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Worksheets

MM Final 2024

Total questions: 160

Worksheet time: 3hrs 41mins

Name
Class
Date
1.
Which of the following is known as something you own. 
a)
Liabilities
b)
Assets
c)
Net worth
d)
Gross income
2.
Which of the following is known as something you owe (debt). 
a)
Assets
b)
Liabilities
c)
Identity theft
d)
Budgeting
3.
Stocks
a)
Asset
b)
Liability
4.
Credit Card Debt
a)
Asset
b)
Liability
5.
Checking Account
a)
Asset
b)
Liability
6.
Student loan
a)
Asset
b)
Liability
7.

Marcel’s financial goal is to purchase a house. To make Marcel’s financial goal of purchasing a house a specific goal, he can____________. Next, Marcel can make his goal timely by_____________. Lastly, Marcel can make his financial goal measurable by___________each month. Choose ALL of the correct responses.

a)

focus on saving for a down payment

b)

as a friend to be his accountability partner

c)

giving himself a deadline

d)

committing to save a certain amount each month

e)

tracking the amount of money he saves

8.

These are Helen’s top three financial goals: create an emergency fund, save for a new guitar, and invest in her company’s stock.

Select one attribute that matches each goal. Choose the correct three ATTRIBUTES from the chart.

a)

specific, measurable, specific

b)

timely, measurable, specific

c)

timely, timely, specific

d)

specific, measurable, timely

9.

People create and keep a personal budget to help them _____.

a)

set and reach financial goals

b)

apply for loan

c)

buy anything they want

d)

earn promotions at work

10.

The following could be considered long-term financial goals, except:

a)

College tuition fee

b)

Retirement

c)

Dinner date for two

d)

Real estate

11.

Which of the following people would benefit MOST from a personal budget?

a)

Tim carefully keeps track of his expenses.

b)

Sue spends less than she earns.

c)

David is saving for a major purchase.

d)

Bob does not have enough money to pay bills.

12.

A budget or a financial plan would not work if you ___________.

a)

know how to set smart goals

b)

are a disciplined person

c)

wait for the end of the year to record your expenses

d)

know how to prioritize

13.
Money spent is called...
a)
income
b)
net gain
c)
expense
14.
Money received is called...
a)
income
b)
insurance
c)
savings
15.
What is a budget
a)
A plan to manage income and expenses
b)
 average monthly income
c)
average yearly income
d)
a plan that poor people need to use
16.
Sawyer is selling bracelets. She pays $2.00 for the beads and $2.50 for the string. She sells her bracelets for $1.00.  
How much are her expenses?
a)
$2.00
b)
$2.50
c)
$4.50
d)
$5.50
17.
What helps you save money regularly so you can reach your goals? 
a)
Human Capital 
b)
Credit 
c)
Savings Plan 
d)
Salary 
18.

STATE which of the 6 steps to financial goal planning is represented in this scenario: "George is using the SMART Goals acronym to plan out the future."

a)

Determining Your Financial Situation

b)

Developing Your Goals

c)

Identifying Your Options

d)

Evaluate Alternatives

e)

Create and Use an Action Plan

19.

STATE which of the 6 steps to financial goal planning is represented in this scenario: "Susan begins compiling a detailed summary of her finances."

a)

Determining Your Financial Situation

b)

Developing Your Goals

c)

Identifying Your Options

d)

Evaluate Alternatives

e)

Create and Use a Plan of Action

20.

STATE which of the 6 steps to financial goal planning is represented in this scenario: "Marissa, looking to begin shopping for a car, begins writing out what she NEEDS in her car and and she would WANT in her car."

a)

Determining Your Financial Situation

b)

Developing Your Financial Goals

c)

Identifying Your Options

d)

Evaluate Alternatives

e)

Create and Use a Plan of Action

21.

Which of the following best summarizes step 6 of the financial planning steps?

a)

Have a plan B

b)

Invest in bonds, not stocks

c)

Save in a bank, not a credit union

d)

Save in a credit union, not a bank.

22.

Choose the word that best completes the sentence below. A ___________ usually requires a lot of time and planning to accomplish. Something you want to complete in several years....

a)

goal setting

b)

goal

c)

long-term goal

d)

mid-term goal

23.

A _____ acts as a direction or purpose.

a)

resume

b)

destination

c)

idea

d)

goal

24.

What is goal setting?

a)

Picking up a coffee mug and setting it down on a table that says goal.

b)

Finding something that you want to accomplish and setting goals/timeframes to complete it.

c)

Figuring out a plan to not use any money for the rest of your life

d)

Accomplishing all of your goals in two minutes

25.

How else does making goals help?

a)

It helps to give you purpose and direction in life

b)

It helps you learn how to use your time wisely

c)

It can make money magically appear for your needs and wants

d)

So you never have to spend money again

26.
What does the S in SMART stand for?
a)
Sarcastic - a goal must say one thing and mean another.
b)
Simple - a goal must be easy.
c)
Sample - a goal must be typical.
d)
Specific - a goal must be focused.
27.

What does the M in SMART stand for?

a)

Maximum - there are no limits for goals

b)

Memorable - a goal must be easily remembered

c)

Measurable - a goal must have some kind of number attached so you have a way to know if you are reaching the goal.

d)

Mental - you have to be able to think about the goal.

28.

What does the A in SMART stand for?

a)

Attainable- a goal must be reachable; you CAN do it.

b)

Admirable - a goal must impress people.

c)

Artistic - a goal must be creative.

d)

Academic - a goal must be scholarly and oriented towards learning.

29.

What does the R in SMART stand for?

a)

Responsible -a goal must allow you to take charge.

b)

Relevant - a goal must be realistic and relevant to your life.

c)

Respectful - a goal must allow you to be kind and polite.

d)

Repeatable - you must be able to do the goal over and over again.

30.

What does the T in SMART stand for?

a)

Time-based - the goal must be reached within a specific length of time.

b)

Thoughtful - a goal must take into account the feelings of others.

c)

Transferable - a goal should be able to be shared with other people.

d)

Trust-worthy - a goal should be worthy.

31.

Choose the word that best completes the sentence below. A ____________ is something you want to complete in the near future. Today, this week, or month.

a)

short-term goal

b)

goal

c)

long-term goal

d)

mid-term goal

32.
Choose the word that best completes the sentence below.   A ___________ usually requires a lot of time and planning to accomplish. 
a)
goal setting
b)
goal
c)
long-term goal
d)
mid-term goal
33.
Choose the word that best completes the sentence below.   A ____________ often does not need much planning or effort. 
a)
short-term goal
b)
goal
c)
long-term goal
d)
mid-term goal
34.
You are a high school freshman and have the desire to get accepted to a top-rated university. What type of goal is this?
a)
short-term goal
b)
mid-term goal
c)
long-term goal
35.
Choose the word that best completes the sentence below.   You are __________ when you are planning how to reach a desired goal.
a)
goal setting
b)
comparing
c)
studying
d)
discovering
36.
Goals Should be ?
a)
Fast
b)
Short term
c)
Long term
d)
S.M.A.R.T.
37.
When you reach your goal, what should you do?
a)
Make another one
b)
Celebrate
c)
Tell someone
d)
All Three
38.
A Goal should have.....
a)
Pretty flowers
b)
Big Words
c)
A Timeline
d)
small words
39.
A Goal should be.....
a)
Important to you
b)
important to your friends
c)
Short
d)
important to your kids
40.
A goal should be....
a)
Measurable
b)
Yellow
c)
Mustard
d)
Golden
41.
"I will rehearse my music every day in order to play my part perfectly for the concert in December." Using SMART, what is the 'S' in this goal?
a)
To play my part perfectly for the concert
b)
rehearse my music every day
c)
December
d)
It is not relevant
42.
Name the 'M' piece of the following goal using the SMART formula.
"In order to teach my dog a new trick, I will train with my dog for 20 minutes each day through the end of the month." 
a)
Train for 20 minutes each day
b)
To teach my dog a new trick
c)
Through the end of the month
d)
It is not attainable
43.
A long term goal is....
a)
weeks to months
b)
days to weeks
c)
months to years
d)
hours to days
44.
A short term goal is...
a)
months to years
b)
days to weeks
c)
years to decades
d)
next year
45.
Mark and Susan, a recently married couple with full‐time jobs, set a goal of putting $200 in savings every month to make a down payment on a home in five years. What type of goal have they set?
a)
Short‐term
b)
Intermediate
c)
Long‐term
d)
Unrealistic
46.
Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
a)
Short‐term goal
b)
Long‐term goal
c)
Mid‐term goal
d)
This is not an example of a goal.
47.
14.  Which of the following is a SMART Goal?
a)
I want to be smarter
b)
I will get stronger this year
c)
I will increase my B in Math to an A by the end of the 9 weeks
d)
I will decrease my time in the mile run by next year.
48.
15. Which of the following is NOT a SMART GOAL?
a)
I will skydive before I get out of college
b)
I will visit the Taj Mahal by the time I'm 30 years old
c)
I will save $1,000.
d)
I will lose 20 lbs in 20 weeks.
49.

All are reasons why it is important to set goals EXCEPT...

a)

they motivate us

b)

they keep you from being focused

c)

they give your life direction

d)

they help you see progress

50.

Which goal is Specific?

a)

I'm going to do better in school.

b)

I'm going to be a better friend.

c)

I'm going to be successful.

d)

I am going to turn in all of my Math Homework

51.

A bank account that allows you to deposit/withdraw money at any time and earns interest is a

a)

money market fund

b)

money market deposit account

c)

regular savings account

d)

certificate of deposit

52.

The ability to quickly turn an investment into cash is called

a)

liquidity

b)

rate of return

c)

inflation risk

d)

interest

53.

You earn _______________ by saving money in a savings account.

a)

money

b)

interest

c)

awards

d)

trophies

54.

Bella kept $500 in a savings account for 1 year. At the end of the year she had $525. The extra $25 is _____.

a)

budget

b)

withdrawal

c)

interest

d)

passbook

55.
Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
a)
$7.50
b)
$26.25
c)
$87.5
d)
$262.50
56.

The interest rate on a CD is __________ than that on a regular savings account.

a)

Lower

b)

Higher

c)

Same

d)

Does not earn interest

57.
You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?
a)
88%
b)
20%
c)
12.5%
d)
10%
58.
When you buy a stock, you are buying a small piece of _______ in a company.
a)
debt
b)
ownership
c)
risk
59.

Why is it important to start investing as soon as possible?

a)

You take less risk when you are young, so money will be safe

b)

You have more time for your money to compound

c)

Investing is an easy way to make quick money

d)

Fees on investments are cheaper when you are younger

60.

It means that an asset is bought, or that money is put into a bank to get a future interest from it.

a)

Investment

b)

Business

c)

Equity

d)

Liability

61.

Lower interest rate compared to the other account


Choose the correct type of saving

a)

Savings account

b)

Fixed deposit account

c)

Current account

62.
A reason that people need to save and invest is to:
a)
Enable their money to make money
b)
Increase the money supply
c)
Be able to get anything they want
d)
Have an opportunity to talk with financial service providers
63.
Savings accounts and money-market accounts are most appropriate for:
a)
Long-term investments like retirement
b)
Earning a high rate of return
c)
Emergency funds and short-term goals
d)
Savings accounts and money-market accounts should be avoided since they carry high risk
64.
A savings account sold by an insurance company, designed to provide payments to the holder at specified intervals, usually after retirement.
a)
Money market
b)
Mutual fund
c)
Single stock
d)
Annuity
65.
Saving and investing have nothing to do with the amount of money you make.
a)
True
b)
False
66.
How much savings do you typically earn from a savings account?
a)
8-10%
b)
5-6%
c)
2-3%
d)
1-2%
67.

A key difference between saving and investing is

a)

Saving is for everyone, investing is for the wealthy

b)

Your money is insured when investing, it is not in savings

c)

Investing has a guaranteed return, savings does not

d)

Saving is for emergencies & goals, investing is for long-term wealth

68.

Why is it important to start investing as soon as possible?

a)

You take less risk when you are young, so money will be safe

b)

You have more time for your money to compound

c)

Investing is an easy way to make quick money

d)

Fees on investments are cheaper when you are younger

69.

Savings VS Investments

a)

Investments are riskier than Savings

b)

Investments are for short-term growth

c)

401K are for short-term growth

d)

Neither grows your money

70.

What is interest?

a)

Economy

b)

Debt

c)

An amount of $ an institution pays you for the use of your $

d)

The ability to save $

71.

Money put into an account intended for growth.

a)

assets

b)

liabilities

c)

simple interest

d)

investments

72.

David's Personal Finance class has been discussing the importance of understanding liquidity and he is trying to explain the term to another student. Which statement is the most correct description of liquidity?

a)

How quickly and easily an asset can be converted into cash

b)

The amount of savings available

c)

A measurement of how much a person or household owns once all debts have been paid

d)

The amount of money needed to pay for the necessities and comforts currently enjoyed

73.

When taking advantage of the time value of money, which is most likely to result in the largest return?

a)

Invest a large principal amount of money and then make no additional investments.

b)

Invest as long as possible and at the highest interest rate possible.

c)

Invest a small amount of money for a short period of time at the highest interest rate possible.

d)

Invest at a high interest rate because interest is the only factor that affects return.

74.

Which of the following statement is TRUE?

a)

Savings and investing is only for wealthy people.

b)

Savings and investing is important for people of all income levels.

c)

Savings is only for people with limited income and investing is for people with high levels of income.

d)

Savings is only for people with high levels of income and investing is for people with limited income.

75.

Saul put $1500 in his savings account at 4.5% interest. 6 years later, how much interest has he earned?

a)

$45

b)

$405

c)

$40,500

76.

What is the name of the website(used on money matters class), that you can use to calculate the future return of an investment

(a)  

77.

What is a name of an investment website(we used in class), that you can use to find out information about investments

(a)  

78.

What is the name of guy who learned about stocks in prison, and now teach people how to invest?

(a)  

79.

Besides money, what determines the type of financial goal you have, when you choose an saving account instead of a investment account.

(a)  

80.

Besides wanting to make your money grow, what would be the number one reason you would choose an investment account instead of a saving account

(a)  

81.

Money borrowed for a project where their price is a function of the law of supply and demand. People who buy these ______ are lending money for a project.

a)

Share

b)

Mutual funds

c)

Bonds

d)

Capital

82.

Price paid at the purchase of bonds

a)

Face Value

b)

Selling Price

c)

Cost Price

d)

Bond Price

83.

Bonds offer high returns?

a)

True

b)

False

84.

Bonds experience

a)

The same highs and lows as stock prices

b)

Don’t experience the same highs and lows as stock prices

c)

Have the same highs and lows as real estate

d)

Have the same highs and lows as mutual funds

85.

The Issuer must repay the money that you invested on the ___________:

a)

New Year's Day

b)

Your Birthday

c)

Maturity Date

d)

Annually

86.

What are bonds?

a)

Store discount coupons

b)

Issued when governments and companies raise money

c)

Issued when government and mutual funds raise money

d)

Used to pay for college

87.
The declared interest of the bond is called the ______ rate.
a)
bonded
b)
coupon
c)
agreed-upon
d)
declaration
88.
The value of investing is
a)
Meeting short-term goals
b)
Increasing assets and building wealth
c)
Creating a predictable source of income
d)
Creating future funds for college and retirement
89.

The main risk of holding bonds is default risk, which can be reflected by the credit rating of the bonds.

a)

True

b)

False

90.
"Bear Market"
a)
A period of time during which stock prices are falling
b)
A period of time during which stock prices are rising
c)
The network of structures that allows for the transfer of money between savers and investors
d)
Making high-risk investments with borrowed money
91.
The cost of borrowing money is referred to as 
a)
Interest 
b)
Annual Percentage Rate 
c)
Credit 
d)
Credit Line 
92.
The amount charged if your payment is received after the billing due date.
a)
late payment fee
b)
overdue fee
c)
withdrawal fee
d)
loser fee
93.
The maximum amount you are allowed to carry as a balance on the card
a)
interest
b)
ARP
c)
credit limit
d)
all of these
94.
One of the 5 C's of credit that shows a person's willingness to pay is
a)
capital
b)
collateral
c)
character
d)
capacity
95.
This is a fee that some, but not all, credit card issuers charge to use their credit card.
a)
APR
b)
annual fee
c)
monthly fee
d)
non-sufficient funds fee
96.
The amount you must pay on a credit card, based on a percentage of the outstanding balance.
a)
minimum fee
b)
minimum payment
c)
monthly statement
d)
minimum monthly interest charge
97.
Which one is considered a danger of using a credit card
a)
no cash needed
b)
leads to overspending
c)
convenient
d)
earns rewards
98.
One of the 5 C's of credit that shows one's ability to pay is
a)
capital
b)
collateral
c)
character
d)
capacity
99.
To build a good credit history, you should
a)
open as much credit as possible quickly
b)
use the maximum credit allowed on all your credit cards
c)
pay on time and as much of your balance as possible
d)
all of these
100.
Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.
a)
true
b)
false
101.
What is a credit score?
a)
A credit score is a three-digit numerical rating that reflects how likely you are to fail at paying your debts
b)
A five-digit numerical rating that reflects how likely you are to repay your debt. 
c)
A three-digit numerical rating that reflects how likely you are to repay your debt. 
d)
A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts
102.

Which of the following situations is an example of responsibly taking on debt?

a)

Get a credit card but don't use it to avoid more debt

b)

Spend up to your credit limit each month

c)

Become an authorized user on an adult's card

d)

Make only the minimum payment each month

103.

Which of the following is TRUE about finding errors on your credit report?

a)

You may have to file a dispute with each credit bureau

b)

You should wait until the end of the month before reporting

c)

Finding errors is common & is not a big deal

d)

Overlooked errors may result in you paying a fine

104.

How are a credit score and credit report related?

a)

A credit report is determined by the factors in your score

b)

A credit score is determined by the factors in your report

c)

Credit reports are less important than your credit score

d)

They're not related at all

105.

How can having a thin file impact you?

a)

You are likely to get lower interest rates on your loans

b)

You may be offered new lines of credit in the mail

c)

Lenders may decline your application for a loan

d)

Most landlords will approve you to rent an apartment or home

106.

What information can you find on a credit report?

a)

Your medical insurance information

b)

Your parents' and siblings' contact information

c)

Your education level

d)

Inquiries you've made on new lines of credit

107.

Which is a good definition of borrowing

a)

Borrowing is an important part of a responsible financial plan

b)

When you are borrowing, you are spending future income

c)

Borrowing strongly affects the present self but has less impact on future self.

d)

Borrowing builds a strong credit history because it requires indivisuals to file a credit report.

108.

How can you develop a positive credit history?

a)

Use only one type of credit account

b)

Pay cash for almost everything

c)

Open credit cards in your parents names

d)

Maintain a resonable amount of available credit

109.

Can you legally avoid paying interest on your charge cards?

a)

Yes if you can pay back all of you charges before the end of the grace period.

b)

No it is illegal to avoid interest

c)

Only if he uses his credit cards for balance transfers only.

d)

Yes, if he makes only the minimum payment.

110.

If you only pay the minimum on a credit card every month what will happen.

a)

You will avoid all interest charges

b)

Make the final amount you paid for your items much higher than you originally were charged for them

c)

Minimum payments will help you have a plan to pay it off in a decent amount of time.

d)

You will never pay the debt off

111.

This is judged upon your character, capacity, and capital.

a)

Your first loan

b)

Credit worthiness

c)

Character

d)

Capacity

112.

A credit score of 700 is

a)

Poor

b)

Good

c)

Fair

113.

How can a cardholder avoid paying interest on a credit card?

a)

Do not pay anything

b)

Pay the minimum payment after its due date

c)

Pay the balance in full every month

d)

Pay the minimum balance every month

114.
Grace Period - The time allowed to pay your balance without being charged a finance charge. Usually 25 to 30 days. 
a)
False
b)
True
115.
The three major institutions that keep credit records on individuals and businesses are _____, ______, and ______.
a)
Equifax, Experian, Trans Union
b)
Turbo Tax, Experian, Quicken Loans
c)
Equifax, Quicken Loans, H&R Block
d)
H&R Block, Turbo Tax, Trans Union
116.
You are able to obtain your free annual credit report every ____ months.
a)
18
b)
6
c)
12
d)
24
117.
FICO Scores are calculated from a lot of different credit data in your credit report and are scored from _____ to _____.
a)
100 to 1600
b)
300 to 850
c)
1 to 36
d)
1 to 2400
118.

You charge $500 on each of your two credit cards. One is American Express with an interest rate of 15.99%. The other is Chase Sapphire with an interest rate of 20.99%. Assuming that you are only making the minimum payment of $25 to each of the credit card companies, which card will you have paid more interest for?

a)

Chase Sapphire

b)

American Express

c)

You pay the same amount of interest for both

d)

All of the above

119.

What is an annual fee?

a)

The act of transferring money

b)

A fee charged by a card issuer for being a card holder.

c)

The days between the last statement and the current statement.

d)

A fee charged to a cardholder's account once a payment is late.

120.

What type of fee is given to a cardholder if they do not make the minimum monthly payment by the due date?

a)

Overtime fee

b)

Late- payment fee

c)

Misdemeanor

d)

Identify Theft fee

121.

Lois Lane's FICO score is a 658. What is her rating?

a)

very poor

b)

poor

c)

fair

d)

good

e)

excellent

122.

Which of the following is a type of loan or line of credit that establishes a credit limit, where funds can be borrowed and paid back over and over, so long as the total outstanding loan balance doesn't exceed the established credit limit.

a)

Revolving Credit

b)

Rewards Credit Card

c)

Secured Debt

d)

Installment Loan

123.

The total cost of borrowing money for one year, expressed as a rate, is called:

a)

Annual Percentage Rate

b)

Periodic Interest Rate

c)

Average Daily Balance

d)

Cost of Credit

124.

Which of the following statements is TRUE?

a)

If you have a low credit score, your mortgage interest rate will be lower. If you have a high credit score, your mortgage interest rate will be lower.

b)

If you have a low credit score, your mortgage interest rate will be lower. If you have a high credit score, your mortgage interest rate will be higher.

c)

If you have a low credit score, your mortgage interest rate will be higher. If you have a high credit score, your mortgage interest rate will be lower.

d)

If you have a low credit score, your mortgage interest rate will be higher. If you have a high credit score, your mortgage interest rate will be higher.

125.

You have a leaking roof and it costs $5,000.00 to repair it. The best type of credit to use is:

a)

Mortgage

b)

PayDay Loan

c)

Line of Credit

126.

If a line of credit has an interest rate of 6.9%, and a personal loan has an interest rate of 8.2%, which should i use to buy a new washer and dryer?

a)

Line of Credit

b)

Personal Loan

127.

A PayDay loan is:

a)

Borrowing money to purchase a house specifically.

b)

Borrow a fixed amount and pay back with interest over time.

c)

Short term loan with huge interest fee's.

d)

A loan only for cars.

128.

A Line of Credit is :

a)

Borrowing money to purchase a house specifically.

b)

Borrow a fixed amount and pay back with interest over time.

c)

Short term loan with huge interest fee's.

d)

An amount of money you can spend up to and pay back over time. The limit can increase or decrease as needed.

129.
___________ is a legal proceeding involving a person or business that is unable to repay outstanding debts.
a)
Repossession
b)
Foreclosure
c)
Default
d)
Bankruptcy
130.

Which of these are NOT a benefit to using savings instead of credit?

a)

NO interest

b)

NO Fees

c)

good credit built

d)

No monthly bill

131.

A person who is equally responsible for an account.

a)

spouse

b)

co-signer

c)

financial institution

d)

parents

132.

Any lending practice that imposes unfair or abusive loan terms on a borrower; Any practice that convinces a borrower to accept unfair terms through manipulation for a loan that a borrower doesn't need/cannot afford...

a)

Predatory Lending

b)

Truth in Lending Act of 1968

c)

Pawning personal items

d)

Garnishing

133.
Maintaining a reasonable amount of unused credit
a)
Positive Impact
b)
Negative Impact
134.

How many sections are on a credit report

a)

5

b)

4

c)

2

d)

1

135.

Match the following

a)

579

1.

Poor

b)

655

2.

Fair

c)

678

3.

Good

d)

743

4.

Very Good

e)

805

5.

Excellent

136.
The possibility of losing some or all of a particular investment.
a)
risk
b)
index
c)
industry
d)
profit
137.

This investment product is a way for companies to raise money for expansion, projects, etc. It allows investors to own a part of that company.

a)

Stocks

b)

Bonds

c)

Mutual Funds

138.

This investment product is often referred to as an IOU that a company or government owes its investors.

a)

Stock

b)

Bond

c)

Mutual Fund

139.

Price paid at the purchase of bonds

a)

Face Value

b)

Selling Price

c)

Cost Price

d)

Bond Price

140.

Bonds offer high returns?

a)

True

b)

False

141.

The Issuer must repay the money that you invested on the ___________:

a)

New Year's Day

b)

Your Birthday

c)

Maturity Date

d)

Annually

142.
As an investor, if you wanted to diversify your retirement portfolio, which financial product should you select?
a)
Stock
b)
Mutual fund
c)
Bond
d)
Bitcoin
143.

Why is compound interest better than simple interest?

a)

because it is more compact

b)

because you will develop more money over time than simple interest

c)

because you will develop less money over time than simple interest

d)

because simple interest will never make money

144.

Which statement describes SIMPLE interest?

a)

The same amount of interest every time

b)

Interest on interest

c)

The amount of interest goes up every time

145.
for-profit financial companies and can be large or small, national or local.
a)
Credit Union
b)
Bank
146.
not-for-profit financial cooperatives that are typically small and local.
a)
Credit Union
b)
Bank
147.
Anyone can join?
a)
Credit Union
b)
Bank
148.
Fewer Products
a)
Credit Union
b)
Bank
149.
Less Accessible 
a)
Credit Union
b)
Bank
150.
Fewer Fees, Better Rates
a)
Credit Union
b)
Bank
151.
Shareholder Owned
a)
Credit Union
b)
Bank
152.
FDIC insured for up to $250,000
a)
Credit Union
b)
Bank
153.
NCUA insured for up to $250,000
a)
Credit Union
b)
Bank
154.
Which is better a Credit Union or a Bank?
a)
Credit Union
b)
Bank
c)
Depends on your financial needs
155.

What is the differences between stocks and bonds?

a)

They are both investments.

b)

A stock is what corn grows on, and a bond gets you out of jail.

c)

Stock represents ownership, and bonds represents your word.

d)

A stock represents ownership, and bonds represents a loan.

156.

Dividends are_____?

a)

Money shareholders lose in stock.

b)

Money shareholders pay to buy stock.

c)

Stock that splits.

d)

Money shareholders received from stock profits.

157.

The current price of the stock is called the _____.

a)

Market Value

b)

Stock Split

c)

Commercial Terms

d)

Dividend

158.

Which type of stock provides voting rights?

a)

Corporate Bonds

b)

Short Selling

c)

Common Stock Shares

d)

Preferred Stock Shares

159.

Is investing a guaranteed way to make money?

a)

Yes

b)

No

160.

What is another name for investing in a bank or bank account

a)

A good idea

b)

Interest

c)

Interesting

d)

Interest earning

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