Personal Finance

A ___ allows you to invest your money with a set interest rate for a pre-set period or time.

• checking

• money market

• savings

• certificate of deposit

Entertainment and dining out are important expenses in a budget and should not be cut.

• true

• false

Many banks will require a minimum deposit of __ to ___ to open an account

• $0, $100

• $25, $50

• $100, $1,000

• $50, $100

An advertisement saying another business has bad service can be an example of what type of deceptive advertising

• deceptive pricing

• deceptive comparison

• deceptive description

A budget is an estimate of income for a set period of time

• true

• false

An account that allows you easy access to your money and allows the use of checks and debit cards

• checking

• savings

• certificate of deposit

• money market

Early withdraw of the money in a CD can lead to substantial financial___

• penalty

• gain

Which influence on spending deals with the motivation to purchase a product?

• cultural

• psychological

• personal

• social

When budgeting, large expenses should be ___

• taken from one paycheck

• divided equally between all paychecks

• divided between two paychecks

• paid as they come up

What is the definition of a "need"?

• something you do not need to survive

• something that is important for you to have

• something you would like to have

• something that is necessary for you to survive