Personal Finance Final

A cover letter gives a potential employer

• the reason you want a particular job.

• the highlights of your skills and abilities

• a summary of your qualifications

• a year by year outline of your experience

A credit bureau is required to follow reasonable procedures to make sure that

• creditors extend credit to retirees

• eligible borrowers on public assistance receive credit

• banks avoid the practice of redlining

• the information in a person's file is correct

A drawback of paying on credit is having

• additional fees

• more interest on savings

• CD players

• automobiles

A good budget has all the characteristics EXCEPT

• inaccessibility

• flexibility

• practicality

• careful planning

A higher interest rate is usually the trade-off for a

• minimum down payment

• secured loan

• short-term loan

• simple interest loan

A pension plan is

• plan for maternity leave

• plan for increases in pay

• retirement plan funded in part by employers

• free life insurance policy

A savings option many employers offer is

• paying interest on employees' savings

• sending employees' children through college

• writing a check for employees' savings accounts

• putting paycheck deductions in employees' retirement funds

An example of current liability is

• a car loan

• taxes

• a mortgage

• a student loan

An example of a liquid asset is

• savings account

• bond

• retirement account

• house

An example of a short term investment strategy is

• the buy-and-hold technique

• buying stock on margin

• dollar cost averaging

• a dividend reinvestment plan