Foundations in Personal Finance PRE/POST TEST

Front

A liability can be described as

Back

Something you owe; a debt

Front

The amount of money you get paid after taxes are taken out is called

Back

Take-home pay

Front

Money taken out of your paycheck for taxes is called

Back

Withholding

Front

_____________ represent small pieces of ownership in a company (fill in the blank with correct answer).

Back

Stocks

Front

In which of the following should you keep your emergency fund? Stocks, Money market account, Mutual funds, Certificates of deposit

Back

Money market account

Front

The money you pay for an insurance policy is called your

Back

Premium

Front

Which of the following types of insurance would cover your costs associated with a car accident? Auto, Health, Disability, Long-term care

Back

Auto

Front

An economic system based on the private ownership of business and the products made and sold is called a

Back

Market economy

Front

An economic system in which the government owns, controls, and regulates all aspects of production, trade, and income generated by the most valuable resources is called a

Back

Command economy

Front

A market economy is driven by the economic principle of

Back

Supply and demand