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Worksheets

Final Review - Cumulative

Total questions: 45

Worksheet time: 45mins

Name
Class
Date
1.

This type of checking account is a combination of checking and savings accounts: _____________

a)

activity accounts

b)

interest-earning checking accounts

c)

regular checking accounts

d)

interest investment savings accounts

2.

"The potential return on any investment should be directly related to the risk the investor assumes" is the basic rule of _______________.

a)

investing

b)

smart banking

c)

interest bearing investments

d)

financial regulatory services

3.

What is the name of the process of getting products to consumers (which includes pricing, packaging, shipping, advertising, and selling).

a)

distribution

b)

marketing

c)

supply chain management

d)

marketplace management

4.

________ is a collection of data that measures changes in the prices of consumer goods and services.

a)

GDP

b)

CPI

c)

FDIC

d)

APR

5.

when searching for up-to-date information for a job, you look in the O*Net Dictionary of Occupational Titles. What source did you go to in order to find this resource?

a)

internet

b)

books

c)

libraries

d)

school counseling office

6.

A resume that lists all of the qualifying skills in no particular order is called a ______ resume

a)

chronological

b)

skills summary

c)

skills

d)

functional timeline

7.

Expenses that vary from month to month are also known as ________

a)

fixed variables

b)

variable expenses

c)

variable fixations

d)

fixed expenses

8.

_________ is a state tax collected on the property left by a person to his or her heirs in a will.

a)

inheritance tax

b)

dividend tax

c)

excise tax

d)

estate tax

9.

A _______ is an overall summary of your skills and qualifications.

a)

cover letter

b)

follow-up letter

c)

follow-up list

d)

resume

10.

________ is the study of how people produce, distribute, and consume goods and services.

a)

production costs

b)

economics

c)

economic system

d)

free enterprise system

11.

_______ is another name for the money that businesses get from their owners in order to operate.

a)

equity capital

b)

money market capital

c)

mutual funds

d)

equity business markets

12.

A corporation's written pledge to repay a specific amount of money, along with interest, is also known as _________.

a)

corporate greed

b)

corporate bond

c)

government bond

d)

government savings account

13.

Which of the following is the most important step when it comes to developing a personal budget?

a)

set financial goals

b)

record what you spend

c)

review spending patterns

d)

estimate your income

14.

_______ are any other valuable belongings that are not real estate.

a)

personal possessions

b)

personal accounted assets

c)

real estate

d)

investment assets

15.

__________ is the interest you receive from banks, credit unions, and savings and loan associations.

a)

earned income

b)

interest income

c)

dividend income

d)

interest payments

16.

__________ is your adjusted gross income less any allowable tax deductions and exemptions.

a)

earned income

b)

dividend income

c)

taxable income

d)

itemized deductions

17.

A formal meeting with your potential employer that allows you to express why you think you are the best person for the job is called ____________

a)

business meeting

b)

networking opportunity

c)

interview

d)

professional meeting

18.

For-profit institutions that offer a full range of financial services, including checking, savings, and lending are called __________.

a)

commercial banks

b)

mutual savings banks

c)

commercial loan shops

d)

savings and loan associations

19.

Which of the following is not one of the five investment alternatives?

a)

stocks

b)

corporate bonds

c)

mutual funds

d)

money market accounts

20.

_________ are an investment in which investors pool their money to buy stocks, bonds, and other securities selected by professional managers who work for an investment company.

a)

money market accounts

b)

common stock

c)

mutual funds

d)

certificates of deposit

21.

________ is also known as the amount of goods and services available for purchase by consumers.

a)

demand

b)

supply

c)

marketing

d)

inflation

22.

_________ are best described as 'short-term debts that have to be paid within one year'.

a)

current liabilities

b)

personal debts

c)

long-term liabilities

d)

liquid liabilities

23.

What is the total amount of income you receive before taxation?

a)

adjusted gross income

b)

adjusted taxable income

c)

gross income

d)

gross adjusted income

24.

The ________ resume provides a year-by-year outline of your education, work experience, and related information.

a)

chronological

b)

adjustable

c)

reversible

d)

skills

25.

The people who buy and use goods and services are also known as _________

a)

consumers

b)

producers

c)

consumer index list

d)

consumptioners

26.

Any place that goods and services are sold is known as a ___________.

a)

business

b)

store front

c)

marketplace

d)

marketing house

27.

____________ is a savings alternative, or option, in which money is left on deposit for a stated period of time to earn a specific rate of return.

a)

savings bonds

b)

money market accounts

c)

preferred stock

d)

certificates of deposit

28.

The __________ is the percentage of increase in the value of your savings from earned interest.

a)

interest savings rate

b)

annual percentage rate

c)

rate of return

d)

compounding rate

29.

In order to calculate the rate of return, you should divide the _________ by the amount of your _________.

a)

total interest, deposit

b)

total interest, withdrawal

c)

total interest, stocks

d)

total deposit, interest

30.

Which of the following is an example of a conservative portfolio based on percentages placed in stocks and mutual funds?

a)

15-20% stocks

b)

65-70% stocks

c)

55-75% stocks

d)

80-100% stocks

31.

Which of the following is one of the steps for developing a personal budget?

a)

reduce expenses

b)

increase investments

c)

set financial goals

d)

evaluate financial situation

32.

_________ is also known as the amount of goods and services that consumers are willing and able to purchase.

a)

supply

b)

inflation

c)

demand

d)

consumption ratio

33.

When the demand is greater than the supply, the prices will __________.

a)

increase

b)

stay the same

c)

decrease

d)

none of the above

34.

When different businesses provide similar products and services, it is known as _____________.

a)

inflation

b)

supply chain problems

c)

production costs

d)

competition

35.

___________ is a type of stock that gives the owner the advantage of receiving cash dividends before common stockholders receive cash dividends.

a)

early stock

b)

preferred stock

c)

important

d)

interest-bearing stock

36.

___________ are owned by depositors and specialize in savings accounts and mortgage loans.

a)

commercial banks

b)

savings and loan associations

c)

credit unions

d)

mutual savings banks

37.

A ________ is an expense that does not change from month to month.

a)

fixed expense

b)

living expense

c)

variable expense

d)

variable price problems

38.

A medical expense that you can deduct from taxable income is a specific expense that is also usually called a(n) ___________.

a)

standard deduction

b)

itemized deductions

c)

itemized reductions

d)

standard itemized deductions

39.

Which of the following is not a fixed expense?

a)

car loan payment

b)

mortgage

c)

medical bills

d)

insurance premiums

40.

A ________ resume highlights your skills and abilities in specific categories, such as communications, supervision, or research.

a)

skills

b)

chronological

c)

functioning

d)

none of the above

41.

What causes the purchasing power of money to decrease when the price of goods and services rises?

a)

demand

b)

supply costs

c)

inflation

d)

consumer concerns

42.

A financial institution that traditionally specialized in savings accounts and mortgage loans but not offers many of the same services as commercial banks.

a)

commercial banks

b)

savings and loan associations

c)

money market banks

d)

credit unions

43.

A _________ is a savings account that requires a minimum balance and earns interest that varies from month to month.

a)

money fund account

b)

interest market account

c)

money market account

d)

savings market account

44.

These type of accounts, traditionally called passbook accounts, are ideal if you plan to make frequent deposits and withdrawals but receive low interest compared to other accounts.

a)

money market account

b)

mutual funds

c)

credit interest account

d)

regular savings account

45.

As the term of the investment grows longer, the amount of total return increases exponentially. This concept is known as the __________.

a)

time value of interest

b)

time value of stock funds

c)

time value of money

d)

time value of financial gains