WorksheetsFinal Exam Review
Total questions: 27
Worksheet time: 14mins
This type of account is connected to your debit card. Fill in the blank: ________
Checking Account
Savings Account
Credit Account
Loan Account
A monthly fee that some banks charge to keep your account open. Fill in the blank: ________
Maintenance fee
Overdraft fee
ATM withdrawal fee
Deposit slip
This federal insurance program protects the money you deposit in. Fill in the blank: ________
FDIC
FEMA
IRS
SSA
This stock market index represents 500 of the largest companies listed on stock exchanges in the United States. Fill in the blank: ________
S&P 500
Dow Jones Industrial Average
NASDAQ Composite
Russell 2000
This investment vehicle automatically adjusts your investments based on a planned retirement year. Fill in the blank: ________
Target Date Fund
Index Fund
Money Market Account
Certificate of Deposit
This strategy involves spreading investments across different assets to reduce risk. Fill in the blank: ________
Diversification
Speculation
Concentration
Leverage
The amount borrowed by someone for a loan. Fill in the blank: ________
Principal
Interest
Dividend
Deposit
An initial payment made when buying something expensive, such as a car or house. Fill in the blank: ________
Down Payment
Installment
Mortgage
Lease
The lowest amount you can pay on your monthly credit card bill to remain in good standing. Fill in the blank: ________
Minimum Payment
Credit Limit
Annual Fee
Interest Charge
A record of how you've managed loans and payments over time. Fill in the blank: ________
Credit Report
Bank Statement
Income Tax Return
Loan Agreement
This payment method can help you build credit and requires a cash deposit. Fill in the blank: ________
Secured Credit Card
Debit Card
Prepaid Card
Gift Card
This strategy for debt repayment starts with the highest interest-rate debts. Fill in the blank: ________
Avalanche / high-rate method
Snowball method
Ladder method
Consolidation method
Who is one person that might ask to see your credit report?
Credit card companies
Telecommunication companies
Public utilities
Insurance companies
Employers
What is one way to reduce the amount of overall interest you pay on a loan?
Make a higher down payment
Choose a shorter loan term
Find a lower interest rate
Make additional payments above the minimum
Paying for College: Money you borrow for college and need to repay.
Student Loans
Scholarships
Grants
Work-Study
Paying for College: Sticker price - grants/scholarships = ________________.
Net Price
Loan Amount
Tuition Fee
Gross Price
Paying for College: The form submitted by students to determine their eligibility for financial aid.
FAFSA
SAT
ACT
CSS Profile
This type of car insurance covers you if you cause injuries or property damage for someone else.
Liability coverage
Collision coverage
Comprehensive coverage
Personal injury protection
Insurance: If you want a lower deductible and higher coverage limit, you will pay a higher monthly _______.
Premium
Deductible
Claim
Policy
Insurance companies use this strategy to afford large payouts by collecting premiums from a large group.
Risk Pooling
Underwriting
Deductible
Asset Allocation
What is the typical deadline for Americans to file their taxes?
March 1st
April 15th
May 31st
October 15th
What is the extended deadline for Americans to file their taxes if they get an extension?
April 15th
June 1st
October 15th
December 31st
Employees receive this form each January that summarizes their earnings and taxes for the previous year. Fill in the blank: ________
W-2
1099
W-4
1040
Fill this form out when you start a new job to determine how much your employer withholds in taxes. Fill in the blank: ________
W-4
1040
I-9
W-2
Which of the following is a mandatory contribution that shows up on a paycheck?
401(k) retirement contributions
Health insurance premiums
FICA: Social Security and Medicare
Wage garnishment
Which of the following is a voluntary contribution that may show up on a paycheck?
FICA: Social Security and Medicare
Income taxes (federal, state, local)
401(k) retirement contributions
Wage garnishment
Which of the following is a less common deduction that may appear on a paycheck?
Health insurance premiums
Wage garnishment
FICA: Social Security and Medicare
Income taxes (federal, state, local)
