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WorksheetsEconomics Total Recall (Personal Finance)
Total questions: 17
Worksheet time: 14mins
Name
Class
Date
1.
Which one of the following terms is an organized spending plan for one's money?
SSEPF1b
SSEPF1b
a)
Cost System Analysis
b)
Bankruptcy
c)
Budget
d)
Profit and Loss Statement
2.
Why do women need to save more money than men for retirement?
SSEPF2d
SSEPF2d
a)
They tend to live longer on average.
b)
Women still earn less than men in some jobs.
c)
Women take time off from their jobs to have/raise children.
d)
All of the above.
3.
Which one of the following terms is money that is paid regularly at a particular rate for the use of borrowed money?
SSEPFb
SSEPFb
a)
Deposit
b)
Withdrawal
c)
Interest
d)
Net Worth
4.
Which federal agency protects deposits in commercial banks ?
SSEPF2
SSEPF2
a)
FDIC
b)
IRS
c)
DEA
d)
EPA
5.
A system to make financial loss more affordable by transferring it from individuals to large groups is called :
SSEPF5
SSEPF5
a)
Investing
b)
Insurance
c)
Trading
d)
Saving
6.
A person from an insurance company sent to determine the value of property that was damaged or destroyed is called an :
SSEPF5
SSEPF5
a)
Agent
b)
Adjuster
c)
Astronomer
d)
Alien
7.
Financial institution licensed to receive deposits and make loans.
SSEPF2a
SSEPF2a
a)
bank
b)
credit union
c)
savings house
d)
credit house
8.
A cost that varies with the level of output.
SSEPF4c
SSEPF4c
a)
fixed costs
b)
profit
c)
variable costs
d)
savings
9.
Expending money with the expectation of achieving a profit.
a)
profiting
b)
budgeting
c)
debiting
d)
investing
10.
Institution that accepts savings at interest and lends money to savers chiefly for home mortgages, but may also have checking and other accounts.
SSEPF2a
SSEPF2a
a)
commercial bank
b)
savings and loan
c)
credit union
11.
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
a)
profit
b)
deposit
c)
savings
d)
credits
12.
Why do members of a community have to pay taxes?
SSEPF3c
SSEPF3c
a)
To pay for services provided by the government
b)
So that people do not have to pay for their family's groceries
c)
To pay for everything people want
d)
So that people can buy a new car
13.
Which of these would increase your credit score?
SSEPF4a
SSEPF4a
a)
pay minimum payment on your credit card balance each month
b)
check your credit score as frequently as possible
c)
earn more income
d)
get as many loans as you can
14.
Why might your parents not want to co-sign your student loan?
SSEPF1a
SSEPF1a
a)
they become liable for the loan
b)
it could increase the loan's total cost
c)
it won't help your credit score as much
d)
it will hurt their credit score
15.
The number that reflects your ability to get a loan and interest rates is your
SSEPF4a
SSEPF4a
a)
credit score
b)
credit karma
c)
bank rank
d)
LTF (Loan Trust Factor)
16.
What is the best way to pay for college?
SSEPF1a
SSEPF1a
a)
scholarships, grants, financial aid
b)
student loans
c)
saving money
d)
going into the military
17.
The easiest way to protect yourself from credit card debt is to
SSEPF4
SSEPF4
a)
not use credit cards
b)
use credit cards only for small purchases
c)
get cards with 0% interest for a year
d)
get credit cards with cash back rewards
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