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Financial Algebra Final Review

Quiz
•
Mathematics
•
12th Grade
•
Medium
Julie Pinto
Used 2+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Annual Principal Rate
Annual Profit Rate
Annual Payment Rate
Annual Percentage Rate
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the role of a Credit Reporting Agency?
To offer financial advice
To collect and maintain credit information
To manage bank accounts
To provide loans to individuals
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What does 'Insufficient Funds' mean?
A surplus of funds in an account
A type of loan
An account lacking enough money to cover a transaction
Having enough money to cover a transaction
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is Wage Garnishment?
A legal procedure where a portion of earnings is withheld for debt repayment
A tax deduction
A bonus payment from an employer
A type of savings account
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the Principal in financial terms?
The total amount of a loan
The original sum of money borrowed or invested
The monthly payment on a loan
The interest earned on an investment
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is Direct Deposit?
A cash deposit at a bank
Electronic transfer of funds directly into a bank account
A check payment
A manual transfer of funds
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is Compound Interest?
Interest on the initial principal only
A variable interest rate
Interest on both the initial principal and the accumulated interest
A fixed interest rate
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