S.M.A.R.T. goals are short, measurable, achievable, reasonable, and timely
What is false
100
Payments that do not vary from month to month are ____________ expenses.
A. fixed
B. usage
C. variable
D. luxury
What is A.) Fixed
100
APR stands for this
What is Annual Percentage Rate
100
Short Term Goals
Medium-Term Goals
Long-Term Goals
What is Now-2 years,
2-5 years,
5+ years
200
"The study of personal and family resources considered important in achieving financial success; thus, it involves how people spend, save, protect, and invest their financial resources."
What is personal finance
200
Learning the language of money is important because you should not depend on financial planners to manage your money.
What is true
200
A common deduction from a person's paycheck is for:
A. interest.
B. taxes.
C. rent.
D. unemployment.
E. current liabilities.
What is B.) Taxes
200
Opportunity Cost
What is the loss of potential gain from other alternatives when one alternative is chosen
200
Purpose for the Rule of 72
What is to find out how long it will take for your money to double at a particular interest rate
300
The process of reducing risk by spreading investment assets among several investments.
What is diversification
300
The planning to buy a house is an example of an intangible goal
What is false
300
) The ______________ property tax is based on the value of land and buildings at some point in time.
A. personal
B. real estate
C. direct
D. proportional
E. regressive
What is B.)
300
Disposable income is this
What is the income received after taxes and all other employer withholdings
300
Additional Fees associated with buying a car
What is dealer fees, insurance, tax, and registration
400
This is a loan that uses your home as collateral
What is a mortgage
400
A down payment is what you pay post-purchasing a home
What is false
400
A budget deficit would result when a person's or family's:
A. actual expenses are less than planned expenses.
B. actual expenses are greater than planned expenses.
C. actual expenses equal planned expenses.
D. assets exceed liabilities.
What is B)
400
Finance Charge
What is the total dollar amount paid to use credit, including interest costs, service charges, and related mandatory insurance premiums.
400
Three major national credit bureaus
What is Equifax,
Experian,
TransUnion
500
When expenses exceed income
What is a deficit
500
Bankruptcy is the best way to handle your debts
What is false
500
Liabilities are amounts representing:
A. debts.
B. items of value.
C. living expenses.
D. taxable income.
E. current assets.
What is A.) Debts
500
A beneficiary
What is the person who will receive the proceeds of a life insurance policy in the event of the death of the insured person.
500
When analyzing a paystub you will see these deductions from your gross pay
What is Federal Tax,
State Tax,
Social Security,
Medicare,