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WorksheetsEcon Ch 6 Consumers, Savers, Investors
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
What is the difference between gross and net pay?
a)
Net pay describes your pay after deductions, gross pay is before.
b)
Gross and net pay are the same.
c)
Gross pay describes your pay after deductions, net pay is before.
d)
I don't know because I don't have a job.
2.
A written financial plan can also be called _____.
a)
Personal Finance
b)
Budget
c)
Envelope System
d)
reconcile
3.
Amount you pay monthly, quarterly, semiannually or annually to purchase different types of insurance
a)
Premium
b)
Deductible
c)
Out-Of-Pocket Expenses
d)
Liability
4.
Amount you must pay before you begin receiving any benefits from your insurance company.
a)
Out of Pocket Expense
b)
Premium
c)
Liability
d)
Deductible
5.
The possibility of a loss when investing is called
a)
Risk
b)
Liability
c)
Insurance
d)
Hazard
6.
Which coverage pays for injuries and damages to others only?
a)
Comprehensive
b)
Collision
c)
Personal Injury Protection
d)
Liability
7.
Insurance coverage to protect you from damage to your car other than by collision or vehicle overturning
a)
Floater
b)
Collision
c)
Comprehensive
d)
Liability
8.
Which type of insurance protects against loss due to death?
a)
Life
b)
Health
c)
Disability
d)
Long-Term Care
9.
When income and expenses are equal
a)
Budget
b)
Income
c)
Balanced Budget
d)
Check
10.
Which is a nonprofit financial depository?
a)
bank
b)
casino
c)
credit union
d)
commerical banks
11.
The amount of one's money covered per account by the FDIC and the NCUA is?
a)
1000,000
b)
250,000
c)
100
d)
2500
12.
Which one is NOT a savings tool?
a)
Money Market Account
b)
savings account
c)
Certificate of Deposit
d)
checking account
13.
What is the difference between a credit card and a debit card?
a)
A debit card is subtracted from your checking account. A credit card is not attached to your checking account.
b)
A credit card is subtracted from your checking account. A debit card has a credit limit.
14.
The most risky of all investments but has the highest possible rate of return is
a)
Corporate bonds
b)
Government bonds
c)
Common stocks in one company
d)
Mutual Funds
15.
What is the best purpose of a savings account?
a)
6 month emergency fund
b)
real estate investment
c)
college fund
d)
gifts
16.
The two parts of a budget are
a)
Income and dividends
b)
income and profit
c)
expenses and costs
d)
income and expenses
17.
Expenses people can eliminate are
a)
costs
b)
needs
c)
wants
d)
flexible
18.
The best investment that balances risk with potential return is
a)
a CD
b)
mutual fund
c)
individual company stock
d)
savings account
19.
Which is not a major type of credit?
a)
Mortgage
b)
Car loan
c)
Charge card
d)
Debit card
20.
When using a credit card, a person should
a)
only pay the minimum monthly balance
b)
pay each monthly balance in full to avoid interest charges
c)
take a cash advance to avoid fees
d)
none of the above
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