Unit 2 Personal Finance Question Preview (ID: 57220)


Unit 2 Personal Finance. TEACHERS: click here for quick copy question ID numbers.

This type of saving/investment is low risk, has a low interest rate, and money can be withdrawn at anytime.
a) Certificate of Deposit
b) Savings Account
c) Stocks
d) Mutual Funds

Protection against risk is the primary reason people purchase this type of policy.
a) Auto Insurance
b) Homeowner’s Insurance
c) Health Insurance
d) All of the above

A long term investment (like paying for student loans, mortgaging a house or investing for your future, etc.) usually mean
a) 1-3 months
b) 3-6 months
c) Over a year
d) Don't invest at all, it's not a good thing to do

An example of a financial institution is:
a) A bank
b) A department store
c) A school
d) A post office

Who uses financial institutions?
a) Only account holders with a lot of cash
b) Almost anyone who has a checking or savings account, uses a debit or credit
c) College graduates
d) No one

Which of the following in a not-for-profit financial institution?
a) Credit Union
b) Bank
c) Department Store
d) Post Office

Which of the following is a for-profit financial institution?
a) Post Offics
b) Store
c) Credit Union
d) Bank

When it comes to personal savings, what does the acronym PYF stand for?
a) Prepare your future
b) Pay your friends
c) Pay yourself first
d) Paint your feet

Principal refers to:
a) Interest earned
b) The original invested amount
c) Stocks you own in a company
d) The time you wait for a certificate of deposit to mature

What is true about mutual funds?
a) They are less risky than stocks because your money isn’t in ONE place
b) They are low risk and low interest
c) Your money can be withdrawn at any time
d) Nothing is true about them, they are fake

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