PERSONAL FINANCIAL LITERACY EXAM

Front

Which of the following is a challenge that entrepreneurs often face: Tax breaks, Increased resources, Potential financial loss, Extra vacation time

Back

Potential financial loss

Front

Workers should learn to be adaptable as they move through their careers because

Back

the business environment is always changing.

Front

Many businesspeople are required to take continuing education classes to

Back

maintain their professional certifications.

Front

Which of the following is a disadvantage of using cash as a form of financial exchange? The risk of theft decreases., It is easy to steal or lose., Cash payments often incur fees., There is a higher risk of fraud.

Back

It is easy to steal or lose.

Front

An advantage of using cash as a payment method is the fact that

Back

there are no hidden fees.

Front

Molly and Tim have just had their first baby, Tommy. On top of their other financial considerations, such as saving for their retirement, they will now have to start saving and investing for Tommy's

Back

college education.

Front

Rita is looking for an easy-access bank account that she can use to earn interest on the money she receives from her part-time job. She hopes to use the account to put money aside for her future college expenses. Which account type best fits Rita's needs?

Back

Savings account

Front

What is a guideline to follow when completing a loan application?

Back

Present yourself in a positive light but be honest.

Front

Which of the following is a tax on employment? Excise tax, Payroll tax, Property tax, Sales tax

Back

Payroll tax

Front

Whenever Lucas goes to the dentist, he is responsible for paying 25% of the total bill. His dental insurance pays for the rest of each bill. The portion that Lucas pays is a(n)

Back

copayment.