Personal Finance Review

Front

Who contributes to 401K’s?

Back

employees and employers

Front

Risk can be defined as

Back

the potential for loss

Front

What happens if you withdraw money from your retirement account early?

Back

The amount withdrawn will be taxed at your current income tax rate & you may pay a penalty.

Front

What is the best type of investment for someone nearing retirement? Options: stocks, mutual funds, bonds, real estate

Back

bonds

Front

Who contributes to IRA’s?

Back

individuals only

Front

Although banks typically pay low interest rates, you can earn more money from a bank if you put money into

Back

a CD (certificate of deposit)

Front

Which of these investments carries the most risk?
Options: savings account, Bonds, stocks, Certificates of Deposit (CDs)

Back

stocks

Front

A lender's requirement to guarantee repayment of a loan is referred to as

Back

collateral

Front

How many credit cards should I have?

Back

0-2

Front

When a bank evaluates you to receive credit, you must be considered

Back

creditworthy and a low risk