Saving
Income
Budgeting
Credit
Goals
100
What doo the initials CD stand for?
What is certificate of deposit
100

True or False

I can sign a statement with my employer that says "don't take Federal and State taxes from my gross pay.  I may choose to pay it when I retire".

What is False?

100

A plan for spending and saving money during a particular period is called ?

What is a Budget ?

100

True or False

Opening a credit card account will affect your credit?

What is true.

100
What does APR stand for?
What is annual percentage rate.
200

An account at a financial institution that allows for withdrawals and deposits.

What is checking or savings account?

200

True or False

All employees pay into Social Security and Medicare

What is true

200
A good way to track your spending and budget your money is by using what type of tracking tool?
What is spending log
200
Which type of card can carry a monthly balance?
What is a credit card
200
Most millionaires inherit their wealth?
What is false?
300
What does APR stand for?
What is annual percentage rate
300

Name four areas you should include in your budget and ensure get paid

What is 

Shelter

Utilities

Transportation 

Food/Medicine

300
What type of car insurance covers your vehicle if you are in an accident?
What is liability insurance?
300

A number based on information in a consumer's credit report that measures a consumer's credit worthiness.?

What is your credit score

300

A person, other than the principal borrower, who signs for a loan and assumes equal liability ?

What is a co-signer.

400
What does FDIC stand for?
What is Federal Deposit of Insurance Corporation.
400
What is retirement income paid for by the Federal government called?
What is social security?
400

Brian is going to college where the cost is $10,000 per year.  He has a scholarship worth $5,000 and he earns $500 a week at his job.  How many weeks does he need to work to pay the remaining cost of tuition?

What is 10 weeks?

400
Negative items remain on your credit report for how long?
What is 7 years
400

The time permitted for paying an account without an interest charge ??

What is the "Grace Period".

500

This kind of business charges a large fee to exchange your paycheck for cash

What is a Check Cashing business

500

A United States federal tax form issued by employers  stating how much an employee was paid in a year. It is submitted to the IRS along with your tax return.

What is a W-2.

500

Lucia will go to a college where the cost for one year is $20,000. She received a grant worth $5,000, and she earns $1,000 per year at her job. How much will she need to borrow to cover the remaining cost for one year?

What is $14,000?

500

Explain the differences between a Debit Card and a Credit Card

Debit Card -Buy now, pay now. -No interest charged. Money is immediately taken out of your account.  

Credit Card -Buy now, pay later.  Interest is charged. You are billed monthly for money that is borrowed, plus interest and fees.

500

When I get my permanent job, which type of account allows me to save for retirement with tax-free growth and allows after-tax contributions?

What is an Individual Retirement Account ( IRA).

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