Personal Financial Decision Making

Front

Which of the following breaks payments down into principal and interest? Adjustable rate, FICO Score, Loan Default, Amortization

Back

Amortization

Front

What components most directly affect the amount of the mortgage payment? Options: Income, gender, and age of the person applying for the mortgage; Interest rate, amount borrowed, length of loan; Collateral available at time of loan; Federal reserve guarantee, stability of the lending institution.

Back

Interest rate, amount borrowed, length of loan

Front

Ricks decision will be based on? Routine and major, Behaviors and habits, Values and goals, Work ethic & time management

Back

Values and goals

Front

What is the definition of a major decision?

Back

Choices that have long term effects on a person's life

Front

Which THREE of the following does a career plan include? (Choose 3) Educational credentials, Occupational goal, Parent/Guardian education, Skill development

Back

Skill development

Front

Which account would be the BEST choice for Sarah to manage her monthly expenses of rent, utilities, food, and entertainment?

Back

Checking Account

Front

What are important considerations when making a purchase? (Choose 4) Shipping Cost, Location, Price, Return Policy

Back

Return Policy

Front

Hannah needs a safe savings and spending tool that is liquid and accessible. Which of the following tools should she choose? Money Market Account, Cash, Checking Account, Certificate of Deposit

Back

Money Market Account

Front

What is the amount charged for the use of borrowed money?

Back

Interest

Front

What is the term used for take-home pay?

Back

Net Wages