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Unit 2 Personal Finance

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Costs that can go up and down each month

a)

Variable Expenses

b)

Assets

c)

Liabilities

d)

Fixed Expenses

2.

Money and items of value that you own

a)

Net Worth

b)

Assets

c)

Liabilities

d)

Fixed Expenses

3.

Costs that do not change each month.

a)

Variable Expenses

b)

Assets

c)

Liabilities

d)

Fixed Expenses

4.

Debts that you owe

a)

Net Worth

b)

Assets

c)

Liabilities

d)

Fixed Expenses

5.

The difference between your assets and liabilities

a)

Net Worth

b)

Assets

c)

Liabilities

d)

Fixed Expenses

6.

Things you want to achieve in your life.

a)

Personal Goals

b)

Financial Goals

c)

Assets

d)

Financial Plan

7.

A spending and saving plan based on expected income and expenses

a)

Personal Goals

b)

Financial Goals

c)

Budget

d)

Financial Plan

8.

A set of personal and financial goals, along with steps and timelines for reaching them

a)

Personal Goals

b)

Financial Goals

c)

Budget

d)

Financial Plan

9.

Interest earned on both principal and previously earned interest

a)

Compound Interest

b)

Simple Interest

c)

U.S. Savings Bond

d)

Money Market Account

10.

A discount bond issued by the federal government that pays a guaranteed rate of interest

a)

Certificate of Deposit (CD)

b)

Simple Interest

c)

U.S. Savings Bond

d)

Money Market Account

11.

A time deposit that pays a fixed rate of interest for a specified length of time

a)

Certificate of Deposit (CD)

b)

Checking Account

c)

U.S. Savings Bond

d)

Money Market Account

12.

A type of savings account that earns the market rate of interest on the money deposited

a)

Savings Account

b)

Checking Account

c)

U.S. Savings Bond

d)

Money Market Account

13.

A demand deposit at a bank on which checks are drawn

a)

Savings Account

b)

Checking Account

c)

U.S. Savings Bond

d)

Money Market Account

14.

A written order to a bank to pay a stated amount to a person

a)

Savings Account

b)

Checking Account

c)

U.S. Savings Bond

d)

A Check

15.

A demand deposit account designed for the accumulation of money in a safe place for future use

a)

Savings Account

b)

Checking Account

c)

U.S. Savings Bond

d)

A Check

16.

The chance of injury, damage, or economic loss

a)

Money

b)

Risk

17.

A plan for sharing the risk of medical costs resulting from injury or illness

a)

Auto Insurance

b)

Health Insurance

c)

Life Insurance

d)

Homeowners Insurance

18.

A policy that protects property owners from risk of loss to their real and personal property

a)

Auto Insurance

b)

Health Insurance

c)

Life Insurance

d)

Homeowners Insurance

19.

Insurance that pays money to the beneficiary upon the death of the insured person

a)

Auto Insurance

b)

Health Insurance

c)

Life Insurance

d)

Homeowners Insurance

20.

A policy that protects a car owner from losses as a result of accidents and other events

a)

Auto Insurance

b)

Health Insurance

c)

Life Insurance

d)

Homeowners Insurance