QUIZ 4

Money that comes in or is earned is called ______________.

• Deductions

• Expenses

• Income

• Budget

Using this common tactic, scammers send an email that appears to come from a financial institution, such as a bank and asks you to click on a link to update your account information.

• Phone Scam

• Identity theft

• Phishing

• Social Media Scams

Depending on the amount of information a scammer is able to obtain, identify theft may extend beyond unauthorized charges on a debit or credit card.

• Social Media Scam

• Identity theft

• Phone Scam

• Stolen Credit Card Number

When you owe money it is called: 

• Expenses

• Debt

• Assets

• Liabilities

What is the definition of balanced budget?

• Goals that take more than a year to accomplsh.

• Planning or budgeting process where total revenues are equal to or greater than total expenses. 

• Income remaining after deduction of taxes, other mandatory changes, and expenditure on necessary items.

• The object of a person's ambtion or effort.

What is the definition of needs?

• Income remaining after deduction of taxes and other mandatory changes available to be spent or saved as ones wishes.

• The object of a person's ambition or effort.

• Something that is required because it is essential or very important.

• A phrase referring to the idea that investors should routinely and automaically put money into savings before spending on anything else.

Means confidence with the financial situation, worriless paying the bills because of available funds, debt-free, money savings for future goals and enough emergency funds.

• Financial literate

• Eliminate and avoid debt

• Financial Scam

• Financial Stability

The very important part of life , especially in financial planning before investing the money consider stating personal financial goals.

• Setting goal

• Time horizon

• Financial plan

• Risk tolerance

Type of financial scam for students that offer fake degrees and diplomas in exchange for a fee.

• Fake Scholarships

• Diploma Mills

• Online Book Scams

• Credit Card Scams

Most policyholders belong to this category, as they are deemed to be healthy and have a normal life expectancy.

• Preferred

• Substandard

• Standard

• Smokers