Budget and Saving
Credit and Debt
Banking and Taxes
Careers and Education
Insurance and Investments
100

What does a budget show you?

  • Correct answer: How much money you plan to come in and go out during the monthHow much money you plan to come in and go out during the month
100

How do banks and lenders utilize credit scores?

To estimate the likelihood that someone is able to repay debt

100

What must every American who earns an income file each year?

  • Correct answer: A federal tax returnA federal tax return
100

Careers in the _____ field are likely to pay among the highest salaries.

  • Correct answer: STEM
100

What is true about insurance deductibles and premiums?

  • Correct answer: Higher deductible plans usually carry lower premium costs
200

What kind of money counts as income?

All money that you receive, including money from your job and gifts like birthday money

200

Where do credit card companies make the most profit?

  • Correct answer: Charging interest to customers who only pay part of their monthly debtCharging interest to customers who only pay part of their monthly debt
200

What is the main IRS form that most Americans use to file their taxes?

  • Correct answer: Form 1040
200

Which is one advantage of learning a trade compared to attending a four-year college?

  • Correct answer: Learning a trade typically requires less time in school
200

What does life insurance guarantee your loved ones get when what happens?

  • Correct answer: Pass away
300

Which of the following is the first step to creating a budget?

Listing income sources and amounts

300

What is the best way to avoid falling into credit card debt?

  • Correct answer: Pay off credit card debt in full each month to avoid paying interestPay off credit card debt in full each month to avoid paying interest
300

 It is recommended to keep filed taxes for at least three years in case the IRS decides to take what action?

  • Correct answer: Audit
300

Describe an entrepreneur?

  • Correct answer: Starts and runs their own business
300

Medicare and Medicaid are examples of what?

  • Correct answer: Government programs for public health insurance
400

Where is the best place to store your emergency fund money?

A savings account or money market account

400

Which of the following occurs when someone steals and uses your debit or credit card information?

  • Correct answer: Fraud
400

What is the main difference between banks and credit unions?

  • Correct answer: Credit unions are owned by their members
400

________ is an example of a soft skill?

  • Correct answer: Being a team player
400

Jamal bought mutual fund shares for $400 and sold them for $520. What did he earn?

  • Correct answer: A capital gain of $120
500

What does living "paycheck to paycheck" mean?

A person’s income is devoted to expenses, leaving little to no money put into savings

500

Which action is prohibited under the Fair Debt Collections Practices Act (choose the best match from the list)?

  • Correct answer: A debt collector calling a consumer multiple times in a short time frame
500

The FDIC and NCUA keep your money in the bank insured up to how much per account?

  • Correct answer: $250,000
500

What question should you ask before you start applying to schools?

  • Correct answer: "Do I need this degree for my career?"
500

What is the benefit of a Roth IRA?

  • Correct answer: During retirement, withdrawals are tax freeDuring retirement
M
e
n
u