Dollars Sense Semester Review Question Preview (ID: 19840)


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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

The most common relationshop between risk and return in investing can be stated as:
a) a higher risk indicates lower return
b) lower risk indicates higher return
c) higher risk indicates higher return
d) no relationship exists between risk and return

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) unemployment insurance
b) worker's compensation
c) sick days
d) medicare

In relation to other options, how liquid is a savings account?
a) more liquid than cash
b) more liquid than a certificate of deposit
c) less liquid than mutual funds
d) more liquid than a checking account

Which of the following is not true in regards to investing in stock?
a) depending on the current market price, stockholders may pay different prices for the same stock
b) a stockholder owns part of the company
c) a stockholder will always receive a profit when the stock is sold
d) a stockholder may sell their stock at anytime

A bond is
a) a share of ownership in a company
b) a type of investment that has the potential for significant fluctuations over a short period of time
c) a type of investment that is only offered by depository institutions
d) a type of investment that a company issues to investors for a specified period of time

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) W4 Form
b) W2 Form
c) I9 Form
d) show up to work

A dependent is:
a) your parents
b) the taxpayer who supports a child
c) someone who is supported by the taxpayer
d) none of the above

The person who is renting a property and paying someone else:
a) landlord
b) tenant
c) equity
d) property owner

Money paid to a landlord to cover potential damage to the rented property is called:
a) down payment
b) mortgage
c) security deposit
d) closing cost

Reconcile your bank statement
a) to balance your check register with that of the bank
b) minimum amount of credit card bill that must be paid every month
c) person who works for someone else
d) signing the back of a check before cashing or depositing it

Take home pay
a) gross pay
b) net pay
c) overtime
d) withholdings

The maximum amount that can be charged on a credit card:
a) minimum payment
b) APR (annual percentage rate)
c) credit limit
d) gross pay

The company you work for
a) employer
b) employee
c) worker's compensation
d) outstanding check

Required charges by state, local and federal governments to help fund the federal government
a) Endorsements
b) social security
c) Taxes
d) Gross Pay

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