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WorksheetsBanking & Investment Terms
Total questions: 15
Worksheet time: 8mins
Which would you use to get cash from your bank account?
Phone
Computer
ATM
What term describes the interest rate for a loan?
APR
ATM
529
401(k)
Which account would you use to pay your monthly bills?
Savings Account
401(k)
IRA
Checking Account
James Maxwell said this "is telling your money where to go, instead of wondering where it went." What do you think he was talking about?
Collateral
Credit
Compound Interest
Budget
Which is a way for a company to pay a portion of its profit to shareholders? (Shareholders are also called Stock Owners)
Credit
Dividend
Interest
401(k)
Banks often charge high fees for overdrafts. What is an overdraft?
When you don't have enough money in your account, but the bank pays anyway
When you bounce a check at a store
When your account balance goes over the minimum required amount
When your grandma passes gas while standing over you
Which term describes the next best thing you could do with your time or money after you choose to do or buy one thing instead of another?
Mutual Fund
Net Income
Rate of Return
Opportunity Cost
Gross Income is the full amount of money you earned based on your work. My friend once complained, "My Net Income is gross!" What is Net Income?
The amount of your paycheck AFTER taxes and deductions
The amount of your paycheck BEFORE taxes and deductions
The amount of TAXES you pay
The FEE charged by your employer for giving you a paper check
Which of these is an investment that gives you part ownership of a company?
Principal
Rate of Return
Stock
Real Estate
Would you prefer a higher Rate of Return on an investment or a lower Rate of Return? (Assuming you want your money to grow)
Higher
Lower
Which is a Retirement Account that you must set up on your own (i.e. NOT through your employer), and you can choose how the money is invested?
401(k)
529
IRA
Pension Plan
Which is a Retirement Savings Plan offered by your employer where you can choose how the money is invested?
401(k)
529
IRA
Pension Plan
Which type of account is designed for saving for future education expenses (like college)?
401(k)
529
IRA
Pension Plan
If you are borrowing money, would you prefer your loan to have a higher or lower APR? (Assuming you want to pay as little as possible)
Higher
Lower
Which of the following are used to save for retirement? CHECK ALL THAT APPLY
APR
ATM
401(k)
529
IRA
