Chapter 18
A process used by individuals to manage limited income to meet personal unlimited needs and wants is called ____.
A. want management
B. money decisions
C. personal financial management
D. wealth management
C. personal financial management
The variety of products and services offered to customers by financial institutions are called ____.
A. loans
B. banking products and services
C. money managers
D. checking accounts
B. banking products and services
The possibility of loss, damage, or injury is ____.
A. theft
B. accidents
C. risk
D. catastrophes
C. risk
The work a person does regularly in order to earn money is called a ____.
A. skill
B. career
C. task
D. job
D. job
A document that profiles a person’s career goals, education, and work history is a(n) ____.
A. credit check
B. résumé
C. marketing plan
D. cover letter
B. résumé
A person who has the ability to understand basic topics related to finance is ____.
A. business savvy
B. accounting capable
C. financially capable
D. investment savvy
C. financially capable
A(n) ____ is a record of checks, ATM transactions, deposits, and charges on an account.
A. credit report
B. account portfolio
C. bank statement
D. savings certificate
C. bank statement
An attachment to an existing insurance policy to provide coverage for items not included on the original policy is a(n) ____.
A. placement
B. additions
C. endorsement
D. attachments
C. endorsement
A characteristic that an individual has developed naturally is a(n) ____.
A. skill
B. focus
C. aptitude
D. style
C. aptitude
An investigation into personal data about a job applicant is a(n) ____.
A. behavioral question
B. cover message
C. background check
D. employment verification
C. background check
The difference between a budgeted dollar amount and the actual dollar amount is a(n) ____.
A. profit
B. expense
C. variance
D. income
C. variance
A(n) ____ is a savings account that requires a deposit of a fixed amount of money for a fixed period of time or term.
A. mutual fund
B. certificate of deposit
C. high-yield savings account
D. interest-bearing savings account
C. high-yield savings account
A ____ insurance plan includes prescriptions, hospital stays, and inpatient tests.
A. coinsurance
B. regular medical
C. term life
D. whole life
B. regular medical
A(n) ____ is the mastery of a skill or the capacity to do something.
A. career
B. ability
C. aptitude
D. job
B. ability
A(n) ____ résumé lists information in reverse chronological order, with the most recent employer listed first.
A. standard
B. traditional
C. chronological
D. experience
C. chronological
A ____ is an amount that is subtracted from adjusted gross income, which further reduces taxable income.
A. tax return
B. tax deduction
C. tax credit
D. variance
B. tax deduction
An investment created by pooling the money of many people and investing it in a collection of securities is called a ____.
A. savings account
B. mutual fund
C. personal investment plan
D. checking account
B. mutual fund
An insurance policy that covers loss amounts that are higher than those covered by primary policies is a(n) ____ policy.
A. medical
B. umbrella
C. risk
D. property damage liability
B. umbrella
Principles and beliefs that a person considers important are called ____.
A. ethics
B. values
C. principles
D. thoughts
B. values
A ____ is a form with spaces for contact information, education, and work experience.
A. cover message
B. job application
C. résumé
D. marketing plan
B. job application
Tax returns must be filed no later than ____ each year.
A. December 31
B. January 15
C. June 1
D. April 15
D. April 15
A(n) ____ is a signature on the back of a check.
A. authorization
B. endorsement
C. payee
D. executor
B. endorsement
____ insurance provides coverage for liability and damage to property under certain conditions.
A. Property
B. Homeowners
C. Renters
D. No-fault
B. Homeowners
Financial aid that may be based on financial need, merit, or an accomplishment is a(n) ____.
A. loan
B. scholarship
C. internship
D. apprenticeship
B. scholarship
A(n) ____ is a selection of materials that show an individual’s qualifications, skills, and talents that support his or her career goal.
A. résumé
B. portfolio
C. interview
D. application
B. portfolio