Money Management Question Preview (ID: 5281)


Final Exam Review: Budgeting & Banking. TEACHERS: click here for quick copy question ID numbers.

An example of a Fixed Expense is
a) Car Payment
b) Going shopping each month
c) Buying gas once a week for your car
d) Paying your credit card bill

An example of a Variable Expense is
a) Buying gas once a week for your car
b) Rent payment
c) Car insurance payment
d) Car payment

How much does the FDIC/NCUA insure your money?
a) $250,000 for an individual account
b) $100,000 for an individual account
c) $400,000 for a joint account
d) $250,000 for a joint account

A credit union is different from a bank because
a) The account holders own the bank which gets them better interest rates
b) It is insured, where a bank is not
c) it allows you to open a checking and savings account
d) you are able to get direct deposit

Is interest earned on your savings account taxed?
a) Yes
b) No
c)
d)

Which of the following bank accounts is most liquid?
a) Checking account
b) Savings account
c) Certificate of Deposit
d) IRA (Individual Retirement Fund)

Who can influence your decision making?
a) Friends
b) Family
c) Media
d) All are correct answers

A SMART goal should be:
a) Specific, Measureable, Attainable, Realistic, and Time Bound
b) Specific, Manageable, Artistic, Right, and Time Bound
c) Saved, Manageable, Attainable, Reached, and Tested
d) Saved, Measureable, Attainable, Reachable, and Tested

A SMART goal is for
a) Long-term financial planning
b) Short-term financial planning
c) Medium-term financial planning
d) not SMART at all

When Paying Yourself First, how much should you save from each paycheck?
a) 10%
b) 12%
c) Rate of Inflation
d) 2%

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