Final Review Personal Finance

You are an education major, and part of your financial aid money is the money you earn as a tutor. This type of financial aid would be called...

• Scholarship
• Loan
• Grant
• Work Study

How can you improve your credit score?

• Open a large amount of credit cards in a short time
• Monitor your credit
• Keep your utilization low (carry little debt)
• A & B
• B & C

To ensure that your credit report is accurate, you should:

• Request your free credit report from each of the main credit bureaus
• Review your personal information and make sure that it's up to date
• Report any unauthorized activity to the issuing credit bureau
• All of the above

A credit score of 300 is considered

• Excellent
• Good
• Fair
• Poor

Interest is the COST of using

• Credit
• Debit
• Money
• ATMs

I am received in January. There is one of me for every job you work. By reading me you can tell how much you earned and how much you paid in taxes.

• W-4
• 1040
• W-2
• 1099

When people refer to "Tax Day" they mean...

• April 15, the typical deadline to file your taxes
• January 1, the first day of the calendar year
• Whatever day your tax refund comes in the mail
• December 31, the last day to earn income and have it count toward that tax year

Which of the following would NOT be a typical tax deducted from your pay check?

• State Income Tax
• Federal Income Tax
• Social Security
• Roth IRA

An employee's earnings before deductions is called

• Net Income
• Gross Income
• Pay Roll
• Minimum Wage

Rolando earns $395. His net pay is $356. What taxes were used to get his net pay?

• Income/Payroll Taxes
• Sales Tax
• Gas Tax