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What is the amount of money you earn before deductions on your paycheck?

What is the amount of money you earn before deductions on your paycheck?. Net Amount Gross Amount Take Home Both A & C. :09. What is the process called when you review your bank statement and your check register and get them to agree. Clearing Debiting Crediting Reconciling. :08.

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What is the amount of money you earn before deductions on your paycheck?

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  1. What is the amount of money you earn before deductions on your paycheck? • Net Amount • Gross Amount • Take Home • Both A & C :09

  2. What is the process called when you review your bank statement and your check register and get them to agree. • Clearing • Debiting • Crediting • Reconciling :08

  3. How much will the FDIC insure your bank account for? • $150,000 • $200,000 • $100,000 • $250,000 :09

  4. An illegal way of stealing people’s bank/credit information by sending emails asking for information to be submitted to false web sites. • Phishing • Skimming • Ponzi Scheme • Bait & Switch :09

  5. An illegal way of stealing people’s credit card/bank information by attaching a device to an ATM or Credit card machine? • Bait & Switch • Phishing • Skimming • Ponzi Scheme :08

  6. What is an illegal get rich plan in which each person pays in to participate and then recruits more people to participate? • Phishing • Skimming • Ponzi/Pyramid Scheme • Bait & Switch :09

  7. Term for paycheck deposited electronically • Deposit • Direct Deposit • Transfer Deposit :10

  8. What is a check that you have written but the bank has not cashed yet. • Outstanding checks • Stop payment checks • Cancelled Checks • Blank Checks :09

  9. What is term for how quickly an investment can be turned into cash? • Bonds • Stocks • Liquidity • Maturity :09

  10. What is the term for interest earned on interest? • Simple • Compound :09

  11. Subletting means… • Landlord rents to you • You the renter, rent to someone else • Pay your security deposit • Rent a condominium :08

  12. Which savings tool earns a fixed amount of interest for a fixed amount of time. • Money Market • Certificate of Deposit (CD) • Savings Account • Mutual Fund :08

  13. What is a plan for saving and spending your money? • Investment Portfolio • Savings Statement • Budget • None of the above :09

  14. What is the goal when you refinance a mortgage? • Pay a higher interest rate • Pay a lower interest rate • Get a Adjustable Interest rate :09

  15. What is an adjustable rate mortgage? • Rate always stays the same • Rate can fluctuate based on market conditions • Rate can never go up • Is better than a fixed mortgage :08

  16. Term that describes distribution of money among variety of investments • Profit Sharing • Diversification • Volatility • Dividends :08

  17. Which tax form is mailed out by your employer by Jan 31st and to complete your taxes? • W2 • W4 • W11 • 1040EZ :01

  18. Which tax form is the one you fill out when you start a job? • W2 • W4 • W11 • 1040EZ :08

  19. What happens if you claim 0 on your W4? • The government will take the most out of your paycheck • The government will take out the least amount out of your paycheck • The government will take nothing out of your paycheck.

  20. What is social security? • Health Insurance • Forced Savings for retirement • Medicare • 401K 10

  21. Which term describes your money being invested among a variety of investments? • Liquidity • Diversification • Volatility • Cost Averaging 10

  22. Which retirement plan is offered by your employer? • IRA • Social Security • 401K • 402B 10

  23. What is a share of the company’s profits? • Dividends • Audit • Profit Sharing • Yield 10

  24. What does the term “matching” mean? • The company will give you profit sharing • The company will give you a bonus • The company will put a % of money in your 401K • All of the above 10

  25. Which of the following is true about conservative investments? • Low risk, high return • Low risk, low return • High risk, high return • High risk, low return 10

  26. What does the term equity mean… • The ownership you have in your home • Renting a home • Money you owe the bank for your home • The difference between renting and owning 10

  27. There is a hail storm and your vehicle is damaged. Which coverage will pay? • Collision • Bodily Injury • Comprehensive • Medical Payments 10

  28. Which of the following loans is secured by collateral? • Home Mortgage • Car Loan • Credit Card • Student Loan • Both A & B 10

  29. The Dow Jones Industrial Average is a benchmark made up of… • 30 most widely held companies • 50 most widely held companies • 100 most widely held companies • 200 most widely held companies 10

  30. The original amount you borrowed is called… • Annual Percentage • Collateral • Principal • Installment 10

  31. What is the C for assets? • Capacity • Capital • Character • Credit 10

  32. The FTC handles claims on a individual basis… • True • False

  33. When a person writes a check for more than what is in their account… • Over the limit • Overdrawn • Over the top 10

  34. When the Federal Reserve lowers interest rates they want consumers to… • Save more & borrow less • Save less & borrow more • Save more, borrow more • Save less & borrow less 10

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