W32 BR Personal Financial Vocabulary Quiz

What is a 529 account?

• A checking account

• A type of credit card

• An educational savings account managed by the state

• A retirement savings plan

What is an annuity?

• A type of loan

• A financial product that can have deductible and non-deductible contributions

• A scholarship

• A savings account

What is an associate's degree?

• A degree earned at a community college for a specific occupation

• A degree earned after a bachelor's degree

• A degree earned at a four-year university

• A degree that requires a doctoral thesis

What does 'available balance' mean?

• The amount available in an account to spend

• The amount of money you owe on a loan

• The total amount of money in a savings account

• The amount of money you earn annually

What is a bachelor's degree?

• A degree usually earned from a four-year college or university

• A degree that is only available online

• A degree earned after a master's degree

• A degree that requires vocational training

What is a check register used for?

• To apply for student loans

• To manage stock investments

• To track deposits, withdrawals, and current available balance

• To calculate interest on savings

What is a direct subsidized federal student loan?

• A loan where the borrower pays interest from the start

• A loan issued by a private bank

• A loan that does not need to be repaid

• A loan where the U.S. Government pays the interest while the student is in school

What is a doctoral degree?

• A degree that requires only two years of study

• The most advanced postgraduate degree

• A degree earned at a community college

• A degree that is equivalent to a high school diploma

What is a grant?

• Money that must be repaid with interest

• A type of savings account

• A loan for purchasing a car

• Money awarded to students based on need with no obligation to repay

What is a master's degree?

• A degree that requires no coursework

• An advanced degree obtained after a bachelor's degree

• A degree that is equivalent to a high school diploma

• A degree earned after a doctoral degree