Financial Fitness Exam Review - 2024

What would you recommend as an example of using financing as a marketing tool?

• a. 90 days same as cash

• b. Placing a product close to the cash register

• c. Four – color advertisement in Sunday’s paper

• d. All of the above

In computing your FICO score, a key feature is:

• a. Debt

• b. Your annual gross income

• c. How much money you have in savings

• d. All of the above

Explain where the majority of jobs are found:

• a. Networking

• b. Online

• c. Classified

• d. Employment Service

Why do plan for retirement instead of relying on Social Security to take care of you?

• a. Monthly Social Security benefits are not going to be enough to live on comfortably

• b. You are not depending on someone else to take care of you

• c. The system may not be able to pay promised benefits in the future

• d. All of the above

A written cash flow plan is done every:

• a. 3 months

• b. Month

• c. 6 months

• d. Time your income changes

Interest paid on interest previously earned is:

• a. Emergency Fund

• b. Sinking Fund

• c. Compound Interest

• d. Interest Rate

Which of the following is not one of the steps to take if you are a victim of identity theft?

• a. Pay up to $50 to each account on which a charge was made

• b. Contact the fraud victim division of each credit bureau

• c. File a police report

• d. All of the above

The average person will have as many as _____ jobs in their lifetime.

• a. 5

• b. 10

• c. 15

• d. 20

Analyze the best definition for an IRA.

• a. A type of investment at a bank

• b. A type of investment at a bank or investment firm that has good tax benefits

• c. The tax treatment on virtually any type of investment

• d. Investment that uses tax deferred dollars with earned income

Placing gum next to a cash register in a store is an example of:

• a. Branding

• b. Shelf positioning

• c. Financing

• d. Color