Money Management Review

Front

The common name for U.S. currency is:

Back

Green backs

Front

Which of the following does the Federal Reserve use to regulate the nation's money supply? Fiscal policy, Proposing legislation, Regulations

Back

Monetary policy

Front

Identify the background color of a U.S. $5.00 bill.

Back

Green

Front

Which of the following statements is usually true about individuals who are financially literate? They have high debt and low savings, They understand the basics of personal finance and money management, They almost always choose stocks and bonds that increase in value, They achieve all of their financial goals

Back

They understand the basics of personal finance and money management

Front

New coins and currency make their way into the general economy, consumers and businesses, through the distribution system of the:

Back

Federal Reserve System

Front

How should Scott select a PIN that will give him maximum protection against anyone else being able to find out what the PIN is? Options: Use his birth date as his personal identification number, Use a random selection of letters and numbers, Use his first initial and last name as his personal identification number, Use the name of a friend, family member, or pet

Back

Use a random selection of letters and numbers

Front

The primary sources of income for most people between the ages of 20 and 35 who are not living on a pension or social security are:

Back

Salaries, wages, and tips

Front

Which statement best describes the relationship between a person's educational level and that person's potential earning power? Options: Education has no effect on a person's potential earning power, A person with a professional degree is likely to earn at least four times as much per year as a person who did not complete high school, Attaining a higher educational level affects the earning potential only for people over 40 years old, Attaining a higher educational level decreases potential earning power

Back

A person with a professional degree is likely to earn at least four times as much per year as a person who did not complete high school

Front

What is budgeting?

Back

Planning how to spend and save your money wisely

Front

Why is saving money important?

Back

To have money for emergencies.