Final Review Question Preview (ID: 13649)

Final Review.

The three variables that affect saving money are:
a) amount, interest, and credit
b) amount, interest, and time
c) amount, stocks, and time
d) none of the above

A disadvantage of credit is that:
a) it allows you to track the money you are spending
b) it encourages impulse or unplanned buying
c) it allows you to establish credit
d) it allows you to buy now and pay later

Which of the following about debit cards is true?
a) A debit card is just another name for a credit card
b) Using a debit card is the same as securing a loan
c) Use of a debit card takes money directly from a person's bank account
d) A debit card can be used even if there is not enough money in a person's account

Which of the following is TRUE about sales taxes?
a) Groceries are taxable items
b) The federal government deducts sales tax if your income is very low
c) You don't have to pay sales tax if your income is very low
d) Sales taxes make things more expensive for you to buy

The total amount of monthly income remaining after all deductions have been taken out is known as:
a) gross annual income
b) gross monthly income
c) net annual income
d) net monthly income

An investment company that pools money from shareholders to buy various stocks and bonds is called a:
a) Savings account
b) Stock
c) Bond
d) Mutual fund

A record of spending or of probable expenditures and income for a given period of time is called:
a) a budget
b) interest
c) credit
d) investments

An account provided by a bank or credit union where you can put money aside and earn interest at a low rate is a:
a) savings account
b) stock
c) bond
d) mutual fund

Long-term funds that represent part ownership in a company and are sold as shares are called
a) savings accounts
b) stocks
c) bonds
d) mutual funds

An investment in which a buyer receives a certain amount of money at the end of a stated period, plus interest payments at specific times, is called:
a) savings account
b) stocks
c) bond
d) mutual fund

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