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WorksheetsPersonal Finance Final Test
Total questions: 30
Worksheet time: 31mins
An example of a financial institution is:
A department store
A bank
A school
An ATM machine
Which is a disadvantage of a credit card?
Credit cards are buy-now, pay later
Credit cards provide preapproved credit
Credit cards charge interest
Credit cards are the best way to pay for something online, because you can dispute a the charge
The issuer of a bond is:
the lender
the borrower
a stock security
a quality bond rating
A type of security that represents equity ownership in a company, and includes voting rights, is called:
common stock
a government bond
preferred stock
a zero-coupon bond
A professionally managed pool of investments including stocks and bonds and other assets is called:
a mutual fund
a government bond
a treasury bond
an online brokerage account
Which of the following is an advantage of a budget plan.
To help people plan for what they need and want.
To help them lose money.
To help them help others
To help out a friend in need.
A ____________ is a way of recording your income and spending.
budgie
budget
budge
none of the above
Which of these is NOT a benefit of budgeting.
Preparing for the future
Saving for needs and wants
Helping to identify opportunities
Helping you to lose money
Preparing a budget includes
Income, Expenses, and Saving
Only listing your debts
Only listing your expenses
Only listing your income
Examples of Fixed Expenses include:
Gas, food, phone
Cable, entertainment, food
Mortgage, loans, rent
Clothing, gas, food
I received my paycheck from my employer. My paycheck is an example of a what:
withdrawal
loan
deposit
tax
Select the key parts of a budget are (select all that apply):
Savings
Expenses
Income
Goals
Spending
Long term goals usually take ______ to accomplish.
over 6 months
under 6 months
1 month
1 week
4.3%
An account at a depository institution that is used for a fixed period of time and allows restricted access to the funds deposited.
Certificate of Deposit
Checking Account
Money Market Deposit Account
Savings Account
An account at a depository institution that usually has minimum balance requirements and tiered interest rates.
Certificate of Deposit
Checking Account
Money Market Deposit Account
Savings Account
Which type of savings tool is the MOST Liquid?
Savings
Checking
Certificate of Deposit
Money Market Account
Which type of savings tool typically earns the HIGHEST Interest?
Savings
Checking
Certificate of Deposit
Money Market Account
Micah is a high school senior who works part‐time earning $500 per month. He is responsible for paying several of his own expenses including entertainment, automobile insurance and eating out. He needs a flexible account which allows him easy access to his money. Which savings tool would you recommend Glenn utilize and why?
Checking Account because he needs access to his funds often.
Savings account because he can overdraft into savings as needed.
Certificate of Deposit because he does not need access to his funds often
Money Market Account because does not need access to his funds often
Anna has a checking account at Garden City Bank. Her balance at the beginning of February was $5,195.65. During the month, she made deposits totaling $6,873.22, wrote checks totaling $7,859.92, was charged a maintenance fee of $15, and earned $6.05 in interest. What was the balance at the end of the month?
5195.65 + 6872.33 - 7859.92 - 15 + 6.05 =
(a)
Mark has a balance of $1,200 in his checking account. He deposits a $387.12 paycheck, a $437.12 dividend check, and a personal check for $250 into his account. He wants to receive $400 in cash. Fill out a deposit slip representing his transactions. What is Mark’s new balance?
(a)
Bank Savings charges an overdraft protection fee of $33. Neela’s check register showed she had a balance of $456 when she wrote a check for $312. Three days later she realized her check register had an error and she actually only had $256. So she transferred $250 into her checking account. What was the balance in her account after the transfer?
(a)
