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WorksheetsEPF Vocabulary 4.1
Total questions: 12
Worksheet time: 6mins
What is a financial plan?
A document outlining a person's life goals
An intended action pertaining to money or finance
A budget for a vacation
A legal contract
What is inheritance?
Money paid for services
Money received through a will or legal succession
Money earned from investments
Money paid for taxes
What is a salary?
A fixed amount of money paid regularly for work
A bonus given for good performance
A form of investment
A tax deduction
What is net income?
Total earnings before taxes
Total earnings after taxes
Total earnings after deductions
Total earnings before deductions
What is a wage?
A tax deduction
Money paid regularly to an employee for services rendered
A type of insurance
An inheritance
What is disposable income?
The income received from investments
The income left after taxes are deducted
The income received from a salary
The income used for paying bills
What does bankruptcy entail?
Being declared incapable of managing one's finances
Being unable to pay off debts and having assets administered by a court
Declaring financial independence
Having unlimited access to funds
What is an executor?
A financial advisor
A person named to carry out the provisions of another's will
A person who receives an inheritance
A lawyer specializing in estate planning
What is gross income?
Total earnings before taxes or deductions
Total earnings after taxes
Total earnings after deductions
Total earnings before deductions
What is insurance?
A form of investment
A protection against certain accidents provided by a company for a fee
A type of loan
A government subsidy
What is a co-pay?
A payment made to a co-worker
A set rate paid for certain types of healthcare services
A contribution to a pension fund
A fee for using a bank's services
What is estate planning?
Planning for one's retirement
Planning for how assets will be managed and distributed after death or incapacity
Planning for a vacation
Planning for starting a business
