Banking
You are buying groceries and pay with your debit card. Where does the money to cover this purchase come from?
How can someone make money from investing in a stock?
What is an insurance premium?
Your monthly payment to your insurer, regardless of whether you use any services.
What is a resume?
A resume is a formal document that displays an individual's professional background and relevant skills. Most resumes consist of work history, education, a professional summary and a list of skills. Those interested in finding a new job write a resume.
Which is the best time to start saving for retirement?
As soon as you have your first full time job
If inflation is ________ than your savings account interest rate then you will be ________ purchasing power
Higher, losing
Lower, gaining
What is a brokerage account used for?
It's a type of account used to buy and sell stocks, bonds, and funds
Your renter's insurance policy costs $20/month and has a $1,000 deductible. A thief breaks into your apartment and steals your $800 TV. How much would your insurance company pay?
$0
All of the following are hard skills EXCEPT:
a. coding
b. accounting
c. carpentry
d. adaptability
d. adaptability
You are developing a savings plan and using short, medium, and long term goals to motivate you. Which represents possible goals from short-term to long-term? Save for...
a. retirement, a house down payment, college tuition
b. A new cell phone, college tuition, a house down payment
c. A new cell phone, dinner with friends this weekend, a new bike
d. Retirement, college tuition, a vacation
b. a new cell phone, college tuition, a house down payment
Direct deposit typically refers to your ________ sending your ________ electronically to your bank account
employer, paycheck
Why is diversification a recommended investment strategy?
Diversifying your portfolio helps reduce risk
a. health insurance
b. auto insurance
c. life insurance
d. renter's insurance (assuming this person rents)
c. life insurance
How should you handle your social media as it relates to your job search?
Assume that your interviewers are monitoring your social media and post about relevant topics to your industry.
Which of these would be the MOST difficult to adjust if you were looking to reduce your expenses?
a. dining out at local resturants
b. expenses for new clothes
c. loan payment on a new car
d. Purchasing a big screen TV
c. loan payment on a new car
True or false: historically, savings accounts earn higher returns than investments in the stock market
False
Benjamin has $2,000 in a normal savings account that earns 0.5% interest annually. What will most likely happen to the purchasing power of his savings over time?
His purchasing power will decrease because the interest rate is lower than the historical rate of inflation
When setting your premium, your car insurance company many consider each of the following EXCEPT:
a. how many miles you drive per year
b. your age
c. your driving record
d. your height
d. your height
In the first paragraph of your cover letter you should do all of the following EXCEPT:
a. show interest in the company
b. identify the position to which you are applying
c. state how you learned about the job opening
d. explain why you left your previous job
d. explain why you left your previous job
You are putting together your first post-graduation budget. Your net pay is $2,500 per month and your estimated expenses are $2,625. Can you make your budget work with this? Why/why not?
No, you need to either cut back on your spending or find an additional source of income. Your expenses are higher than your net pay
All of the following are true about prepaid cards EXCEPT:
a. they typically include a lot of fees
b. they are a useful option for someone who is unbanked to make online purchases
c. they are a great way to build credit
d. Prepaid cards are generally accepted anywhere debit cards can be used
c. they are a great way to build credit
Profit of $350
Frank has an auto policy with a coverage limit of $30,000 and a deductible of $1,000. He gets into an accident and the damages to his car total $6,200. Fortunately, he has collision coverage. How much will Frank need to pay out-of-pocket?
$1,000
What is the difference between hard skills and soft skills?
Hard skills are job-related competencies and abilities that are necessary to complete work, while soft skills are personal qualities and traits that impact how you work with others
Joelle wants to have an emergency fund to cover 6 months of expenses. Her monthly pay is $4,000 and her monthly expenses are $2,000. If she plans to save 10% of her pay each month, how long will it take her to build her emergency fund?
30 months.
4,000 div by 10 = 400. 400 times 5 = 2,000. 5 times 6 = 30