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FP I Objective 4 Vocab Review
Test Description: FP Objective 4 vocab review
Instructions: Answer all questions to get your test result.
1) The amount of money people have to spend, or dispose of, after they have paid their taxes; also called discretionary income
A
disposable income
B
monopoly
C
fiscal policy
D
price supports
2) A condition in which a market is controlled by one supplier with no substitute goods or services readily available
A
fiscal policy
B
price supports
C
monopoly
D
disposable income
3) The regulatory agency established by the federal government to enforce laws that protect consumers’ health
A
Federal Trade Commission
B
Licensing
C
Federal Communications Commission
D
Food and Drug administration
4) An illegal activity in which a business charges different customers different prices for similar amounts and types of products
A
price supports
B
licensing
C
monopoly
D
price discrimination
5) Government financial help given to a business
A
price support
B
subsidy
C
monopoly
D
tariff
6) A tax on imported goods; also called duty
A
public good
B
tariff
C
subsidy
D
price support
7) Building wealth by using money to make money
A
investing
B
laws
C
insurance
D
lending
8) A contractual agreement in which one company (insurer) will pay for specified losses incurred by the other company (insured) in return for installment payments (premium)
A
securities
B
investing
C
insurance
D
laws
9) a dishonest scheme; a fraud
A
insurance
B
scams
C
laws
D
accounting
10) When a company’s owners, directors, or key management trade its stock; illegal when trading on information that is not disclosed to the public
A
consumer finance
B
insider trading
C
laws
D
financial services
11) The process of keeping and interpreting financial records
A
lending
B
accounting
C
insurance
D
finance
12) trading of one currency for another
A
lending
B
consumer finance
C
foreign exchange
D
accounting
13) The legal owning or lending agreements between individuals, businesses, or governments
A
securities
B
laws
C
investing
D
lending
14) professional services involving the investment, lending, and management of money and assets.
A
financial services
B
laws
C
accounting
D
investing
*select an answer for all questions
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