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Bearcat Personal Finance

Total questions: 45

Worksheet time: 23mins

Name
Class
Date
1.

This type of interest "creates a mathematical explosion," and it can make you wealthy over time, or keep you in debt for a long time.

a)

compound

b)

sinking

c)

annual

d)

simple

2.
Cost of credit expressed as a yearly percentage 
a)
Mortgage
b)
Principal
c)
APR
d)
Finance company
3.
The cost of borrowed money, usually expressed as a percentage.
a)
interest
b)
savings plan
c)
scarce
d)
purchase
4.
401(k), IRA, and Roth IRA are all examples of a __________ account.
a)
Retirement
b)
College Savings
c)
Low Interest
d)
Stock
5.
What does CD stand for when talking about investments?
a)
Calculated Dividend
b)
Certificate of Deposit
c)
Central Dollar
d)
Current Deposit
6.
A mutual fund allows investments to be ___________.
a)
Secured
b)
Guaranteed
c)
Diversified
d)
Minimal
7.
This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income.  Sometimes employers will even match the employee contribution up to a certain amount.
a)
mutual fund
b)
401(k)
c)
Roth IRA
d)
savings
8.
This term refers to the original amount of a loan OR the original amount of money invested. 
a)
Principal
b)
Interest
c)
Rebate
d)
Fixed Rate
9.
This is just a savings account with a slightly higher interest rate because the saver commits to a longer saving period for a set amount deposited.
a)
C.D.
b)
debt
c)
beneficiary
10.
This is an obligation of repayment, usually including principal plus interest; any time you owe someone money.
a)
compound interest
b)
emergency fund
c)
APR
d)
debt
11.
The availability of money; how quickly you can convert it into cash in your hand is its _______.
a)
diversity
b)
liquidity
c)
yield
d)
gratuity
12.
Term that applies to the ability to buy something now and pay for it later over a period of time (usually with having to pay a finance charge and/or the addition of interest). 
a)
Savings
b)
Profit
c)
Budgeting
d)
Credit
13.

What is a credit score?

a)

a three-digit score that tells lenders how much money you make each year.

b)

A five-digit numerical rating that reflects how likely you are to repay your debt.

c)

A three-digit numerical rating that reflects how likely you are to repay your debt.

d)

A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

14.
A sum of money paid to shareholders of a corporation out of its earnings.
a)
index
b)
dividend
c)
profit
d)
invest
15.
A holder or owner of stock in a company or corporation.
a)
stock market
b)
shareholder
c)
portfolio
d)
industry
16.
Stocks represent ownership in a corporation.
a)
TRUE
b)
FALSE
17.

A bond's interest rate

a)

Coupon Rate

b)

Maturity

c)

Par Value

d)

Yield

18.

The length of a bond

a)

Coupon Rate

b)

Maturity

c)

Par Value

d)

Yield

19.

The principle amount (face value)

a)

Coupon Rate

b)

Maturity

c)

Par Value

d)

Yield

20.

The best rating a bond can receive

a)

D

b)

AAA

c)

AA

d)

B

21.

High yield, risky bonds

a)

Junk

b)

Corporate

c)

Municipal

d)

Savings

22.

Bonds issued by local governments for improvement projects

a)

Municipal

b)

Savings

c)

Treasury

d)

Junk

23.

Where ordinary over-the-counter stocks are traded

a)

New York Stock Exchange

b)

NASDAQ

24.

Reviews stock prices from 30 companies to determine the health of the stock market

a)

Dow Jones

b)

S & P 500

c)

New York Stock Exchange

d)

NASDAQ

25.

When stock prices decrease as investors fear their ability to make a profit

a)

Bull Market

b)

Bear Market

c)

Shares Market

26.

If you sold stock for a cheaper price than you purchased it for, you experienced...

a)

Capital Loss

b)

Capital Gain

c)

Dividends

d)

Bull

27.

The out of pocket cost to the insured when a loss occurs is called...

a)

Premium

b)

Deductible

28.

A stone hits your windshield. Which type of coverage would likely cover this expense?

a)

Collision

b)

Liability

c)

Comprehensive

d)

None

29.

What factors impact the cost of your auto insurance premium? (hint: choose 3 correct answers)

a)

Deductible amount

b)

The vehicle you are insuring

c)

Your credit score

d)

Your income

30.

Your health insurance copay is

a)

Amount paid out of pocket before your insurance coverage

b)

Paid by the insurer

c)

Applied on an annual basis

d)

A fixed amount of money you pay each time you use your plan

31.

The FDIC insured deposit limit is

a)

$150,000

b)

$200,000

c)

$250,000

d)

$300,000

32.
FICA taxes are
a)
U.S. federal payroll taxes imposed on both employees and employers to fund Social Security and Medicare
b)
U.S. federal payroll taxes imposed on employees only to fund Social Security and Medicare.
c)
U.S. federal payroll taxes imposed on both employees and employers to fund Social Security.
d)
U.S. federal payroll taxes imposed on employers only to fund Social Security and Medicare
33.
The form that determines the amount of money withheld for taxes is called a: 
a)
w4
b)
i9
c)
w2
d)
1040ez
34.
Total amount paid to an employee each pay period, including regular pay, overtime pay, and other taxable earnings (such as reimbursements)
a)
net pay
b)
gross pay
c)
payroll deductions
d)
none of these
35.
The amount of money subtracted from the gross income for taxes. Typically about 30% of your paycheck
a)
social security
b)
medicare
c)
payroll withholdings
d)
income tax withholdings
36.
Helps provide retirement income for the elderly and pays disability benefits
a)
medicare
b)
social security
c)
state income tax
d)
federal income tax
37.
A health care program for the elderly and disabled
a)
social security
b)
medicare
c)
state income tax
d)
federal income tax
38.
Also known as take home pay, this is the amount left after all payroll deductions have been taken from the gross income
a)
gross pay
b)
withholdings
c)
net pay
d)
real pay
39.

Most stocks in America are traded in over the counter markets, not the NYSE.

a)

true

b)

false

40.

Collateral can earn you lower interest rate because the lender knows they can take your assets if you can’t make your payments.

a)

true

b)

false

41.

Simple interest example- you borrow $100 for two months at 10% monthly. You pay back $_____.

a)

100

b)

110

c)

120

d)

220

42.

If interest rates are high and you have extra money, it would be wise to save your money in a bank or investment account.

a)

true

b)

false

43.

The three criteria for taxes are equity, _________________and efficiency.

a)

difficulty

b)

simplicity

c)

paid willingly

d)

none of the above

44.

Proportional tax example- ____________________, everyone pays the same percentage.

a)

tariff

b)

income tax

c)

excise tax

d)

property tax

45.

Gina wants to start her own hair salon. She goes to the bank and takes out a loan for $200,000. Meanwhile, Rodger's teaching job has gone well and he is making a lot of money. He decides to deposit $100,000 in the same bank. The bank they both use will

a)

Charge Gina higher interest than they pay Roger.

b)

Require them both to be members of the bank before they can open an account our acquire a loan.

c)

End up paying Roger exactly what they charge Gina because Roger deposited less money than Gina borrowed.

d)

Pay Roger higher interest than they charge Gina.

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