000 Treasury notes have a
maturity of - ANSWER -One and ten years A municipal bond is not
issued by which of the following - ANSWER -Federal fovernment Each
year an employer must send to each employee a - ANSWER -W-2 Your
federal income tax return is due to the IRS - ANSWER -April 15 What is
a tax audit? - ANSWER -An examination of your tax return by the
Internal Revenue Service What is insurance? - ANSWER -Protection
against financial loss In insurance the deductible is - ANSWER -The set
amount the policyholder must pay per loss Uninsured motorist's
protection is insurance - ANSWER -that covers you if you are involved in
an accident with an uninsured motorist Comprehensive Physical Damage
Exam
Newest Full-Length Test with Complete Verified
Questions & Detailed Answers
In the case of a savings account what is the principal? - ANSWER -The
amount of money you deposit The Federal Reserve System is - ANSWER
-The central banking system of the United States The rise in the level of
prices for goods and services is - ANSWER -Inflation The ways in which
groups of people change over time - ANSWER -Demographic trends
When considering a job offer what factors should you consider? -
ANSWER -Work environment, Factors affecting salary, Employee
Benefits Networking is a way of - ANSWER -Making and using contacts
to get job information A safe-deposit box is for keeping important
documents and they can be rented at - ANSWER -a bank Liabilities are
split between - ANSWER -Current and Long term Your net worth is
calculated as - ANSWER -Assets - Liabilities Take-home pay is -
ANSWER -gross pay less taxes and other deductions The money left over
after you have paid for the essentials- food,clothing,shelter,transportation,
and medication - ANSWER -Discretionary income Which of the
following are smart buying strategies? - ANSWER -Comparing brands,
comparing labels, comparing prices Small Claims court deals with legal
disputes with limits set by - ANSWER -States Direct deposit is most
commonly associated with - ANSWER -Pay checks The Federal Deposit
,Insurance Company insures bank deposits up to - ANSWER -$250,000 A
Money Market Account is a savings account that - ANSWER -has an
interest rate that varies monthly Compounding is the process in which
interest is earned - ANSWER -on the principal and previously earned
interest A stop payment order is - ANSWER -a request that an institution
not cash a particular check When doing a bank reconciliation, outstanding
checks should be? - ANSWER -subtracted from the bank statement
balance Two advantages of credit - ANSWER -use of product while
paying for it and easier returns/exchanges An example of open ended
credit is - ANSWER -Mastercard Most credit card companies offer a
grace period which is - ANSWER -a time period where you incur no
finance charges The finance charge on a loan or credit card is calculated
using the - ANSWER -APR Which of the following is not one of the C's
of credit? - ANSWER -Credit Rating Which of the following is not a
Consumer Credit Protection Law? - ANSWER -Equal Credit Billing and
Reporting Act Which of the following is not an advantage of renting
rather than buying? - ANSWER -Better financing Regulation that limit
how property in a given area can be used are known as - ANSWER -
Zoning laws A conventional mortgage is also known as - ANSWER -
fixed payment mortgage Real estate agents are paid a commission based
on the sale price of a home. This fee is usually - ANSWER -5%-7%
Generally, if you choose a safe investment, your rate of return will be -
, ANSWER -Low Distribution of money or stick to a corporations
stockholders is known as - ANSWER -Dividends Tax-deferred income is
income that will be - ANSWER -taxed as a later date Which of the
following is not a popular statistical average used to evaluate stocks? -
ANSWER -The New York Times Index Investors, who purchase
common stock, can make money from - ANSWER -Dividends and dollar
appreciation of stock value Which of the following do not influence the
price of stocks? - ANSWER -Tax rates An initial public offering in the
stock market is - ANSWER -The first time a company sells common
stock Why do corporations sell corporate bonds? - ANSWER -To raise
money when it is difficult to sell stock Treasury bills, also known as T-
bills, are sold in units of - ANSWER -$1,000 Treasury notes have a
maturity of - ANSWER -One and ten years A municipal bond is not
issued by which of the following - ANSWER -Federal fovernment Each
year an employer must send to each employee a - ANSWER -W-2 Your
federal income tax return is due to the IRS - ANSWER -April 15 What is
a tax audit? - ANSWER -An examination of your tax return by the
Internal Revenue Service What is insurance? - ANSWER -Protection
against financial loss In insurance the deductible is - ANSWER -The set
amount the policyholder must pay per loss Uninsured motorist's
protection is insurance - ANSWER -that covers you if you are involved in
an accident with an uninsured motorist Comprehensive Physical Damage
