Have an account?
Skip to Content
Build your own quiz
Suggestions for you
35 questions
Show Answers
See Preview
- 1. Multiple ChoiceThe cost of borrowed money, usually expressed as a percentage.interestsavings planscarcepurchase
- 2. Multiple ChoiceAmount of money originally borrowedMortgagePrincipalAnnual percentage rate (APR)Finance company
- 3. Multiple ChoiceWhat does CD stand for when talking about investments?Calculated DividendCertificate of DepositCentral DollarCurrent Deposit
- 4. Multiple Choice
A mutual fund allows investments to be ___________.SecuredGuaranteedDiversifiedMinimal - 5. Multiple ChoiceBecause mutual funds spread your investment around in multiple stocks and bonds, they are a great example of this termdiversificationoverdraftdebtbeneficiary
- 6. Multiple ChoiceThis term refers to the original amount of a loan OR the original amount of money invested.PrincipalInterestRebateFixed Rate
- 7. Multiple ChoiceThis is just a savings account with a slightly higher interest rate because the saver commits to a longer saving period for a set amount deposited.C.D.debtbeneficiary
- 8. Multiple ChoiceThis is an obligation of repayment, usually including principal plus interest; any time you owe someone money.compound interestemergency fundAPRdebt
- 9. Multiple ChoiceThe availability of money; how quickly you can convert it into cash in your hand is its _______.diversityliquidityyieldgratuity
- 10. Multiple ChoiceSomething of value used to secure a loanFinance chargeUnsecured loanCollateralInterest
- 11. Multiple ChoiceAmount of money a borrower must pay for the usage of someone else’s moneyFinance chargeUnsecured loanCollateralInterest
- 12. Multiple ChoiceWhat happens if you do not pay a credit card bill on time?Use your debit cardYou go into debtDeclare bankruptyPay interest
- 13. Multiple ChoiceWhich card takes the money out of your account immediately?CreditDebit
- 14. Multiple ChoiceWhich bank account earns you the most interest?SavingsCheckingCertificate of Deposit
- 15. Multiple ChoiceWho pays interest on a loan?The borrowerThe bank
- 16. Multiple ChoiceWho pays interest when you deposit money in the bank?The depositorThe bank
- 17. Multiple ChoiceTo measure the stock market as a whole people look toDow JonesStockbrokersIndividual stocksUnemployment rate
- 18. Multiple ChoiceStock brokers can a portion of the profit they make, this is calledCommutationInterestCommissionS&P 500
- 19. Multiple ChoiceBad credit can affect your ability toBuy a homeGet a jobGet a loanAll of the above
- 20. Multiple ChoiceWhat will you pay back if you borrow $principal onlyinterest onlyinterest and finance chargesprincipal + interest
- 21. Multiple ChoiceThe least amount of money you can pay on a credit card per month.Credit LimitMinimum PaymentAnnual Percentage RateOpportunity Cost
- 22. Multiple ChoiceWhat do debit cards and checks have in common?The money comes directly out of your accountYou can pay the full amount laterYou are really taking out a small loan
- 23. Multiple ChoiceWhich of the following best describes what dividends are?The increased value of a stock.A periodic payment to the owners of a stock.A reward for selecting good stocks.
- 24. Multiple ChoiceMoney owed to a person or a businessDebitCreditDebtLate Fee
- 25. Multiple ChoiceIn general, the higher the potential return on an investment, the riskier the investment.TrueFalse
- 26. Multiple ChoiceIf a bank pays 3% interest on savings, how much interest will it charge for loans?3%less than 3%more than 3%the discount rate
- 27. Multiple Choice
Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?
Credit Card
Debit Card
Gift Card
Rewards Card
- 28. Multiple Choice
In the past 12 months, Mia has made 4 late payments on her credit card. How will this affect her credit score?
Her score will go up
Her score will stay the same.
She will likely get more credit card offers.
Her credit score will go down.
- 29. Multiple ChoiceThe advantage of a 30 year mortgage over a 15 year mortgage is that you pay less over the life of a loanTrueFalseMaybe
- 30. Multiple ChoiceWhich is an asset?MortgageBalance on a credit card or loanBoat loanStocks you own
- 31. Multiple ChoiceExample of a Liability:BoatInsurance PaymentElectric BillSnowmobile Loan
- 32. Multiple ChoiceInterest is:The cost of borrowing moneyA good thing to have to payThe amount of money that you borrow to buy somethingA word that we used in class but has no real meaning
- 33. Multiple ChoiceMaria and Sara borrow $15,000 from the same bank to buy the same kind of car. Maria's credit score is 732 and Sara's credit score is 588. Who is likely to pay the lower finance charge?They will pay the same because they are borrowing from the same bankMariaSaraThey will pay the same because they are buying the same kind of car
- 34. Multiple ChoiceChoose the best suggestion for building and maintaining a good credit scoreHave money in savings and protected against identity theftKeep debt low and pay bills on timeMake safe investments and set clear financial goalsComparison shop and follow a budget
- 35. Multiple ChoiceA loan can be denied by a lender because of a person's-educationhealthcredit historygender
- Answer choicesTagsAnswer choicesTags