Earn
What will a salaried employee always have?
An employment contract
Erica's employer offers to match her 401(k) contributions up to 4% of her pay. What should she do?
Try to contribute at least 4% of her pay to take advantage of the full employer match.
What is the best way to defend against fraudulent charges to your credit card?
Review your credit card statement every month.
True or false: Credit unions operate as non-profit organizations.
True
What form does an employee use to determine how much should be withheld from their pay for income taxes?
W-4
If Jonah wasn't saving his paycheck for college, he would use it to buy a used car. What concept does the used car represent for Jonah
opportunity cost
What is a definition of investing?
Putting aside money to make more
What should you do if you are constantly forgetting log-ins and passwords for important accounts?
Use a reputable company that provides password management services.
What would a FICO score of 810 be considered?
Excellent
What important information does a Form W-2 provide?
How much was withheld from your pay for taxes.
What is a benefit of being an employee paid commission?
Excellent job performance is rewarded with higher pay.
What investment has both the highest potential risk and the highest potential reward?
Common stocks
What is a recommended procedure to safeguard personal information?
Change passwords of important accounts frequently
Why do credit unions tend to have lower fees and pay higher rates of return on deposits than commercial banks?
Credit unions do not have to generate profits for their shareholders.
What is the standard form individuals use to file their federal income tax?
1040
What is a hard skill?
Specific competencies, skills, knowledge, and abilities needed to perform a specific task or role.
How is a mutual savings bank different from a commercial bank?
Mutual savings banks are owned by their depositors.
True or false: your social security should be used as a username
False
Why is it important to keep track of the credit utilization on your credit cards?
High credit card utilization can lead to a reduction in a cardholder's credit score.
What would be an example of a tax designed to influence behavior?
Excise tax
Assuming the same rate of pay, which frequency of pay is best for managing your cash flow?
Weekly
What will automatically result in you earning positive points?
receiving an employer 401(k) match
How are financial services websites offering an additional level of security at login?
Sending a security code to the account holder's cell phone that must be used at log-in.
How does your credit score affect your vehicle insurance in most states?
The higher your credit score, the lower your insurance premium.
What tax can be levied on a person's assets after they die?
Estate tax