W.I.S.E. Review #2

What is the Rule of 72?

• To solve how many years it would take to double ones money by subtracting the interest

• To solve how many years it would take to triples ones money by multiplying the interest

• To solve how many years it would take to double ones money by adding the interest

• To solve how many years it would take to double ones money by dividing the interest

What is NOT an example of a source of income?

• Lottery

• Inheritance

• Worker's Compensation

• Interest on investments

What are the two types of exemptions?

• Dependency & Extravagant

• Personal & Inpersonal

• Personal & Dependency

• Dependency & Private

What is Liquidity?

• The ability to get/convert money slowly

• The ability to get/convert money fast.

• A type of bond where there is no penalty.

• The type of bond where you must have it long-term.

What is an example of Liquidity?

• Savings Account

• Bond

• Stocks

• Cash

What does PYF mean?

• Pay yourself first

• Pay yourself finally

• Pay your family

• Pay your friends

What is another example of liquidity?

• Stocks

• Life Insurance

• Real Estate

• Checking Account

What is a Money Market Mutual Fund?

• A Low Liquid-Low Risk short term security

• A High Liquid-Low Risk short term security

• A Low Liquid-High Risk short term security

• A High Liquid-High Risk short term security

Do gift cards have an expiration date?

• Yes

• No

What is Discretionary income?

• Income to have fun with

• Income to pay your bills

• Income to have to pay others with