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Dollars Sense Semester Review
Test Description: Semester Review
Instructions: Answer all questions to get your test result.
1) If you set a goal to save $100 a month for an emergency fund, giving up eating at a fast food restaurant to reach this goal is the:
A
interest
B
opportunity cost
C
trade-off
D
specific part of the SMART goal
2) The most common relationshop between risk and return in investing can be stated as:
A
lower risk indicates higher return
B
higher risk indicates higher return
C
a higher risk indicates lower return
D
no relationship exists between risk and return
3) Clumsy Clara tripped over an extension cord while giving a presentation at work. She went to the doctor. What benefit will cover her medical expenses?
A
sick days
B
worker's compensation
C
unemployment insurance
D
medicare
4) In relation to other options, how liquid is a savings account?
A
more liquid than a checking account
B
less liquid than mutual funds
C
more liquid than cash
D
more liquid than a certificate of deposit
5) Which of the following is not true in regards to investing in stock?
A
a stockholder owns part of the company
B
a stockholder may sell their stock at anytime
C
depending on the current market price, stockholders may pay different prices for the same stock
D
a stockholder will always receive a profit when the stock is sold
6) A bond is
A
a type of investment that has the potential for significant fluctuations over a short period of time
B
a type of investment that a company issues to investors for a specified period of time
C
a type of investment that is only offered by depository institutions
D
a share of ownership in a company
7) Miss Smith is starting her job at Aprons R' Us. In order for her job to know how much to withhold in federal taxes, Miss Smith has to fill out a
A
show up to work
B
I9 Form
C
W4 Form
D
W2 Form
8) A dependent is:
A
your parents
B
none of the above
C
someone who is supported by the taxpayer
D
the taxpayer who supports a child
9) The person who is renting a property and paying someone else:
A
equity
B
property owner
C
landlord
D
tenant
10) Money paid to a landlord to cover potential damage to the rented property is called:
A
down payment
B
mortgage
C
closing cost
D
security deposit
11) Reconcile your bank statement
A
minimum amount of credit card bill that must be paid every month
B
person who works for someone else
C
signing the back of a check before cashing or depositing it
D
to balance your check register with that of the bank
12) Take home pay
A
withholdings
B
overtime
C
net pay
D
gross pay
13) The maximum amount that can be charged on a credit card:
A
gross pay
B
credit limit
C
APR (annual percentage rate)
D
minimum payment
14) The company you work for
A
worker's compensation
B
employer
C
employee
D
outstanding check
15) Required charges by state, local and federal governments to help fund the federal government
A
social security
B
Gross Pay
C
Taxes
D
Endorsements
*select an answer for all questions
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