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Modified Study Guide Chapter 7 And 8 Q1-14
Test Description: Study Guide
Instructions: Answer all questions to get your test result.
1) Which is a benefit of the Roth ira?
A
grows tax free
B
unlimited tax contributions
C
you can withdraw at age 40.5
2) ___ are great for your emergency fund due to their liquidity and stability
A
compound interest
B
roth ira's
C
money markets
3) What is the difference between wholesale and retail price?
A
auction
B
foreclosure
C
mark up
4) What is a public sale in which property or items of merchandise are sold to the highest bidder?
A
pawn shop
B
auction
C
garage sale
5) The ___ price is usually a lot higher than the whole sale price
A
online
B
mark up
C
savings
6) What is a degree of uncertainty of return?
A
risk
B
portfolio
C
liquidity
7) In order to start investing you must have
A
any sum of money
B
no money
C
a lot of money
8) What is a retail shop where people sale items and the owner of the shop gets a percentage of the sale?
A
negotiate
B
consignment shop
C
walk away power
9) Using ___ gives you more bargaining power than using credit
A
checks
B
cash
C
gold
10) The benefit of diversification in your investment is
A
reduced return
B
increased risk
C
reduced risk
11) What is it called when you divide your money between several different types of investments?
A
liquidity
B
stocks
C
diversification
12) The ___ IRA grows tax free because you have already paid taxes on it.
A
401K
B
life insurance
C
Roth
13) What is a retail establishment that sells items that have been traded as security for cash?
A
pawn shop
B
mall
C
consignment shop
*select an answer for all questions
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