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WorksheetsPersonal Finance Review
Total questions: 25
Worksheet time: 15mins
a (a) is a specific duty, task, or activity someone completes using his or her time, skills and energy to earn money.
What path would you need to choose to become an engineer?
4 Year College
Apprenticeship
2 Year College
Entrepreneurship
What is a goal?
your ability to repay a loan and other debts
An item with economic value, such as stock or real estate
Something you wish to achieve or accomplish in a specific amount of time
A (a) is something that you would like to have but that you could live without.
A need is something you must have to survive, such as (a) , shelter or food
What is income?
money that you receive from jobs
the cost of goods and services
What is an expense?
money that you receive from jobs
the cost of goods and services
What is a fixed expense?
An expense that does not change from month to month
the gross pay minus deductions
What is cash flow?
the amount of money flowing in (income) and flowing out (expenses) of a personal budget
refers to your ability to repay a loan and other debts
A “Rainy Day” Fund (Emergency Fund) is (a) set aside to pay for unexpected expenses
What does a savings account pay you for saving?
Over
Loan
Interest
Which of the following definitions describes a bank?
A not-for-profit financial institution owned by its members and represented by a volunteer board of directors who are elected by the membership.
a financial institution and business that accepts deposits, makes loans, and handles other financial transactions
Which of the following definitions describes a credit union?
A not-for-profit financial institution owned by its members and represented by a volunteer board of directors who are elected by the membership.
a financial institution and business that accepts deposits, makes loans, and handles other financial transactions
Which type of account will allow you to write cheques and use your debit card?
Savings Account
Checking Account
Which amount Is larger?
Net Pay
Gross Pay
Which of the following is NOT one of the 4C's of Credit?
Collateral
Character
Commission
Capacity
A (a) is a loan for a home or land.
Which type of card allows you to buy now and pay later?
Credit Cad
Debit Card
Charge Card
Loyalty Card
Which card requires you to have enough money at the time you pay for something?
Credit Cad
Debit Card
Charge Card
Loyalty Card
Which financial ratio measures your debt to your income?
Debt-to-Asset
Debt-to-Limit
Debt-to-income
Which financial ratio measures your debt to your assets?
Debt-to-Asset
Debt-to-Limit
Debt-to-income
Which financial ratio measures your credit balance to your credit limit?
Debt-to-Asset
Debt-to-Limit
Debt-to-income
A (a) is an item you own.
A (a) is money you owe.
What is a budget?
Money received for work
A plan for spending
