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SV Personal Finance Chapter 2

Total questions: 27

Worksheet time: 17mins

Name
Class
Date
1.

Interest paid on interest previously earned:

a)

Compound interest

b)

Interest

c)

Compound verb

d)

Compound investment

2.

Percentage paid to a lender for the use of borrowed money, or the percentage earned on invested principal:

a)

Savings rate

b)

Interest rate

c)

Compound interest

d)

TV Ratings

3.
money in the form of check, debit card, or other direct payment given to a person needing assistance
a)
property taxes
b)
in-cash payments 
c)
medicare tax
d)
gross pay 
4.
Money and benefits received from local,state, or federal governments.
a)
unearned income
b)
use taxes 
c)
Transfer payments
d)
sales tax
5.
Taxes added to the purchase price of goods and services
a)
sales tax
b)
dividends
c)
excise taxes
d)
use taxes 
6.
a portion of a corporation's profits distributed to stockholders
a)
dividends
b)
public goods
c)
royalties
d)
entitlement programs
7.
government-provided goods and services paid for by taxes
a)
gross pay
b)
royalties
c)
public goods
d)
stock dividends
8.
taxes charged on the purchase of specific goods and services
a)
property tax
b)
income
c)
excise taxes
d)
interest
9.
money shared with stockholders when a corporation makes profits
a)
stock dividend
b)
cash dividend
c)
in-cash payments
d)
luxury tax
10.
payments for the use of copyrighted material, such as books or songs
a)
royalties
b)
luxury tax
c)
transfer payments
d)
salary
11.
a government program that guarantees certain benefits to a particular group or segment of the population, such as Social Security or Medicare
a)
pension plans
b)
inheritance tax
c)
insurance 
d)
entitlement programs
12.
another type of use tax that helps to keep roads and highways repaired
a)
gasoline tax
b)
commission 
c)
medicare tax
d)
social security tax
13.
Levied against the estate of a person who has died or the person who inherits the deceased's money or property
a)
gift tax
b)
estate tax
c)
market value
d)
property taxes
14.
another word for estate tax
a)
sales tax
b)
inheritance tax 
c)
transfer payments
d)
use taxes
15.
Money set aside and left alone for a "rainy day."
a)
emergency fund
b)
savings account
16.

a plastic card used to buy goods or services using debt

a)

Credit Score

b)

Credit Card

c)

Debt Collector

d)

Grant

17.

A program that allows students to work part-time while in college.

a)

Student Loan

b)

Scholarship

c)

Lender

d)

Work Study

18.

One of the biggest mistakes people make is

a)

going to a regular bank

b)

going into debt

c)

going to the grocery store too often

d)

going to a community college rather than a college/university

19.

Choose a school that you can________________.

a)

afford

b)

have fun at

c)

get the best friends

d)

closest to home

20.

Financial aid that does not need to be repaid; awarded on the basis of academics, athletics, achievement, or other criteria

a)

Student Loan

b)

Grant

c)

Scholarship

d)

Work Study

21.

An account that generates interest income on the available balance in the account

a)

Interest Bearing Account

b)

Compound Interest

c)

Simple Interest

d)

Inflation

22.

Calculate the compound interest for this problem. $1,000 at 6% interest for 3 Years.

a)

$969.39

b)

$1,180.00

c)

$1,191.02

d)

$1,881.60

23.
Which form do workers complete so an employer can verify that they are eligible for employment?
a)
W-2
b)
W-4
c)
I-9
d)
None of the Above
24.
A simple federal tax return form designed for use by single and joint filers with no dependents is 
a)
Form 1040
b)
Form 1040EZ
c)
W-4
d)
W-2
25.
A percentage of a sale paid to the salesperson is called a
a)
tip 
b)
salary
c)
wage
d)
commission
26.
A benefit often received by full-time workers is
a)
Health Insurance
b)
Sick Leave Pay
c)
Vacation Pay
d)
All of the Above
27.
Which of the items listed is a required deduction from a worker’s paycheck?
a)
Health Insurance Premiums
b)
Federal Income Tax
c)
Savings Plans
d)
Group Life Insurance Premiums