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WorksheetsPFM Chapter 8 Review
Total questions: 18
Worksheet time: 9mins
When you save, you trade spending now for the ability to spend in the future.
True
False
The more often interest is compounded, the less interest you make
True
False
Money market accounts pay higher interest rates than regular savings accounts do
True
False
There are many compound interest calculators available on the Internet
True
False
The best way to save successfully is to make saving a regular payment from each paycheck
True
False
A credit union is a financial institution that serves a wide variety of individuals
True
False
Simple interest is earned on just your principal, not on the interest earned previously
True
False
The higher the rate of interest, the less interest your money will earn
True
False
A written promise to pay a debt by a specific date is called a
Yield
Bond
Bank deposit
Dividend
Which of the following specializes in lending to consumers who want to buy homes?
Commercial bank
Credit unions
Savings and loan associations
Finance companies
Interest can be compounded
Annually
Daily
Quarterly
All of the above
The dollar value printed on a bond is the
Number of the bond
Face value of the bond
Interest of the bond
Term of the bond
Financial institutions that offer memberships to people who share a common bond
Savings banks
Credit unions
Commercial banks
Savings and loan associations
Savings accounts are
Offered by any savings institution
A place in which you can deposit money
A way you can earn interest
All of the above
Interest paid annually at the end of the year on the average balance in the savings account is
Simple interest
Compound interest
Consumer interest
Fixed interest
Interest paid on principal & on previously earned interest & the interest is left in account
Simple interest
Compound interest
Interest
Flexible interest
A dividend is not actually a share of a company's profits
True
False
Almost all deposits are insured by a federal government agency
True
False
