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WorksheetsQ3 Key Vocabulary
Total questions: 82
Worksheet time: 41mins
Name
Class
Date
1.
The value of property you possess after deducting your debts.
a)
line of credit
b)
capital
c)
credit history
d)
credit
2.
A loan for a specific amount that must be repaid in full, including all finance charges, by a stated due date.
a)
creditor
b)
minimum payment
c)
credit report
d)
closed-end credit
3.
Property pledged to assure repayment of a loan.
a)
credit score
b)
open-end credit
c)
collateral
d)
debtor
4.
The use of someone else's money, borrowed now with the agreement to pay it back later.
a)
credit
b)
billing statement
c)
credit worthy
d)
finance charge
5.
A person or business that loans money to others.
a)
creditor
b)
capacity
c)
capital
d)
grace period
6.
A person who borrows money from others.
a)
character
b)
debtor
c)
closed-end credit
d)
line of credit
7.
The total dollar amount of all interest and fees you pay for the use of credit.
a)
credit bureau
b)
finance charge
c)
collateral
d)
minimum payment
8.
A timeframe within which you may pay your current balance in full and incur no finance charges.
a)
credit
b)
credit history
c)
grace period
d)
open-end credit
9.
A preestablished amount that can be borrowed on demand with no collateral.
a)
creditor
b)
credit report
c)
line of credit
d)
billing statement
10.
The least amount you may pay each month under your credit agreement.
a)
capacity
b)
credit score
c)
debtor
d)
minimum payment
11.
A credit arrangement that enables a borrower to use credit up to a stated limit.
a)
character
b)
credit worthy
c)
finance charge
d)
open-end credit
12.
An itemized bill showing charges, credits, and payments posted to your account during the billing period.
a)
billing statement
b)
capital
c)
grace period
d)
credit bureau
13.
1. The competence (legal ability) of parties to enter into a contract. 2. The financial ability to repay a loan with present income.
a)
capacity
b)
closed-end credit
c)
line of credit
d)
credit history
14.
A responsible attitude toward honoring obligations, often judged on evidence in the person's credit history.
a)
credit report
b)
collateral
c)
minimum payment
d)
character
15.
A business that gathers, stores, and sells credit information to other businesses.
a)
credit score
b)
credit
c)
open-end credit
d)
credit bureau
16.
The complete record of your borrowing and repayment performance.
a)
billing statement
b)
creditor
c)
credit history
d)
credit worthy
17.
A written statement of a consumer's credit history.
a)
capacity
b)
debtor
c)
credit report
d)
capital
18.
The total of assigned points based on several factors that tells potential creditors the likelihood that you will repay debt as agreed.
a)
finance charge
b)
credit score
c)
character
d)
closed-end credit
19.
A determination that you are a good credit risk.
a)
grace period
b)
credit worthy
c)
credit bureau
d)
collateral
20.
An amount typically charged by an ATM that does not belong to your own bank.
a)
ATM Fee
b)
Overdraft Protection
c)
Electronic Funds Transfer (EFT)
d)
Share Account
21.
The process of matching your checkbook register with the bank statement.
a)
Bank Reconciliation
b)
Safe Deposit Box
c)
Joint Account
d)
Special Account
22.
A booklet used to record checking account transactions.
a)
ATM Fee
b)
Checkbook Register
c)
Safe Deposit Box
d)
Canceled Check
23.
A bank card that deducts money from a checking account almost immediately to pay for purchases.
a)
Bank Reconciliation
b)
Debit Card
c)
Share Account
d)
Cashier's Check
24.
A computer-based system that enables you to move money from one account to another without writing a check or exchanging cash.
a)
Standard Account
b)
Cashier's Check
c)
Electronic Funds Transfer (EFT)
d)
Check Float
25.
An overdraft fee assessed when you spend more than you have in your account and don't have overdraft protection.
a)
Bank Reconciliation
b)
Checkbook Register
c)
NSF Fee
d)
Demand Deposit
26.
A check written for more money than your account contains.
a)
Electronic Funds Transfer (EFT)
b)
Debit Card
c)
Canceled Check
d)
Overdraft
27.
A bank service that covers checks even if you have insufficient funds in your checking account.
a)
Joint Account
b)
Demand Deposit
c)
Cashier's Check
d)
Overdraft Protection
28.
Items of value that a person owns.
a)
Assets
b)
Variable Expenses
c)
Wealth
d)
Cash Surplus
29.
A spending and saving plan based on your expected income and expenses.
a)
Budget
b)
Warranty
c)
Acceptance
d)
Consideration
30.
When estimated expenses are greater than estimated income.
a)
Cosigner
b)
Acceptance
c)
Budget
d)
Cash Deficit
31.
When estimated income is greater than estimated expenses.
a)
Counteroffer
b)
Assets
c)
Capacity
d)
Cash Surplus
32.
The money you have left to spend or save after taxes and other deductions (required and optional) are taken.
a)
Cosigner
b)
Consideration
c)
Disposable Income
d)
Negotiable
33.
Costs that do not change from month to month.
a)
Disposable Income
b)
Cosigner
c)
Fixed Expenses
d)
Notarized
34.
Money or debts owed to others.
a)
Counteroffer
b)
Liabilities
c)
Financial Plan
d)
Offer
35.
The difference between assets and liabilities.
a)
Financial Plan
b)
Net Worth
c)
Liabilities
d)
Statute of Frauds
36.
A computer program that organizes data in columns and rows and performs calculations using the data.
a)
Spreadsheet
b)
Negotiable
c)
Notarized
d)
Wealth
37.
Costs that vary in amount and type, depending on the choices you make.
a)
Variable Expenses
b)
Notarized
c)
Spreadsheet
d)
Assets
38.
The accumulation of assets.
a)
Spreadsheet
b)
Wealth
c)
Variable Expenses
d)
Capacity
39.
The knowledge and skills acquired from working in a career field.
a)
Intermediate Goal
b)
Experience
c)
References
d)
Intermediate Goal
40.
A desired end toward which efforts are directed.
a)
Resume
b)
Long-Term Goal
c)
Goal
d)
Long-Term Goal
41.
Actively seeking new knowledge, skills, and experiences that will add to your professional and personal growth throughout your life.
a)
Short-Term Goal
b)
Reference Letter
c)
Lifelong Learning
d)
Reference Letter
42.
A goal you wish to accomplish in the next few months or years.
a)
References
b)
References
c)
Experience
d)
Intermediate Goal
43.
A goal you wish to achieve in five or ten years or longer.
a)
Resume
b)
Resume
c)
Goal
d)
Long-Term Goal
44.
A statement attesting to your character, abilities, and experience, written by someone who can be relied upon to give a sincere report.
a)
Reference Letter
b)
Short-Term Goal
c)
Lifelong Learning
d)
Short-Term Goal
45.
People who have known you for at least a year and can provide information about your skills, character, and achievements.
a)
References
b)
Experience
c)
Intermediate Goal
d)
Experience
46.
A document that describes your work experience, education, abilities, interests, and other information that may be of interest to an employer.
a)
Goal
b)
Goal
c)
Long-Term Goal
d)
Resume
47.
A goal you expect to reach in a few days or weeks.
a)
Lifelong Learning
b)
Lifelong Learning
c)
Reference Letter
d)
Short-Term Goal
48.
Forms of employer compensation in addition to pay.
a)
Compressed Workweek
b)
Bargaining
c)
Benefits
d)
Flextime
49.
A work schedule that fits the normal 40-hour workweek into less than five days.
a)
Gross Pay
b)
Bonus
c)
Compressed Workweek
d)
Bargaining
50.
The total amount you earn before deductions are subtracted.
a)
Compressed Workweek
b)
Gross Pay
c)
Benefits
d)
Job Rotation
51.
A form of compensation that encourages employees to strive for higher levels of performance.
a)
Flextime
b)
Incentive Pay
c)
Benefits
d)
Seniority
52.
Time worked beyond regular hours.
a)
Overtime
b)
Profit Sharing
c)
Job Rotation
d)
Salary
53.
A fixed annual amount of gross pay.
a)
Salary
b)
Seniority
c)
Lobbying
d)
Job Rotation
54.
The point at which employees have full rights to their retirement accounts.
a)
Wage
b)
Vested
c)
Overtime
d)
Flextime
55.
A fixed hourly rate earned by employees.
a)
Salary
b)
Wage
c)
Profit Sharing
d)
Gross Pay
56.
Gross income less adjustments.
a)
Gross Income
b)
Taxable Income
c)
Adjusted Gross Income
d)
Tax Bracket
57.
An examination of income tax returns by the IRS.
a)
Itemized Deductions
b)
Voluntary Compliance
c)
Audit
d)
Tax Credit
58.
Available only to those who know they will not earn enough in one year to owe income tax.
a)
Tax Evasion
b)
Adjusted Gross Income
c)
Progressive Tax
d)
Exempt Status
59.
An amount you may subtract from your income for each person who depends on your income to live.
a)
Tax Liability
b)
Audit
c)
Proportional Tax
d)
Exemption
60.
Your tax-filing group based on your marital status as of the last day of the tax year.
a)
Filing Status
b)
Exempt Status
c)
Regressive Tax
d)
Taxable Income
61.
All of the taxable income you receive during the year.
a)
Gross Income
b)
Exemption
c)
Tax Bracket
d)
Voluntary Compliance
62.
Expenses you can subtract from adjusted gross income to determine your taxable income.
a)
Adjusted Gross Income
b)
Filing Status
c)
Tax Credit
d)
Itemized Deductions
63.
A tax that takes a larger share of one's income as the amount of income grows.
a)
Audit
b)
Gross Income
c)
Tax Evasion
d)
Progressive Tax
64.
A tax for which the rate stays the same regardless of one's income.
a)
Tax Liability
b)
Itemized Deductions
c)
Proportional Tax
d)
Exempt Status
65.
A tax that takes a smaller share of one's income as the amount of income grows.
a)
Taxable Income
b)
Progressive Tax
c)
Regressive Tax
d)
Exemption
66.
An income range that a tax rate is applied to.
a)
Proportional Tax
b)
Tax Bracket
c)
Voluntary Compliance
d)
Filing Status
67.
A reduction of taxes owed.
a)
Regressive Tax
b)
Tax Credit
c)
Adjusted Gross Income
d)
Gross Income
68.
Willful failure to pay taxes.
a)
Tax Evasion
b)
Tax Bracket
c)
Audit
d)
Itemized Deductions
69.
The amount of total tax you owe on a year's income.
a)
Tax Liability
b)
Tax Credit
c)
Exempt Status
d)
Progressive Tax
70.
The income on which you will pay tax.
a)
Tax Evasion
b)
Taxable Income
c)
Exemption
d)
Proportional Tax
71.
A system in which all citizens prepare and file tax returns on their own.
a)
Tax Liability
b)
Voluntary Compliance
c)
Filing Status
d)
Regressive Tax
72.
The actual interest rate an account pays, stated on a yearly basis with the compound interest included.
a)
Grant
b)
Subsidized Loan
c)
Annual Percentage Yield (APY)
d)
Scholarship
73.
Interest paid on the original principal plus accumulated interest.
a)
Interest
b)
Unsubsidized Loan
c)
Compound Interest
d)
Subsidized Loan
74.
Money in the forms of student loans, grants, or work-study programs that a student may receive to help pay for their education.
a)
Unsubsidized Loan
b)
Work-Study
c)
Liquidity
d)
Financial Aid
75.
A form of educational funding that is awarded based on financial need and that does not have to be repaid.
a)
Work-Study
b)
Annual Percentage Yield (APY)
c)
Principal
d)
Grant
76.
Earnings on principal.
a)
Interest
b)
Compound Interest
c)
Scholarship
d)
Annual Percentage Yield (APY)
77.
A measure of how quickly you can get your cash without loss of value.
a)
Liquidity
b)
Financial Aid
c)
Subsidized Loan
d)
Compound Interest
78.
1. The amount of money you deposit into a savings account. 2. The amount borrowed on which the borrower pays interest.
a)
Financial Aid
b)
Grant
c)
Unsubsidized Loan
d)
Principal
79.
A cash allowance awarded to a student to help pay education costs.
a)
Grant
b)
Interest
c)
Work-Study
d)
Scholarship
80.
A form of federal financial aid for which you pay no interest until after you have completed your education, or are no longer enrolled in school.
a)
Annual Percentage Yield (APY)
b)
Liquidity
c)
Subsidized Loan
d)
Interest
81.
A form of federal financial aid that starts accruing interest as soon as you use it to pay for tuition or other education costs.
a)
Compound Interest
b)
Principal
c)
Unsubsidized Loan
d)
Liquidity
82.
A program that permits students to work at the campus or other college location to earn money.
a)
Scholarship
b)
Work-Study
c)
Financial Aid
d)
Principal
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