Personal Finance Final Review

What does CD stand for when talking about investments?

• Calculated Dividend
• Certificate of Deposit
• Central Dollar
• Current Deposit

A mutual fund allows investments to be ___________.

• Secured
• Guaranteed
• Diversified
• Minimal

The amount borrowed is known as the ______.

• credit
• interest
• capital
• principal

What is the first step in budgeting?

• Record what you spend
• Estimate your income
• Set financial goals
• Review and evaluate monthly

Why budget?

• prevent debt
• plan for future
• save money
• all of these

Credit union and commercial bank deposits of up to $250,000 are insured by what government backed program?

• FED
• NCU
• FDIC
• NAACP

Cost of credit expressed as a yearly percentage 

• Mortgage
• Principal
• Annual percentage rate (APR)
• Finance company

Amount of money originally borrowed

• Mortgage
• Principal 
• Annual percentage rate (APR)
• Finance company

A savings account with a specific time period

• Savings Account
• Checking Account
• Certificate of Deposit (CD)
• Bond

Which of the following is an example of a fixed expense?

• Rent
• Groceries
• Gas
• Clothes