Personal Finance Test

Front

Which of the following is not a determinant of credit worthiness? Character, Capacity, Capital, Regressive tax

Back

Regressive tax

Front

Before investing/saving, people should satisfy their

Back

Needs

Front

The potential for loss is

Back

Risk

Front

On average, who is likely to make more money during their working career? A college graduate, A high school dropout, A high school graduate, A tech school dropout

Back

A college graduate

Front

What is the penalty if you withdraw money from any of your retirement accounts early?

Back

The money you withdraw will be taxed at your regular tax rate.

Front

A guarantee of repayment required by lenders is called

Back

Collateral

Front

A reward or punishment designed to alter behavior is called a/an

Back

Incentive

Front

The amount you have to pay on a claim before the insurance company will begin payments is called

Back

Deductible

Front

A line of credit that lasts for a specified time period is called

Back

Closed-end credit

Front

The monthly payment you make when you buy insurance is called

Back

Premium