WorksheetsFinal Practice
Total questions: 20
Worksheet time: 10mins
Which of the following is deducted from take home pay?
Federal income tax
Property tax
Sales tax
Excise tax
How often can you check your credit score from a single credit reporting agency for free?
Once a year
Three times a year
As many times as you need
None
What is not a type of asset that you can use for everyday purchases?
Debit card
Cash
Credit card
Certificate of Deposit
What is the most likely source of income for young adults?
Salaries and wages
Rentals
Dividends
Business profits
What is NOT part of the business cycle?
Surplus
Peak
Decline
Growth
What option is liquid enough for an emergency savings account?
Certificate of Deposit
Brokerage Account
Savings Account
Money Market
What is a characteristic of banks?
Safer than credit unions
Not for profit
Owned by employees
Insured by the Federal Depository Insurance Corporation
What usually has the highest percentage growth over time?
Stocks
Bonds
Savings
Certificate of Deposit
What best relates to supply?
What producers are willing and able to produce at any given price.
What consumers are willing and able to buy.
How much of something can be made
What people will buy
Who uses monetary policy?
The FED
The FDIC
The Congress
The Banks
Interest on savings accounts is:
taxable
non-taxable
What type of insurance covers damage caused by you?
Liability
Collision
Comprehensive
Uninsured Motorist
A W-4 Form is
What we use to choose allowances
What employers fill out to give us allowances
Where we say how much money we have made
Where employers tell us how much money we have made
A W-2 Form is
What we use to choose allowances
What employers fill out to give us allowances
Where we say how much money we have made
Where employers tell us how much money we have made
What is the best way to deal with risk when investing?
Avoid buying stocks
Diversify
Buy low risk options like bonds
All of these
When a country sends more goods than it receives, what is that called?
trade surplus
trade equilibrium
trade balance
trade deficit
Compound interest:
Uses all previously accumulated interest
Should be avoided
Is the usual for home/car loans
is principal x interest rate
Simple interest:
Is how long it takes your money to double
is principal x interest
Is required by the FED
Yields more money
What is a disadvantage of mutual funds?
Automatically diversified
Managed for you
Commissions
They do not make money
Who do you send your taxes to?
FDIC
FED
IRS
FOMC
