True/False Indicate whether the
statement is true or false.
|
|
1.
|
TRUE or FALSE?
Credit cards are an investment.
|
Multiple Choice Identify the
choice that best completes the statement or answers the question.
|
|
2.
|
Which of the following is NOT an example of a fixed expense?
A. | mortgage payment | B. | rent payment | C. | car insurance
payment | D. | groceries |
|
|
3.
|
What is the MOST common method used in the U. S. to become a home
owner?
A. | save for the purchase | B. | borrow most of the money | C. | get the house as a
gift | D. | pay in cash |
|
|
4.
|
What are the negative results of writing checks that total more than the money
left in the bank account?
A. | The bank charges you a fee. | B. | The person or company to whom you wrote the
check charges you a fee. | C. | You have to make the check good.
| D. | all of the above |
|
|
5.
|
Why is maintaining a good credit history important?
A. | A person with a poor credit history and low credit score may find it hard to get more
credit. | B. | Credit scores measure how likely a person is to pay off a loan and credit score is
based on a person’s credit history. | C. | Potential employers may check credit history
before offering a job. | D. | all of the
above |
|
Multiple Response Identify one
or more choices that best complete the statement or answer the question.
|
|
6.
|
Which of the following are examples of variable expenses? Select ALL that
apply.
|
|
7.
|
An investment is money spent on something with the goal of making more money in
the future. Which of the statements below is TRUE of investing?
|
|
8.
|
What are some of the consequences of not being able to pay off your credit?
Select ALL that apply.
|
Matching
|
|
|
In this chapter you learned the definitions for the terms shown below. Match the
finance term to its definition.
FINANCE TERMS: A. | Income | B. | Expenses | C. | Budget |
|
|
9.
|
a plan for how money will be used
|
|
10.
|
money that is earned or received
|
|
11.
|
money that will be spent
|
|
|
Below are 4 types of accounts covered in this chapter. Match the account type to
its description.
ACCOUNT TYPE: A. | investment
account | B. | checking account | C. | savings account | D. | credit
|
|
|
12.
|
a bank account which is most used to deposit pay checks and pay bills
from
|
|
13.
|
an account where money is deposited to earn more money over time
|
|
14.
|
a bank account where money is set aside for emergencies or unexpected
expenses
|
|
15.
|
an account which allows a person to buy something and pay for it later, usually
with interest added
|
|
|
Match the finance term below to its description.
FINANCE TERM A. | interest | B. | charitable giving | C. | overdraft |
|
|
16.
|
money spent out of an account that is not in the account
|
|
17.
|
money paid by a bank to the account holder for money saved
|
|
18.
|
donating money or goods to help others
|