WorksheetsPersonal Finance Mid Quarter
Total questions: 34
Worksheet time: 17mins
Name
Class
Date
1.
Generic products are usually more expensive that brand name products.
a)
True
b)
False
2.
Comparison shopping helps consumers make informed decisions.
a)
True
b)
False
3.
Disposable income is income that people spend on things they don’t really need.
a)
True
b)
False
4.
People diversify their investments by investing in several different kinds of investments.
a)
True
b)
False
5.
Some consumers prefer generic products over brand-name products because
a)
They are less expensive
b)
Their quality is better
c)
They are more widely available
d)
They come with warranties
6.
A financial intuition that is owned and operated by members to provide savings accounts and low interest loans is a
a)
Savings and loan
b)
Credit union
c)
Commercial bank
d)
Savings bank
7.
Loan guaranteed only by a promise to repay it
a)
Finance charge
b)
Unsecured loan
c)
Collateral
d)
Interest
8.
Amount of money a borrower must pay for the usage of someone else’s money
a)
Finance charge
b)
Unsecured loan
c)
Collateral
d)
Interest
9.
Cost of credit expressed in dollars and cents
a)
Finance charge
b)
Unsecured loan
c)
Collateral
d)
Interest
10.
Something of value used to secure a loan
a)
Finance charge
b)
Unsecured loan
c)
Collateral
d)
Interest
11.
Cost of credit expressed as a yearly percentage
a)
Mortgage
b)
Principal
c)
Annual percentage rate (APR)
d)
Finance company
12.
Amount of money originally borrowed
a)
Mortgage
b)
Principal
c)
Annual percentage rate (APR)
d)
Finance company
13.
A written form of payment connected with a bank
a)
Cash
b)
Debit Card
c)
Check
d)
Credit Card
14.
A tax on real estate or personal property
a)
Sales Tax
b)
Property Tax
c)
Income Tax
d)
Payroll Tax
15.
Money earned through work, investments, business, and other sources
a)
Income
b)
Debit Card
c)
Credit Card
d)
Check
16.
A plan how money will be spent
a)
Balanced Budget
b)
Variable Expense
c)
Net income
d)
Budget
17.
A small plastic card issued by a bank to an account holder which can be used for electronic transactions. When a trasaction is made, the money is deducted from the cardholder's bank account.
a)
Debit Card
b)
Credit Card
c)
Check
d)
Sales Tax
18.
Typically changes from month to month or week to week depending on the need
a)
Fixed Expenses
b)
Debit Card
c)
Variable Expense
d)
Income Tax
19.
Income after taxes are deducted
a)
Net Income
b)
Gross Income
c)
Variable Expense
d)
Budget
20.
Made with currency
a)
Debit Card
b)
Credit Card
c)
Income
d)
Cash
21.
A tax on goods and services
a)
Property Tax
b)
Sales Tax
c)
Income Tax
d)
Payroll tax
22.
A small plastic card issued by a financial institution which can be used to make purchases. The amount charged is borrowed by the cardholder.
a)
Credit Card
b)
Debit Card
c)
Net card
d)
Check
23.
A tax on one's earnings
a)
Property Tax
b)
Income Tax
c)
Payroll Tax
d)
Budget
24.
Short-term goals cover a time period of one to two years.
a)
True
b)
False
25.
The easiest form of business to start and end is a(n) ________.
a)
partnership
b)
proprietorship
c)
corporation
d)
franchise
26.
Starbuck's __________ is "To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time”.
a)
goal
b)
mission statement
c)
statement of purpose
d)
corporate bylaws
27.
If employees need to be creative, which management style will likely be used?
a)
strategic
b)
tactical
28.
North Korea's ruler decides what will be produced, how much will be produced and by whom. This is known as a ______ economy.
a)
command
b)
traditional
c)
market
d)
mixed
29.
All of the following are counted in GDP except
a)
government spending
b)
consumer spending
c)
imports
d)
consumer spending
30.
When thinking of a capital resource, all of the following are examples EXCEPT:
a)
money
b)
tools
c)
equipment
d)
soil
31.
Apple is organized as which type of business structure?
a)
proprietorship
b)
partnership
c)
corporation
d)
LLC
32.
Mortgage rates reference to interest rates for a __________.
a)
house
b)
car
c)
boat
d)
all of the above
33.
A transportation company is known as which type of business?
a)
retailer
b)
wholesaler
c)
service business
d)
intermediary
34.
An advantage of an LLC (Limited Liability Company) is that the owners personal belongings are not at risk.
a)
true
b)
false
100 %
