Personal Finance Pt.1

What is currency?

• Currency is a representation of a physical asset.

• Currency is a medium of exchange for goods and services.
• Currency is a made up number that has value because the government says so.

• Currency is pieces of paper

What is credit?

• Borrowing money with a promise to pay it back.

• Credit is the ability to save money for future purchases
• Credit is the ability to lend money to others
• Credit is the ability to access goods or services without paying for them

What is a stock?

• Small fraction of a company that can be purchased.

• Small fraction of multiple companies that can be purchased.

• Loaning money to a company and being paid back interest.

• Investment that allows banks to use your money to invest your money.

What is a mutual fund?

• Small fraction of a company that can be purchased.

• Loaning money to a company and being paid back interest.

• Small fraction of multiple companies that can be purchased.

• Investment that allows banks to use your money to invest your money.

What is a fixed income investment?

• Loaning money to a company and being paid back interest.

• Small fraction of a company that can be purchased.

• Investment that allows banks to use your money to invest your money.

• Small fraction of multiple companies that can be purchased.

What is inflation?

• The rise in prices because the Government raises interest rates.

• The rise in prices because of tariffs.

• The rise in prices because of taxation.

• The rise in prices as more money enters the economy.

How long should a cover letter be?

• 3 paragraphs

• 4 paragraphs

• 2 paragraphs

• 1 big paragraph

Which of the following is not a section on a resume

• Heading

• Education

• Experience

• Biography

Select the important information that can be found on a W2 (Select 2)

• How much money you made.

• How much money was taken out for taxes.

• How much money you owe.

• How much money is being taken out of each paycheck

What is the purpose of a W4?

• To get a huge refund check

• To pay as little taxes as possible

• To take out enough money from your paycheck to cover your taxes.

• To pay your taxes