NEW
Font size
WorksheetsFin Lit Final Review
Total questions: 36
Worksheet time: 25mins
Your Prior credit history will be analyzed when you apply for a loan or credit
True
False
Typically, speculative investments are the least riskiest of investments.
True
False
Both creditors and debtors have responsibilities to each other.
True
False
A person taking out a loan is referred to as a creditor.
True
False
Bankruptcy does not relieve all kinds of debt.
True
False
Complaints of discrimination in employment may be filed with the Equal Employment Opportunity Commission.
True
False
Credit is the use of someone else’s money to use now and pay back at a later date.
True
False
Failure to pay taxes can lead to garnishment of wages, fines, or possible imprisonment.
True
False
Which of the following would be considered a professional career?
cashier
lawyer
waiter
painter
Someone who organizes, manages, and assumes the ownership risks of a new business is referred to as a(n):
engager
salesman
entrepreneur
professional
Which of the following might not be included on a recent graduate’s resume?
social security number
eduacation
personal information experience
ohn and Terri are both Level 1 supervisors at a manufacturing company. When they communicate with each other at work, they engage in
upward communication
downward communication
diagonal communication
horizontal communication
All of the following are levels in Maslow’s Hierarchy of Needs except:
Safety and security
Income and Net Worth
SELF ESTEEM
self actualization
If you are a salaried worker,
you don't pay federal income taxes
you get paid an hourly wage
no deductions will be taken from your paycheck
your gross pay is the same as your salary
A type of incentive pay based on quality of work done or years of service on the job is called a
bonus
stock option
profit sharing plan
pension plan
You must file your tax return by this date every year.
January 1
April 15
June 1
December 31
Which of the following would be considered a long-term need?
major appliance purchase
weekend getaway vaction
home ownership
car repair
Which of the following is not one of the 5 C’s of Credit?
character
collateral
capability
conditions
Which of the following is a reorganization form of bankruptcy for businesses?
Chapter 11
Chapter 13
voluntary
involuntary
Income that you can spend as you please and is left after deductions and fixed expenses is referred to as
Deferred income
Discretionary income
Disciplined Income
Dependent Income
Savings accounts at accredited banks are insured by the FDIC up to what amount?
100,000
250,000
500,000
1,000,000
An interest rate that changes over time is referred to as a:
fixed rate
market rate
variable rate
margin rate
The amount borrowed or deposited into a savings account that collects interest is referred to as:
accrued
premium
rate
principal
Which one of the following is not a credit bureau that reports credit scores
Equifax
Transunion
Transportation
Experian
All of the following are levels in Maslow’s Hierarchy of Needs except:
Saftey and Security
Self-esteem
Income and Net Worth
Self-actualization
A type of incentive pay based on quality of work done or years of service on the job is called a
bonus.
profit sharing plan
stock option.
pension plan.
You must file your tax return by this date every year.
January 1
June 1
April 15
December 31
Influencing legislation to pass favorable laws is referred to as:
arguing
commuting
defending
lobbying
The main revenue source for the Federal Government is:
excise taxes
social security taxes
income taxes
employment taxes
All the taxable income you receive is referred to as:
Adjusted Income
Net Income
Gross Income
Total Income
The two-factor motivational theory was devised by what psychologist?
Heimlich
Hershey
Herzberg
Maslow
Income that you can spend as you please and is left after deductions and fixed expenses is referred to as:
Deferred Income
Disciplined Income
Disposiable Income
Dependent Income
In the United States, the power to impose federal taxes rests with
the President.
IRS
Congress
Department of the treasury
Who tracks all of your credit information?
Credit reporting agencies (Equifax, Experian and TransUnion)
Federal government
Consumer Financial Protection Board (CFPB)
Parents
In order to qualify for financial aid, which application must you submit?
FAFSA
PLUS
EFC
EFC
