WorksheetsS I L V A S F I N A L
Total questions: 50
Worksheet time: 1hrs 5mins
Larry swaps his car for a used motorcycle. This is an example of ____.
Bartering
money
minimum wage
Ur mom
A flate rate tax...
means the same tax rate is used for all income levels
means everyone pays the same amount of tax
is really the same as a progressive tax
Rihanna forehead
Taxes for social security and medicare are part of...
(a)
Gross income on a tax return which of the following?
wages
exemptions
itemized deductions
all of the above
What are two main types of accounts at banks?
checking and balancing
checking and savings
checking and debt
savings and borrowing
Kelly needed a safe place to keep her money, so she opened an account at her local___.
Bank
debit
checking account
sugar daddy
Sanjo empties the jar from her dreser and counts $39 in cash and 13.97 in coins. If she deposits the cash and coins, what will be her net deposit
1000000000000000000000000000
$52
$52.97
$60
An example of a market could include...
classified ads
ebay
a department store
all of the ABOVE.
What does market size refer to?
sIzE oF a StORE
impact of adversiting
number of buyers
numba of sellas.
which is an example of a payment card?
Debit card
credit card
gift card
all of the above
People can keep track of their moeny by...
combining households
good recordkeeping
cutting variable expenses
with the consumer price index
Saving money...
is an important financial goal
results in good recordkeeping
depends mostly on variable income
all of the above
The purchasing power of cash declines during a period of...
inflation
fixed expense
tom brady
consumer price index
A credit card
a revolving line of credit
has no credit limits
is cool
has no credit limit if your fico score remains above 700.
a fico score is
the same as debt to income ratio
the most common credit score
a tool to compute cash advance fees
ur moms 2002 honda accord
The original sum of money borrowed us called the
principal
collateral
lien
installment
A promissory note specifies
only the interest rate
is repaid in one payment without interest
the principal, interest rate, and term
?
Ambers car loan had a(n)______ of four years.
term
payday loan
collateral
lien
Why do lenders require collateral on some loans?
Sticker price of a new car is
set by dealer
the minimum price set by the manufacturer
not subject to negotiation
only a suggested price
The cost of owning a car includes
gas
repairs
insurance
all of the above
A title loan is
available with or without collateral
a short-term, low-interest loan.
a long term, low-interest term
another name for a pawn shop loan.
What would be specified in a lease agreemnet
term of lease
rent amount
description of property
all of the above
Renters insurance covers
rent payment
renters dwellings
renters belongings
colonscopies
wealth is commonly measured by
net worth
net worth minus liabilities
net worth plus liabilities
total assests
a bond pays
dividends
interest
premiums
active income
a bond can be priced
only at par value
only at par value or a discount
only at par value or a premium
nah
Insurance...
is a way to share risk
requires participation by a large group of people
provides protection from financial loss
all of the above.
Blaines cash inflow exceeded his cash outflow last year, meaning his ___ was positive.
net cash flow
cash flow statement
fixed income
inflation
SOMETHING OF VALUE THAT IS PLEDGED AS SECURITY FOR LOAN IS CALLED...
a lien.
amortized principal
a promissory note
collateral
Why do lenders require collateral on some loans?
What are two extreme consequences of not repaying a loan under the terms of the agreement?
Reduction of credit score
Seizure of personal property
You have to fight John Cena. but you're blind.
You have to say sorry :(
Larry is paid each week. His sister is paid once a month, these times frames are called (a) .
Unearned income could include earnings from
investments
salary
bonuses
commissions
Most employers are required by law to pay employees at least how much per hour?
minimum commission
minimum wage
living wage
regular earnings
What figures are needed to determine taxable income?
gross income
adjustments to gross income
deductions
all of the above
Your mom just completed his tax return which shows he owes $4,800 in tax. His employer withheld $5,000 in federal tax from his paychecks last year. Which of the following is true?
Your mom needs to pay the federal gov. $4,800 in tax.
Your mom needs to pay the federal gov. $200 in tax.
Leonard can file his return and receive a $ 200 tax refund
Leonard can file his return and receive a $5,000 tax refund
The total of your earned and unearned income within a specific period of time is your (a) .
Which of the following are places you can do banking?
Credit Union
Bank
Automated teller machine
All of the above
Simple interest
cannot be paid by credit unions
cannot be expressed as a percentage
is another name for compound interest
is paid only on the original principal
Kelly wrote a (a) for $1,000.01 to pay her monthly cell phone bill.
Kelly's bank sends her a (a) every month that summarizes her account activity.
What is the difference between a checking account and a savings account?
The 6% (a) in Michigan adds $1,500 to the cost of a new car priced at $25,000.
A plan for how your income is going to be used and spent is called...
a cash flow statement
a budget
The jerry springer show
fixed income analysis
Which of the following is a fixed expense
entertainment
clothing
rent
Xbox live
Which of the following is NOT a cash inflow?
A paycheck from a salaried job
fixed-income minus expenses
savings
money received as an inheritance
