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Personal Finance Mid-Term Assessment Study Guide

Authored by Julie Hart

12th Grade

Used 21+ times

Personal Finance Mid-Term Assessment Study Guide
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44 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Rule of 72?

Way to estimate how long to double your investment

Compound Interest

Investment Strategy

Way to increase your savings 72 times

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a check that you've written clears the bank:

Your account is credited and the balance increases

Your account is debited and the balance increases

Your account is credited and the balance decreases

Your account is debited and the balance decreases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an alert that you should enable on your bank account?

Unusual Activity

Low Balance

Movile Deposit

All of the Above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the FDIC?

Federal Deposit Interest Company

First Deposit Insurance Corporation

Federal Deposit Insurance Corporation

First Depository Interest Company

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the amount of FDIC protection per bank account?

$150,000

$250,000

$500,000

$1,000,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a checking and savings account?

Checking is transactional; savings helps you grow your money over time

Both are for everyday money transactions

Savings is transactional; checking helps you grow your money over time

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is interest paid on interest previously earned?

Simple Interest

Investment Interest

Compound Interest

Savings Interest

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