Semester 1 Final Review

What is a financial instrument that typically offers a fixed interest rate and a specified maturity date?

• Credit Card

• Debit Card

• Certificate of Deposit

• Emergency Fund

Which type of card allows you to make purchases by borrowing money, with the debt accumulating and requiring repayment?

• Credit Card

• Debit Card

• FDIC

• Inflation

What is a card that is linked to your bank account and allows you to make purchases using your own funds?

• Certificate of Deposit

• Credit Card

• Debit Card

• Principal

What is a fund set aside for unexpected expenses or financial emergencies?

• Emergency Fund

• Interest

• Principal

• FDIC

What does FDIC stand for in the context of banking?

• Federal Deposit Insurance Corporation

• Credit Limit

• Inflation

• Interest Rate

What is the increase in the general price level of goods and services in an economy over time?

• Interest

• Inflation

• Emergency Fund

• Interest Rate

In a loan, what is the initial amount of money borrowed or the amount of the loan that remains unpaid?

• Principal

• Credit Card

• Collateral

• Credit Limit

What is the fee charged by a lender for the use of borrowed money, usually a percentage of the loan amount?

• Credit Card Agreement

• Interest

• Emergency Fund

• Certificate of Deposit

What is the percentage at which interest is charged on a loan or earned on an investment?

• Interest Rate

• Authorized User

• Balance Transfer

• Collateral

Who is an individual allowed to use someone else's credit card but is not legally responsible for the debt?

• Credit Card Agreement

• Credit Limit

• Authorized User

• Interest Rate