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WorksheetsPersonal Finance
Total questions: 20
Worksheet time: 7mins
Which of the following is an example of a payroll deduction?
Net pay
Overtime hours
Health insurance
Pay rate
Lyla is applying for a loan to buy a home for the first time. Which of the following should she be certain to do when applying for the loan?
Inaccurately report her debts
sign blank documents
read all paperwork carefully
overstate her assets
Developing a personal budget is an effective way to:
calculate assets
increase debt
pay bills
manage money
If you are 17 right now, what is the best age to begin investing?
27
32
17
25
Calculate Michael's gross earnings for the pay period if his net pay is $796.84 his total tax obligation is $157.27, his medical insurance is $45, and his union dues are $15.
1014.11
579.57
984.11
894.11
Which of the following is a variable expense that Jake must consider when developing his personal budget:
Anticipated salary increases
Unexpected car repairs
fixed car-loan payments
homeowner insurance premiums
Saving the money you might ordinarily spend each day on a cup of coffee and a donut:
is not a practical step in reaching your financial goals
will not result in significant savings
is the sacrifice you must make for the future financial security
can help you achieve larger financial goals
The key factors involved in compounding growth are the amount of money of money you invest, how much your investment grows each year, and
your mutual fund manager's education
how you earn money you invest
your educational background and career
how long your money is invested
To obtain reliable information about securities, a potential investor might speak with a
loan officer
colleague
stockbroker
trusted friend
On January 3, Risa mailed her credit-card payment which was due on January 5. The credit card issuer received the payment on January 7. What most likely appeared on Anna's credit card statement the following month?
processing charge
over-limit fee
late fee
application charge
Why do many financial advisors recommend that you validate your financial credit history annually?
Information in your credit report can impact how much you pay to borrow money
Information in your credit report appears in your social networking profiles
Most universities review your financial credit report before accepting you as a student
info on your credit report can impact how much you pay to borrow money
Which of the following is a possible consequence of having one's identity stolen
homelessness
unemployment
need for new identity
damage to credit history
Why should you spell out the check amount when completing checks
spelled out amount verifies who can cash the check
spelled out amount gives the purpose for the check
spelled out check amount is used if the numbers are unclear
spelled out amount specifies the bank's routing number
When Charles receives a check four times a year for income he has earned on his stock investments, he is receiving
deposits
cash
dividents
credit
Which of the following is the most effective way to pay off bills:
pay the largest bills first
pay the smallest bills first
pay those with the highest interest rates first
pay those with the lowest interest rates first
What is the most negative information possible on a credit report?
late payment
lien
collection agency report
bankruptcy
Which of the following is a disadvantage of a checking account
account balance requirement
overdraft protection
online transaction options
direct payroll deposit
Individuals are most likely to require the services of a mortgage company when they want to
invest in the stock market
earn interest on savings
purchase real estate
acquire liability insurance
The disadvantage to using credit cards to pay for goods and services is that you
defer cash payments
pay interest on purchases
establish a credit rating
earn quarterly dividents
For an investment to yield positive results at the end of the investment period, the earnings should
grow by at least 10%
be accrued on a debt security
be documented appropriately
exceed the rate of inflation
