finance 2
FINANCE 2
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Examen
Financial Literacy Review Question And Answers
Which sentence does not describe one aspect of the relationship between banks and their clients? - Answers-Banks often use their clients' money without their knowledge or permission. What is the meaning of the word controversial as used in the text? - Answers-arguable What does the word temporarily mean as used in the passage? - Answers-for now The word requirement meant what in the article? - Answers-demand
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Financial Literacy Review Questions And Answers
PopularWhat is interest? - Answers-Interest is a small amount of extra money that the bank gives you just for keeping your money there. What is a credit report? - Answers-A credit REPORT contains information about the types and amount of credit an individual has and how they pay their bills. How many months emergency savings do experts recommend that you have? - Answers-THREE MONTHS How CAN you avoid check cashing fees? - Answers-You can avoid check cashing fees by depositing your paycheck in ...
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Financial Literacy-Q1 And Answers
Health Maintenance Organization (HMO) and a Preferred Provider Organization (PPO) are two types of health care insurance plans. True or False? The difference of a HMO Monthly Policy and a PPO Monthly policy is that HMO's only provide medical coverage within a specified list of networked hospitals and doctors where as a PPO lets you have more flexibility in choosing which doctors you would like however PPOs cost a lot more per month. True False - Answers-True Examine two policies of th...
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Financial Literacy Final Exam With Multiple Choices.
Use the following paystub information to answer the next two questions: Charlie's gross pay is $5,000. He had $1,400 taken out of that amount; $1,050 is in taxes and $350 is for savings and retirement funds. - Answers-- Of the money taken out of Charlie's checking account, which number corresponds to the amount for deductions? - Answers-$1,050 Based on the above paystub information, what is Charlie's net income? - Answers-$3,600 Which of these is considered to be a perk? - Answ...
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Financial Literacy 11-16 Exercises And Answers.
Which of the following is NOT a function of money? sustaining of value standard of value medium of exchange store of value - Answers-sustaining of value The dollar is the United States's basic monetary unit. True False - Answers-true One of the functions of money is to act as a store of value, which means __________. it keeps its value over time it is accepted universally at all stores it keeps its value better when being saved rather than being spent it is valued more t...
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Financial Literacy Section 2 Practice Questions With Multiple Answers.
Credit Standing/Credit Rating - Answers-Your ability to pay for goods or services. A financial institution's evaluation of an individual's ability to manage debt. Character (One of the 3 C's of Credit) - Answers-(One of the 3 C's of Credit) Your Character is determined by your conduct and living habits. Capacity (One of the 3 C's of Credit) - Answers-(One of the 3 C's of Credit) Your Capacity determines your ability to earn enough income to cover existing and new debts. ...
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Personal Finance Practice Exercise And Answers
Select the items from this list that are examples of good financial habits. - Answers-creating a budget no matter what your age asking advice from employees at a bank or financial advisers keeping good records saving as soon as you have a full-time job Read the following two descriptions. Decide who has better financial habits and attitudes. Lindsay doesn't feel that she will ever get her credit card paid off. After seeing her new bill, she tosses it aside so she doesn't have to ...
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Personal Financial Literacy Questions And Choices.
When choosing the right organization to be a part of, what information is important to check beforehand? - Answers-The "About" page on their website Their contact information and Tax ID Number Internet research and reviews Their financial information Accomplishments and track record The organization's transparency BUT NOT... What translation of the Bible they prefer or... Who they voted for in the last election When we grow in relationship with ___________...
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Financial Literacy Final Exam And Answers
Which of the following statements best describes how Americans are Credit is marketed so well that we desire to have it while completely dismissing the fact that interest rates and fees continue to destroy our financial well-being We are taught that we can buy happiness Buying things on credit has become acceptable in our culture We are driven by consumerism - Answers-Credit is marketed so well that we desire to have it while completely dismissing the fact that interest rates and fees conti...
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Financial Literacy: Personal Finance Questions And Answers.
Impulse - Answers-sudden, involuntary inclination prompting one to take an action which is not well thought-out Billing cycle - Answers-schedule of recurrent times in any regular system of preparing or sending bills For-Profit - Answers-(a business or institution) initiated or operated for the purpose of making a profit Nonprofit - Answers-not established for the purpose of making a profit ATM withdrawls - Answers-cash withdrawn by using a debit card and entering a PIN in an ATM C...
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Examen
Financial Literacy Exam 1 And Multiple Choices.
Step 2: Define Financial Goals - Answers--Write/formalize goals. -Attach a financial cost to each one. -When will you need the money to achieve the goal? -Analyze and revise your goals. SMART Step 3: Develop a Plan of Action - Answers--Flexibility: Life changes -Liquidity: Immediate use of cash by quickly and easily converting an asset. -Protection: Prepare for unexpected with insurance -Minimization of Taxes: Keep more of what you earn. Step 4: Implement Plan - Answers--Stick to it...
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Financial Literacy Assessment And Answers
3. _____ The sales tax in Jefferson county is 9%. Johannes purchased a new pair of shoes at a retail price of $30.00. How much sales tax did he have to pay? - Answers-$2.70. 4. What's the purpose of balancing or monitoring your checking account? - Answers-To help you calculate how much money you have in your account 5. The best way to ensure the accuracy and safety of your accounts is to: - Answers-Monitor your online accounts regularly 6. When it comes to investing, what is the typi...
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Financial Literacy Packet 2 Review 1+2 And Answers
Lenders determine your creditworthiness by all of the following EXCEPT: - Your grades in high school and/or college What information is shown on your FICO report? - Loan history If you identity is stolen, what are your first two steps? - Contact the correct agencies and fill out necessary reports How long can late payments and foreclosures stay on your FICO report? - Up to 7 years Which of the following does NOT help differentiate your credit report from others with the same name? - ...
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Financial Literacy Record Questions And Answers
Good money management is important for which of the following reasons? - Answers-all of the above Which of the following financial groups is subject to financial consequences? - Answers-all of the above What is the best definition of financial literacy? - Answers-knowing about money What is the main purpose for filing for bankruptcy? - Answers-to liquidate your assets in order to pay your debts A Chapter 7 bankruptcy involves which of the following? - Answers-You get a fresh start on...
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Examen
Financial Literacy Quarter 2 Test And Choices.
In case of Identity theft - Answers-Contact agencies, file reports, place fraud alerts on files, freeze funds Safe Identity - Answers-Practice safe internet use, check your credit report, be careful with your SSN, destroy records, secure your mail Chain money mails - Answers-Illegal everywhere in every way, don't do them Liquid Assets - Answers-Cash or investments easily converted into cash FDIC Insurance - Answers-Up to $250,000 per depositor APY - Answers-Annual percentage yi...
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Financial Literacy 6-10 Final Exercise With Answers.
Which of the following characteristics applies to the financial career of accountant? (Select all that apply.) - Answers-An accountant is a qualified professional. An accountant deals with financial records and reports. A financial planner is __________. - Answers-a qualified professional who helps individuals and businesses meet long-term financial goals A tax attorney is a qualified professional who is knowledgeable about tax law. - Answers-true Some people in the United States were ...
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Financial Literacy -Budgeting Exam And Answers
Income is defined as - Answers-Income is the money that people receive for work done. This could be formal such as wages for work or pocket money for chores around the house. Essential expenses are defined as - Answers-expenses that are essential to meet our needs eg food, shelter, warmth. It also includes payments you have a contractual obligation to meet, such as loan payments. Non-essential expenses are defined as - Answers-Expenses that are not essential to meet needs. They are in resp...
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Financial Literacy Section 2 Quiz And Answers.
Lenders determine your creditworthiness by all of the following EXCEPT: - Answers-Your grades in high school and/or college Banks are required to provide FDIC insurance: - Answers-That will guarantee your savings are safe up to $250,000 According to the workbook, what are the 3 C's of credit? - Answers-Character, capacity, capital The Rule of 72 is a way to figure: - Answers-How long it will take your money to double in a savings account All of the following are indicators that yo...
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Financial Literacy – Credit Final Exam And Answers
Activate - Answers-To prevent fraud, many card issuers require you to call them when you receive your new card in the mail to verify that the correct person has received it. Until proper ownership is confirmed, the card may not be activated. Automatic Payment: - Answers-If you have a savings or checking account with the same bank that issues your card, you may be able to automatically transfer money from your bank account to pay a credit card bill. Automatic payment eliminates the risk of pay...
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Examen
Uni Financial Literacy Exam Review And Answers.
Definition of living paycheck to paycheck - Answers-Needing your full paycheck to meet your minimum monthly living expenses, so that there's no extra money if a problem arises. What does the acronym SMART stand for? - Answers-Specific, Measurable, Attainable, Relevant, Timely What is the definition of real asset? - Answers-Assets that provide value of the long term. E.g. House If your net worth is $50,000 and you pay off your student loan from your savings account, how will your net ...
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Financial Literacy Exam And Answers.
Important elements for working for yourself. - Answers-Own hours, make your own rules, and own pay. Three mandatory deductions from a paycheck. - Answers-State income tax, federal income tax, and social security tax. The set of intangible assets individuals bring to their work: knowledge, skills, talent, and health. - Answers-Human capital Money a person receives in exchange for work or use of property. - Answers-Income Extra money given for good service is called - Answers-Tip Ex...
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Financial Literacy, Section 1 Unit 2 Quiz And Answers
Which type of interest would accumulate the most interest? - Answers-Annual compound interest Lucas's monthly income is $1,450.00, and his monthly expenses are $987.46. What are his available funds? - Answers-$462.54 Your employer pays an amount __________ to the amount you withhold for Social Security and Medicare. - Answers-Equal All the following are ways to save money EXCEPT: - Answers-Take out as many compound interest loans as possible If you have $400 in a bank account with...
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