Personal Finance Final Exam Project Quiz

32 Questions | By Eochsbusiness | Updated: Mar 21, 2022 | Attempts: 228

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Personal Finance Final Exam Week 10 Project.

Questions and Answers

1.

What is the difference between a job and a career?
- A.
  
  Jobs are better then careers.
- B.
  
  Careers are easier then jobs.
- C.
  
  Careers provide funds to meet an individual’s needs while jobs are considered less important.
- D.
  
  Jobs provide income to meet an individual’s basic needs while careers are considered professions that are pursued as your life’s work.
2.

Furthering your education results in a higher pay at a job.
- A.
  
  True
- B.
  
  False
3.

A plastic card that allows the user to pay bills by withdrawing and paying directly from a checking account is called a ____________.
4.

Which of the following is NOT an example of a pay deduction.
- A.
  
  Federal Tax
- B.
  
  State Tax
- C.
  
  United States Tax
- D.
  
  Social Security
5.

A _________ is a statement about what a person wants to be or do that is attained by taking certain steps to achive it.
6.

What is an example of a long term goal?
- A.
  
  Being a Grandparent.
- B.
  
  Getting an A on a test.
- C.
  
  Buying a car.
- D.
  
  Becoming Student Council President.
7.

Rate of return is how fast money grows in a savings account or investment.
- A.
  
  True
- B.
  
  False
8.

A certificate sent to a person by the bank in which they are depositing money in an account for a specified period of time is a ___________________.
9.

Buying stocks allows you to...
- A.
  
  Become the CEO of a company.
- B.
  
  Donate money to companies.
- C.
  
  Own part of a company.
- D.
  
  Create a savings account.
10.

Which is true about credit cards?
- A.
  
  They are an example revolving credit.
- B.
  
  They promote impulse spending.
- C.
  
  They are convenient for making purchases.
- D.
  
  All of the above.
11.

Revolving credit is a line of credit that is unlimited and never needs to be payed.
- A.
  
  True
- B.
  
  False
12.

Sometimes, always or never: Credit Cards _________ have interest rates on purchases.
13.

What happens if you don't pay your credit card bill by the due date?
- A.
  
  You are suspended from using your credit card.
- B.
  
  You pay late fees.
- C.
  
  Your credit card is taken away.
- D.
  
  Nothing.
14.

What is an advantage of shopping online?
- A.
  
  Its fun.
- B.
  
  You can shop 24 hours a day.
- C.
  
  Its convenient.
- D.
  
  All of the above.
15.

The buyer’s payment is not sent to the seller until the merchandise is received and approved.
- A.
  
  True
- B.
  
  False
16.

____________ insurance protects you when others are injured due to something you did or didnt do.
17.

The fee paid for insurance protection is a...
- A.
  
  Premium
- B.
  
  Deductible
- C.
  
  Claim
- D.
  
  Fee Rate
18.

A claim is the percentage of a loss that is not insured.
- A.
  
  True
- B.
  
  False
19.

Declaring bankruptcy should be your last resort when in debt.
- A.
  
  True
- B.
  
  False
20.

Which is NOT a way to manage high debt.
- A.
  
  Credit Counseling
- B.
  
  Refinancing debt
- C.
  
  Getting a Home Equity Loan
- D.
  
  Stop Paying Bills to Save Money
21.

Being Bankrupt means....
22.

Identity theft is when someone uses your personal information with your permission.
- A.
  
  True
- B.
  
  False
23.

Someone knowingly deceives you for personal gain is called ___________.
24.

What is NOT an example how theives steal your identity.
- A.
  
  Stealing bank statements.
- B.
  
  Taking your school ID card.
- C.
  
  Changing Your Address
- D.
  
  Hacking you computer
25.

All donations can be deducted from your taxes.
- A.
  
  True
- B.
  
  False