Personal Finance Review

What are your total earnings before taxes and deductions called?

• Gross Pay

• Net Pay

• Sources of Income

• Pre-Tax Savings

What is the cost to borrow money called?

• Credit

• Interest

• Capacity

• Collateral

What is a number that predicts how likely you are to pay back a loan?

• Credit Limit

• Credit Report

• Credit Score

• Credit Card

What is an individual’s ability to repay a loan known as?

• Capacity

• Character

• Collateral/Capital

• Credit

What is an individual’s reliability to repay a loan known as?

• Capacity

• Character

• Collateral/Capital

• Credit

This occurs when an individual's assets are repossessed in the attempt to repay a loan.

• Capacity

• Character

• Collateral/Capital

• Credit

This is your total income after taxes and deductions are taken out.

• Gross Pay

• Net Pay

• Pre-Tax Savings

• Sources of Income

How can having a good credit score benefit you?

• You can borrow any amount of money you want

• You are exempt from paying taxes

• You qualify for lower interest rates on loans

• You receive cash back on all purchases

What is borrowing money and a commitment to pay it back at a later date?

• Interest

• Credit

• Credit Limit

• Credit Score

The various options individuals or businesses utilize to earn money (wages, interest, rent).

• Gross Pay

• Net Pay

• Pre-Tax Savings

• Sources of Income