Personal Finance 5/12

______________ accounts are the best for paying regular bills and spending money

• checking

• savings

• a combination of savings and checking

• Credit cards

In investing, riskier investment usually come with _______________ growth over the long term

• high

• Moderate

• Low

• Steady

The agency in the US that collects and audits taxes is the __________

• Internal Revenue Service

• Federal Reserve

• Social Security Administration

• Department of Treasury

This type of employer provided retirement plan is only available at private companies (not education or government agencies)

• 401K

• 403(b)

• Pension Plan

The U.S. uses a ____________ tax system, so you will never lose money by making more money like with a bonus or overtime

• Progressive /Marginal

• Regressive

• Flat

• Exponential

The _________________ deduction is easier than itemizing deductions for most people

• standard

• simplified

• basic

• flat

Young people generally are advised to have _____________ investments for long term goals because they have time to recover as they age

• aggressive

• conservative

• moderate

__________ is a federal government program for retirement

• Social Security

• Medicare

• Medicaid

• Unemployment Insurance

A small piece of ownership in a company is called 

• stock

• dividend

• mutual fund

How many months worth of ALL expenses should you have in an emergency fund?

• 3-6

• 6-9

• One

• Two