Personal Finance test prep

Front

Which factor MOST often has the greatest role in determining the amount of money that workers earn during their careers? Options: their credit worthiness, their educational level, their race and/or ethnicity, the amount of money their parents’ made

Back

their educational level

Front

Which of the following is NOT an incentive to open a savings account? to provide a safety net, to store money for a future goal, to earn interest slowly and safely , to earn a high rate of interest

Back

to earn a high rate of interest

Front

Your insurance premium is

Back

the monthly payment for your insurance

Front

Less wealthy people are hurt more by which type of tax? Options: Income tax, Sales tax, Progressive tax, None of these

Back

Sales tax

Front

This financial institution offers short term, high interest loans, which require collateral like car.

Back

Title pawn company

Front

Janice and James both go to the mall and spend $500 plus an 8% sales tax. This is an example of which of the following types of taxes? Proportional tax, Regressive tax, Progressive tax, Property tax

Back

Regressive tax

Front

How does an increase in sales taxes affect consumer spending and saving?

Back

consumers save more and spend less

Front

Adrian had $300,000 in his savings account when his bank declared bankruptcy. Which of the following is true? Adrian got all of his money back, Adrian lost all of his savings, Adrian lost half of his savings, Adrian got most of his money back

Back

Adrian got most of his money back

Front

Which sentence describes the risks and returns of investing in stocks? Options: they offer low risk and the lowest potential return, they offer high risk and the highest potential return, they offer low risk, but highest potential return, they offer high risk, but the lowest possible return

Back

they offer high risk and the highest potential return

Front

Which of these is LEAST LIKELY to determine credit worthiness? payment history, capacity, criminal record, collateral

Back

criminal record