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WorksheetsBanking with Boss
Total questions: 16
Worksheet time: 8mins
What is an asset
Something that appreciates over time
Something that depreciates over time
Anything that you own that has value
All of the above
What is a paycheck “withholding”?
Money your employer keeps for fun
Money taken out for taxes and other deductions
Money you refuse to spend
Money you save automatically
WHAT DOES EQUITY IN YOUR HOME MEAN?
You owe more than your home is worth
Your mortgage payment
The total price of your home
The amount of your home you actually own after subtracting what you owe
In finance/accounting, what does liquidity mean
How much money you earn per year
The amount of debt you owe
How much your investments earn
How quickly an asset can be converted into cash without losing value
What is diversification in investing?
Putting all your money in one company
Investing in different types of assets to reduce risk
Selling all your investments at once
Avoiding risky investments
Which of these is the safest place to keep your savings
Under your mattress
In a savings account at a bank or credit union
In an investment account
In cryptocurrency only
After struggling to pay his bills on time, Bob filed for _____.
A savings account
Bankruptcy
Divorce
College
What does APR stand for in finance?
Annual Percentage Rate
Average Payment Ratio
Annual Payback Rate
Adjusted Payment Return
WHAT IS THE FEE YOU PAY WHEN YOU BORROW MONEY?
Deposit
Credit Bureau
Interest Charge
Insurance
With a Roth IRA (Individual Retirement Account), you do not pay taxes…
When you withdraw the funds during retirement
When you earn the funds before you retire
You never have to pay taxes
You never pay taxes on the interest income
What is the “Rule of 72” used for?
Calculating how to receive a 720 credit score
Estimating time it takes money to double at a given interest rate
Determining your annual budget using $7,200
Figuring out your tax refund
What is an ETF (Exchange-Traded Fund)?
A savings account offered by banks
A government-issued bond
A group of investments that trades like a stock
A retirement-only investment
WHAT IS A DETAILED REPORT THAT INCLUDES A PERSON’S CREDIT HISTORY
CREDIT REPORT
CERTIFICATE OF DEPOSIT
INVESTMENT
PERSONAL FINANCE
What happens when you check your own credit
Your credit score goes up
Your credit score goes down
No impact to your credit score
The credit bureau alerts your bank
What type of debt is considered good debt
Credit Cards Debt
Auto Loan Debt
Student Loan Debt
Store Credit Debt
What three main factors are used to calculate your credit score?
Your income, debt, and monthly expenses
Your payment history, money owed, and credit history
Your payment history, annual income, and total debt
Your income, income taxes, and monthly expenses
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