Personal Finance Review

Which of the following is an investment that will in most instances increase in value?

• car

• Vacation

• Clothing

• real estate

Allows a person to identify who gets their assets after they die

• W2 Form

• will

• Tax Return

• Credit Report

Your parent's tax return would be required when filing

• FAFSA

• W-2 Form

• 1040 Form

• SEC Application

Which of the following is an example of a variable expense

• mortgage payment

• car payment

• entertainment

• rent

Building equity is an advantage of

• purchasing a home

• buying a car

• Renting a home

• Taking out a loan

Amount paid to an employee before deductions

• net wages

• gross deductions

• net deductions

• gross wages

Primary tax form used to determine if additional taxes are owed by the taxpayer or if a refund is owed to the taxpayer

• Form 1099

• Form 1040

• Form W-2

• Form W-4

Which of the following should be considered when choosing where to open a savings account?

• safety

• rate of return (interest)

• ease of access to money

• all are correct

Paying the entire balance when due is a way to avoid the high interest charged on

• credit cards

• Bank loans

• Mortgages

• Investment accounts

A penalty for withdrawing money before maturity date is a disadvantage of a

• Savings account

• checking account

• certificate of deposit (CD)

• money market account