TEST - Finance Vocabulary Assessment (Part 1)

Match the following:

• Budget

• A business who specializes in obtaining payments from debtors who have defaulted on their loans.

  
  

• Assets

• Qualified investment professional who assists individuals and corporations in meeting their long-term financial goals by setting a program to achieve these goals; they are specialized in areas such as retirement.

  
  

• Certified Financial Planner

• A spending plan; A record of projected and actual income and expenses over a period of time.

  
  

• Annual Fee

• A yearly fee for having a credit card; most credit card companies no longer have this fee.

  
  

• Collection Agency

• What a person owns- cash, stocks, bonds, real estate, personal possessions, etc.

  
  

A state or federally chartered for-profit financial institution who offers commercial and consumer loans and other financial services are called _______.

An Annual (a)   Rate is a percentage cost of ​ (b)   on an ​ (c)   basis; must be disclosed by law.

• debt, monthly
• loan, weekly
• interest, quarterly
• Percentage
• credit
• annual

Tags

CCSS.HSA.SSE.A.1

The state of being legally released from the obligation to repay all or some debt in exchange for the forced loss of certain assets; Remains on a consumer’s credit record for 10 years.

• Annual Percentage Rate

• Bankruptcy

• Asset

• Bond

TRUE OR FALSE: Appreciation: A drop in value or price.

• True

• False

A certificate representing the purchaser’s agreement to lend a business or government money on the promise the debt will be paid- with interest- at a specific time is called...

• bond

• asset

• checking account

• certificate of deposit

An ATM is (a)   terminal used to conduct business with a financial institution or purchase items like postage stamps or transportation tickets; AKA- ​ (b)   machine.

• Computer
• Vending machine
• ATM
• Credit card reader
• cash

A Checking Account is a bank account that allows you to transfer money you’ve deposited to a payee by writing checks or using a debit card to make purchases.

• True

• False

A bank deposit committing you to leave the principal (initial amount) and accumulating earnings for a period of time to earn a fixed rate of interest.

• Stock

• Asset

• Bond

• Certificate of Deposit (CD)

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2