Personal Finance Review

When would someone want to consider a single payment loan versus an installment payment.

• When the principal is relatively small

• when the principal is relatively large

• When the interest rate is high

• When the interest rate is low

This type of tax comes from the money you make from a job and does not fund specific programs like Social Security and Medicare.

• Sales tax

• Property tax

• Income tax

• Excise tax

This adrenaline junkie term describes any uncertainty with respect to investments that has the potential to negatively affect financial welfare.

• Return

• Volatility

• Liquidity

• Risk

What are the two parts of a loan?

• Interest & Dividend

• Principal & Dividend

• Principal & Interest

• Principal & Equity

The act of allocating resources, usually money, with the expectation of generating an income or profit.

• Budgeting

• Investment

• Spending

• Saving

This represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income.

• Opportunity Cost

• Budget Constraint

• Supply Curve

• Demand Curve

The U.S. has this type of tax system where high-income earners pay more of their income than those in lower brackets.

• Flat tax system

• Regressive tax system

• Proportional tax system

• Progressive tax system

This aquatic term is used to describe how easily an investment can be sold/purchased for cash.

• Flotation

• Solvency

• Liquidity

• Buoyancy

__________ describes the maximum amount a person is approved to borrow, while _______ is a measure of a person's creditworthiness or their ability to fulfil financial commitments

• Credit report; Credit Score

• Credit score; Credit report

• Credit history; Credit limit

• Credit limit; Credit Score

This tax form is used to communicate the exemptions you want which determines how much money is taken from your paycheck each month.

• W-2

• W-4

• 1040

• 1099