Personal Finance: Question Preview (ID: 19389)

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Each day after school, Brittany has soccer. She could spend that time babysitting for extra cash. Babysitting his her
a) investment
b) budget
c) opportunity cost
d) short term goal

All of these are forms of cash
a) checks, credit cards and coins
b) currency, checks and debit cards
c) currency, coins, and credit cards
d) credit cards, checks and debit cards

Saving money means giving up the opportunity cost to
a) spend in the present
b) apply for credit cards
c) have money in the future
d) save money

Saving money for less than 2 months is
a) a short term goal
b) long term goal
c) unrealistic
d) impossible

Spending money, time or items toward future benefits for making more money is called
a) saving
b) borrowing
c) investing
d) paying off

What is the term for the money you earn?
a) interest
b) income
c) expense
d) savings

Agreement to receive cash, goods, or services now and pay for them at a later date
a) savings
b) investment
c) income
d) credit

The term for the second best choice or alternative a person gives up to get something else?
a) investment
b) need
c) opportunity cost
d) budget

A card that allows money to be withdrawn from your account
a) debit card
b) credit card
c) gift certificate
d) check

When dealing with credit cards it is important to know your card's
a) annual percentage rate
b) payment due date
c) credit limit
d) A.B. AND C

Who is most likely to have high finance charges?
a) an individual who pays on time
b) an person who pays off credit card balances each month
c) a person with a bad credit history and a lot of debt
d) a customer who pays bills online

A store is offering 10% off for customers who use their store card. This is an example of making purchases using
a) cash
b) currency
c) credit
d) debit

Susan is in 5th grade. Her dream is to one day be a doctor. This is a _____________
a) long term goal
b) short term goal
c) savings
d) investment

Sam started a college fund for his son when he was born. Each month he transfers $100 from his checking account to the fund. By doing this, he is both _________ and ___________.
a) saving and borrowing
b) saving and investing
c) investing and borrowing
d) spending and saving

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