W!SE REVIEW QUIZIZZ#1

Over the long term, the stock market has a positive return

• true

• false

Is there a guarantee for stocks?

• Yes

• No

Is a CD insured?

• yes

• no

When do taxes have to be filed?

• April 15

• October 15

You must complete a Wage Withholding Order form when you work FOR a new company.

• W2

• WD40

• W4

Gross pay -Deductions (taxes, medical, FICA)=

• gross income

• discretionary income

• net income

Fixed expenses don't change. Identify the fixed expenses:

• electricity and rent

• car and electricity

• car, mortgage, and rent

VARIABLE expenses DO CHANGE. Identify the variable expenses:

• car, gas, and insurance

• groceries, electric bill, and gas bill

• groceries and car bill

Opportunity cost is the second best option. In other words, it is what you have to _______.

• give up to get your third choice

• give up to get your first choice

Pay Yourself First

• 10% of nothing

• 10% of gross income

• 10% of net income