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What actor plays captain Jack Sparrow?
Johnny Depp
What does FDIC insurance protect against?
Bank failures
What type of tax is applied to the income generated by an individual or business?
Income tax
What does the term "risk" refer to in the context of investing?
The potential for financial loss or variability in returns on investments
What is an example of unsecured debt?
Credit Card Debt
What breakfast cereal has been represented by a cartoon toucan mascot since 1963?
Froot Loops
What is a check?
A dated and signed form of payment instructing a bank to pay a specific amount
Interest from a savings account is an example of earned income. - True or False
False
What is a bond?
A loan of money to a business or government that is paid back with interest over time.
Why is building a credit history important?
A good credit history makes it easier to obtain loans with favorable terms.
Which American state is the largest (by area)?
Alaska
Define Interest
The cost (or income) of borrowing (from loaning) money
What is the agency that collects and regulates federal taxes in the US?
The Internal Revenue Service (IRS)
What is a key characteristic of someone with a risk-averse profile?
Prefers safer investments with more predictable outcomes
Give an example of revolving credit?
Credit card
Who holds the title of top scorer of all time in NCAA Division I basketball?
Caitlin Clark
Which type of payment method is most comparable to physical cash when lost?
A blank endorsed check
What are payroll deductions?
Amounts withheld from an employee’s total earnings
This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income. Sometimes employers will even match the employee contribution up to a certain amount.
401K
This type of schedule or table lists all payments of a loan, and tells the borrower how much of each payment goes toward the principal, as well as how much they will pay in interest over the life of the loan.
amortization
What is the longest running American animated TV show?
The Simpsons
What should be written in the Memo field of a check?
A quick summary of the purpose of the check
What information does a pay stub typically include?
Total earnings, deductions, and net pay
Which retirement account option allows an individual to withdraw money tax-free during retirement?
Roth IRA
What is the primary benefit of choosing a fixed interest rate mortgage over a floating interest rate mortgage?
A fixed interest rate mortgage has payments that remain constant over time.