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WorksheetsFinancial Math FINAL Ramsey ch 1-6
Total questions: 50
Worksheet time: 26mins
A yearly fee that's charged by the credit card company for the convenience of the credit card
Annual Fee
Annual Percentage Rate (APR)
ARM
Balloon Mortgage
An arrangement to receive cash, goods, or services now and pay for them in the future.
credit
credit card
credit limit
debit card
a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest, which is attacked with the largest possible payments
debt consolidation
debt Snowball
Depreciation
finance charge
foreclosure
a lessening in value
debt consolidation
debt Snowball
Depreciation
finance charge
foreclosure
Time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or renegotiated for another term
loan term
myth
paradigm
tax deduction
Telling EVERY DOLLAR where to go is having
a budget
authority
a German Shephard
Nice hair
You should do a budget every
Chance you get
Leap year
Halloween
Month
Choose all of the ways that people can have debt:
Car Payments
School Loans
Credit Cards
All of the above
Credit cards are only ok to use when
there is an emergency
yo girl needs a new nails
Mr. O goes to Mexico
Actually Credit cards are always a bad idea
The number-one cause of divorce in North America today is stress and disagreement over money.
True
False
Which of the following is something that a typical millionaire would do?
Spend less money than he or she makes
lease a new car
replace things that are not broken
carry debt
Financial Opportunity that is given up because you choose to do something else with your money
Opportunity Purchase
Opportunity Cost
Which of the following is not a need?
Housing
Eating out
Utilities
Food
When a company places an ad and offers no interest on your purchase for three years
They are not interested in making a profit
They are showing their appreciation to you by giving you free money
The cost of the financing is built into the price of the item
All of the above
Which is not a ʺpower over purchaseʺ tactic?
Compare your purchase with a friend’s
Consider the opportunity cost
Wait overnight
Seek counsel
Which of the following should you consider when making a significant purchase?
Your buying motives
If you can’t pay with cash, don’t buy it
The opportunity cost
All of the above
To buy an item with credit; paying over time.
Financing
Marketing plan
Americans spend a lot of money primarily because
They're trying to live a lifestyle they can't really afford
They know they'll have the money eventually
They're rich, they know what they're doing
They know those things are really important things
Which of the following is not a factor in determining a FICO score?
Getting a personal loan from a bank
Using credit cards
Paying cash for all purchases
Taking out a mortgage on a house
What factors affect a credit score?
Type of debt
New Debt
Duration of Debt
All of the above
12) A credit score is intended to measure:
Your financial success
The risk of your not repaying debt
Your income level
The amount of money you have in the bank
Which of the following is a sign that your identity may have been stolen?
A call from a collection agency about a debt you didnʹt incur
Bank and billing statements donʹt arrive on time
Your credit report shows accounts you didnʹt open
All of the above
If you are a victim of identity theft, you are only responsible for paying back half of the debt.
True
False
There are three credit bureaus: Experian, TransUnion and Equifax.
True
False
You can and should obtain a free copy of your credit report annually in order to check for any suspicious activity.
True
False
A portion of each payment is for interest while the remaining amount is applied towards the __________________________ balance.
principal
interest
interest rate
loan term
Initially, a large portion of each payment is devoted to __________________________.
interest
the principal balance
loan term
interest rate
Personal finance is about _______% behavior and _______% head knowledge.
30, 70
20, 80
70, 30
80, 20
A measurement of the total dollar value of a person’s or business’ assets minus liabilities is called:
Net Worth
Wealth
Earnings
Income
A liability can be described as:
Something you own that has value
Money you owe; a debt
Something that goes down in value over time
Money that you have in a savings account
Which of the following describes the best way to buy a car?
Ask your parents to borrow money for the purchase
Save up and pay cash for a used car in your price range
Save up a nice down payment and finance the remaining cost of the car
Allow your grandparents to cosign your loan for a new car
What factors affect a credit score?
Type of debt
New Debt
Duration of Debt
All of the above
Which of the following is not recommended in the debt snowball method of getting out of debt?
List your debts in order from smallest to largest balance and focus on paying the smallest debt off first.
Every extra dollar you get should be thrown at the largest debt first.
Attack your debt with intensity.
Every time you pay off a debt, you add its old minimum payment to your next debt payment.
If you say you're going to do something, do it. If you make a mistake, own up to it. The workplace is not like school where you can explain away not completing your work with a simple 'I forgot.' I am talking about which professional Skill ?
Critical thinking
Responsibility
Communication
Handling pressure
Time management
Indulging in inappropriate behaviour, not maintaining confidentiality, and not adhering to established norms are a few things that can place your----in question.
Networking
Interpersonal skills
Adaptability
Integrity
Leadership
Which of the following may be considered to improve your proficiency in basic techniological knowhow ?
MS excel
Google G Suite applications
SEO,HTML Webpage designing
communication skills
time management
Being proactive in your workplace is a habit you must develop. Don't have a task to do? Don't sit around browsing Facebook or YouTube, go to your boss and ask for something to do.Those who have this skill get work done are more valuable to any organization. identify the skill form the following .
Networking
Learning
Initiative
Adaptability
In the work setting, it is important to
only lie about little things
only tell lies if you're sure no one will find out
be honest
