Banking, Budgeting, Investing Review

Would a car payment be a fixed or flexible expense?

• Fixed
• Flexible

You should keep money that you do not use everyday in your checking account

• True
• False

Which of the following is NOT a type of check endorsement?

• Blank
• Special
• Commercial
• Restrictive

Your emergency fund should cover ________ months of living expenses in case of job layoff or illness

• 10-12
• 24
• 2-4
• 6-8

(The original dollar amount + earned interest) x APY x years = rate of return is the formula for...

• Simple Interest
• Compound Interest

Certificates of Deposit are the most liquid savings option

• True
• False

How many years would it take your money to double at a 12% APY? 

• 4
• 8
• 9
• 6

A balance sheet is a list of your expenses for the month

• True
• False

The total interest earned on $400 for two years on a CD at 15% (compounded annually) would be: 

• $129
• $860
• $60
• $460

Liabilities are debts or money owed to others

• True
• False