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WorksheetsME Unit 8 Quiz Prep
Total questions: 10
Worksheet time: 5mins
Which is an example of a short-term goal?
Next month's mortgage
Retirement
Saving for a house
Saving for little sister's college
_______ is the fee that banks pay to customers with savings accounts and the fee you pay when borrowing money.
debit
payment
withholding
interest
When trying to determine how many months you need to save for your dream car, which question from the SMART goal framework should Janis MOST likely focus on?
Specific
Measurable
Achievable
Timely
The "shiny object syndrome" is referring to _____.
Avoiding get-rich-quick opportunities
Avoiding go for the job with the highest pay
Avoiding the development of a product that is for image only
Go after the option that looks best from the outside
In a chart that illustrates compound interest, what element represents the exponential increase in savings over time?
the compounding frequency
the interest rate
the variable expenses
the variable expenses
When setting a budget, you should use which source of income data?
adjusted income
annual salary
after-tax income
bonuses
What is a fixed expense?
An expense that costs the same each pay period
An expense that changes each pay period
According to data from Mint.com, roughly how many Americans reported that they didn’t know how much money they’d spent in the previous month?
about a third
about half
about two-thirds
about a quarter
Credits are to debits as _______ is to expenses.
salary
taxation
revenue
equity
One great benefit of 401(k) retirement plans is that the company will often _______.
pay for your retirement in full
allow you to skip retirement payments
guarantee your job until retirement
match your investment
