Finance Challenge Bowl Practice Set-1

An account attached to a debit card

• Checking Account

• Savings Account

• CD Account

• LR Account

A bank account that earns interest and has no card attached.

• Checking Account

• Savings Account

• CD Account

• LR Account

A card used to make purchase on credit. “Buy now, pay later.”

• Checking Account

• Savings Account

• Credit Card

• LR Account

The amount of money paid either monthly or biweekly

• Income

• Salary

• Hourly Pay

• Deposit

A set amount of income paid each month

• Income

• Salary

• Hourly Pay

• Deposit

A set amount of income determined on how many hours an employee works

• Income

• Salary

• Hourly Pay

• Deposit

A number that indicates how well a person repays loans or other bills.

• Career

• Credit Score

• Budget

• Interest Rate

An additional amount charged to a loan expressed in a percent

• Career

• Credit Score

• Budget

• Interest Rate

In order to best control spending you should keep track of monthly expenses by preparing a.....?

• Budget

• Deficit

• Debt Plan

• Roth IRA

What is the relationship between risk and return when it comes to investments?

• Lower Risk = Higher Reward

• Higher Risk = Lower Reward

• Lower Risk = Lower Reward