Unit 4: Personal Finance

Front

Which type of bank account is best for everyday transactions?

Back

Checking Account

Front

Which payment option takes money out of your bank immediately?

Back

Debit Card

Front

Which of the following is TRUE regarding unexpected expenses? They should be planned for., They usually don't affect your ability to pay bills., They should not be included in your budget., They usually don’t affect your budget.

Back

They should be planned for.

Front

Which example shows an advantage of owning a car over leasing one?

Back

No restrictions on mileage or changes made to the car.

Front

Why is insurance an important financial investment?

Back

In cases of an accident, theft, or unpredictable events the insurance protects against financial loss.

Front

Which is a positive reason for using a credit card to finance purchases?

Back

Paying it off on time can help build your credit history.

Front

What does the W-2 form tell you?

Back

How much you've earned and how much taxes you've paid in the last year.

Front

Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when _____

Back

Choosing a credit card

Front

Which of the following is a possible tax or deduction that may show up on your paycheck?
Federal income tax, FICA, Contributions to retirement savings

Back

All of these

Front

What is the best way to avoid spending more than what is in your bank account?

Back

Keep your own records to compare with your financial institution's records.