A budget worksheet records your income and expenses for what amount of time?
Month
100
What does NYSE stand for?
New York Stock Exchange
100
What are the two types of IRA plans?
Traditional and Roth
100
What account is best used for immediate withdrawals?
Savings
200
Who owns a credit union?
The members
200
Explain the different between flexible and fixed expenses.
Fixed expenses do not change from month to month and are an expense you have to pay
Flexible expenses vary and you have the option to spend the money
200
NASDAQ is located where?
Online
200
True or False: A Roth IRA is not tax-deferred
True
200
True or False: A Money Market Account have a fixed interest rate.
False
300
What type on bank focuses on providing real estate loans?
Savings and Loan Associates
300
If my assets total $100,000 and my liabilities total $183,750, what is my net worth?
-83,750
300
True or False: Government bonds are a very risky investment
False.
300
What is a mutual fund?
A portfolio of investments
300
Which type of savings account allows you to write checks?
Money Market
400
Accounts are insured by whom? (full name please)
Federal Deposit Insurance Corporation
400
Calculate the amount you would have in your savings account after 3 years if you deposit $4500.00 into your savings account and your financial institution compounds your interest monthly. Interest is 2.25% per year.
$4813.93
400
You do not have to pay interest on a bond if the money is being used for what?
Higher education
400
True or False: Mutual funds are high risk investments
False
400
What does CD stand for?
Certificate of Deposit
500
What is a dividend and which type of bank issues them to customers?
A share of the company's profits and a Savings Bank
500
How long will it take for your investment of 5,550 at the rate of 3% to double?
24 years
500
You invest $1,500 in your friend's clothing business and after one year you receive $200 in profit, what is your rate of return?
13.33%
500
What is a benefit of REIT (Real Estate Investment Trust)?
You don't have to maintain anything.
500
Which account has the highest risk: Money Market, Savings, or CD