Personal Finance1: Question Preview (ID: 20891)

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The amount borrowed that is still owed on a loan, not including the interest.
a) Principal b) Intereset c) Money d) APR
A represents Accounts L represents Liability I represents Income E represents Expenses= A person's networth.
a) True b) False c) d)
currency, traveler's checks, and checkable deposits( mediums of exchange)
a) M1 b) M2 c) MONEY d)
All of currency PLUS savings deposits, small time deposits( fees imposed if money withdrawn too early), money market mutual funds( minimum withdrawls of $500), and other deposits( limited to serve as a medium of exchange)
a) M1 b) M2 c) MONEY d)
Dr. Seuss book said that the first banks were churches.
a) True b) False c) d)
A good rule to follow is to take 25% from your gross pay for taxes.
a) True b) False c) d)
FICA represents: Federal Insurance Contributions Act
a) True b) False c) d)
Federal government programs and services are supported through_____.
a) Federal Income Tax b) State tax c) Social Security d)
__________ goes into a federal program that provides financial support for people who are retired.
a) Social Security b) 401K c) Federal program d)
A document showing an employee’s wages and deductions is an_______.
a) Earnings statement b) Benefit statement c) Pay stub d)
State government services are paid for by________.
a) State Income Taxes b) Federal Taxes c) Social Security Taxes d)
The amount of money before taxes taken out is?
a) Net pay b) Gross Pay c) d)
The actual amount of money you take home is?
a) Net Pay b) Gross Pay c) d)
Annual rate at which the consumer is charged for borrowing money.
a) Interest b) APR c) Money d) Principal
A bank that offers services to the general public and businesses.
a) Commercial Bank b) Credit Union c) d)
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