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WorksheetsFinancial Lit Unit 2 Study Quiz
Total questions: 30
Worksheet time: 30mins
What is Money received regularly for work or through investments?
Income
Net Pay
Gross Income
Gross Pay
Net Income
What is Total pay or earnings before any deductions have been taken?
Income
Net pay
Gross pay
Gross Income
Net Income
What is Income amount remaining after deductions have been taken?
Income
Net income
Gross income
Net pay
Gross pay
Investment Firms, Banks and Credit Unions are all forms of the...?
Federal Institution
Finances Society
Financial Institution
Federal Society
What is Committing money to gain a profit or earn interest?
Premium
Interest
Invest
Savings Account
What is a professionally managed collection of stocks or bonds of various corporations?
Stocks
Mutual Funds
Bonds
Market Reasearch
What is a share of a corporation sold to the public?
Bond
Income
Mutual Fund
Stock
What is an interest-bearing account where people put money for future use?
Savings Account
Investment
Interest
Premium
What is automatically saving a specified amount from a paycheck for future use?
Deductible
Savings Account
Pay Yourself First (PYF)
Net Income
What is an IOU issued by a company, municipality, or the federal government in exchange for a loan that will be repaid at a set rate of return?
Mutual Fund
Stock
Pay Yourself First (PYF)
Bond
What three things must you increase in order to make money on investments?
Deductibles, time, and interest
Amount, time, and interest
Time, Co-pay, and interest
Amount, Deductibles, and Co-pay
a fee received or paid for the use of money
Investment
Interest
Opportunity Cost
Principal
the amount of money originally invested
Premium
Scholarship
Deductible
Principal
The possibility of financial loss or physical harm
Principal
Risk
Opportunity Cost
Danger
The benefit that a person could have received, but gave up, to take another course of action
Compound Interest
Risk
Opportunity Cost
Simple Interest
Why is compounding interest better than savings account simple interest?
It's not, simple interest is better.
Because simple interest is too much the same.
Because savings account have a low-risk.
Because you recieve more money when you compound interest.
What is a 401k?
A paycheck
The amount of money empolyees choose to put aside for retirement (in most companies that's 6% of their paycheck).
A tax deduction
A retirement paycheck
What does IRA stand for?
Investments Residents Application
Individual Retirement Account
Income Residents Application
Interest Resident Account
The fee received for using money
Investment
Interest
Stock
Mutual Fund
The company's abbreviation as used on the NYSE
Stocks
Financial Loss
Bond
The stock symbol
What is a Contract that outlines coverage plans and protects a person against financial loss or damage?
Financial Loss
Insurance Policy
Deductible/Co-pay
Risk
What is money paid out of pocket before insurance covers the remaining costs?
Income
Gross Income
Expected Family Contribution
Deductible/Co-pay
What is the amount paid for an insurance policy?
Premium
Expectancy Cost
Income
Principal
Who is eligible for Medicare?
People that are 65+
People whom are 45+
Everyone is eligible for medicare
People with disablities only
What does FAFSA stand for?
Federal Application for Student Aid
Free Applicants for Summit Aspects
Free Application for Student Aid
Federal Applications from South Asia
When can you file your FAFSA?
November 8th
September 2nd
October 1st
End of January
An award of free money that you apply for
Stock
Investment
Income
Scholarship
What does SAR stand for?
Student AVID Representatives
State Applications Reprise
Scholars Arizona Refugee
Student Aid Report
What does EFC stand for?
Excelling Farming Collectors
Expected Family Contribution
Expected Federal Contribution
Entertaining Fish Countdown
What are some important things to know before selecting a college?
Tuiton
Graduation Rate
Room & Board
All of the above
