Personal Finance

Which of the following is an example of a payroll deduction?

• Net pay

• Overtime hours

• Health insurance

• Pay rate

Lyla is applying for a loan to buy a home for the first time. Which of the following should she be certain to do when applying for the loan?

• Inaccurately report her debts

• sign blank documents

• read all paperwork carefully

• overstate her assets

Developing a personal budget is an effective way to:

• calculate assets

• increase debt

• pay bills

• manage money

If you are 17 right now, what is the best age to begin investing?

• 27

• 32

• 17

• 25

Calculate Michael's gross earnings for the pay period if his net pay is $796.84 his total tax obligation is $157.27, his medical insurance is $45, and his union dues are $15.

• 1014.11

• 579.57

• 984.11

• 894.11

Which of the following is a variable expense that Jake must consider when developing his personal budget:

• Anticipated salary increases

• Unexpected car repairs

• fixed car-loan payments

• homeowner insurance premiums

Saving the money you might ordinarily spend each day on a cup of coffee and a donut:

• is not a practical step in reaching your financial goals

• will not result in significant savings

• is the sacrifice you must make for the future financial security

• can help you achieve larger financial goals

The key factors involved in compounding growth are the amount of money of money you invest, how much your investment grows each year, and

• your mutual fund manager's education

• how you earn money you invest

• your educational background and career

• how long your money is invested

To obtain reliable information about securities, a potential investor might speak with a

• loan officer

• colleague

• stockbroker

• trusted friend

On January 3, Risa mailed her credit-card payment which was due on January 5. The credit card issuer received the payment on January 7. What most likely appeared on Anna's credit card statement the following month?

• processing charge

• over-limit fee

• late fee

• application charge