WorksheetsIFT - 1st Semester Review -
Total questions: 40
Worksheet time: 20mins
What is the primary role of the Federal Reserve?
Collect federal taxes
Regulate the stock market
Control monetary policy and manage inflation
Issue credit cards
Which tool does the Federal Reserve most commonly use to influence interest rates?
Income tax rates
Open market operations
Federal budget approvals
Trade tariffs
A personal budget is best described as:
A loan agreement
A record of past spending only
A plan for managing income and expenses
A savings account
Which expense is typically considered a fixed expense?
Entertainment
Groceries
Rent
Dining out
What is the main purpose of a checking account?
Long-term investing
Daily transactions and payments
Retirement planning
Insurance coverage
What does FDIC insurance protect?
Stock investments
Cryptocurrency holdings
Bank deposits up to a certain limit
Credit card balances
Which type of bank focuses primarily on individuals and small businesses?
Central bank
Investment bank
Retail (commercial) bank
Hedge fund
What happens when inflation increases?
Purchasing power increases
Money buys fewer goods and services
Interest rates always fall
Savings grow faster automatically
Which financial habit best supports long-term financial health?
Using only credit
Spending all income
Paying yourself first
Avoiding savings accounts
Which document outlines expected income and expenses over a period of time?
Credit report
Budget
Balance sheet
Loan agreement
What does the New York Stock Exchange primarily facilitate?
Currency exchange
Trading of stocks and securities
Insurance underwriting
Loan approvals
A stock represents:
A loan to a company
Ownership in a company
A fixed interest payment
A government bond
What is a dividend?
A trading fee
A company’s profit shared with shareholders
A stock price increase
A bond repayment
What does FOREX stand for?
Foreign Export Exchange
Federal Exchange System
Foreign Exchange Market
Financial External Rates
The FOREX market primarily trades:
Stocks
Bonds
Currencies
Commodities only
Bonds are best described as:
Ownership stakes
Loans made to governments or companies
Insurance policies
Payment apps
Which bond is generally considered the lowest risk?
Corporate bond
Junk bond
Government (Treasury) bond
Crypto-backed bond
What happens to bond prices when interest rates rise?
Prices increase
Prices decrease
Prices stay the same
Bonds convert to stocks
A diversified portfolio helps investors primarily by:
Eliminating all risk
Increasing taxes
Reducing overall risk
Guaranteeing profits
Which currency is most commonly used as the global reserve currency?
Euro
Japanese Yen
British Pound
U.S. Dollar
InsurTech refers to:
Traditional insurance paperwork
Technology-driven innovation in insurance
Government-issued insurance
Banking compliance laws
Which technology is commonly used by InsurTech companies to assess risk?
Artificial intelligence and data analytics
Paper records
Manual underwriting only
Cash payments
Usage-based insurance is most commonly associated with:
Health insurance
Life insurance
Auto insurance
Property insurance
What is a deductible?
Monthly premium
Amount paid by insurer first
Amount paid by policyholder before coverage applies
Tax credit
Which InsurTech benefit improves customer experience the most?
Slower claim processing
Paper-only claims
Automated claims and digital access
Higher premiums
Crowdfunding is best defined as:
Borrowing from a bank
Raising small amounts of money from many people
Government grants only
Venture capital funding
Which type of crowdfunding offers ownership in a company?
Donation-based
Reward-based
Equity crowdfunding
Peer-to-peer lending
Kickstarter is an example of which crowdfunding type?
Equity
Debt
Reward-based
Insurance-based
Peer-to-peer lending connects:
Banks to governments
Borrowers directly with lenders
Insurers to investors
Retailers to customers
Crowdfunding is especially helpful for:
Large corporations only
Early-stage startups and entrepreneurs
Central banks
Tax collection
A digital wallet allows users to:
Print money
Store and transfer payment information digitally
Issue loans
Trade bonds
Which is an example of a peer-to-peer (P2P) payment?
Writing a check
Mobile money transfer apps
Wire transfer only
Cash withdrawal
What is a payment gateway?
A physical ATM
A system that authorizes digital payments
A bank branch
A type of cryptocurrency
Contactless payments often use which technology?
Magnetic strips
NFC (Near Field Communication)
Paper receipts
Manual entry
Which payment method typically settles transactions the fastest?
Paper check
ACH transfer
Real-time digital payments
Mailed money order
What is one major advantage of digital payments?
Slower processing
Increased fraud risk only
Convenience and speed
No transaction records
FinTech companies often disrupt traditional finance by:
Eliminating technology
Increasing costs
Improving efficiency and access
Avoiding regulation
What does KYC stand for in financial services?
Keep Your Cash
Know Your Customer
Key Yield Curve
Known Yield Contract
Why is cybersecurity critical in FinTech?
To slow transactions
To protect sensitive financial data
To increase fees
To limit access
Which trend best represents the future of FinTech?
Paper-based banking
Reduced digital access
Increased automation and data-driven finance
Fewer financial products
