Question 1

A(n) ____ shows the assets, liabilities, and owner's equity of an organization as of a given date.

Accepted Answer

A)  balance sheet 
B)  income statement 
C)  cash flow statement 
D)  loan amortization schedule 
A)  balance sheet 
B)  income statement 
C)  cash flow statement 
D)  loan amortization schedule A

Question 2

Some employers offer paid retirement accounts. These are called

Accepted Answer

A)  defined benefit plans. 
B)  pensions. 
C)  traditional IRAs. 
D)  Both A and B 
A)  defined benefit plans. 
B)  pensions. 
C)  traditional IRAs. 
D)  Both A and B D

Question 3

Typically, a savings account gets the most activity of any personal banking account each month.

Accepted Answer

A) True 
 B)False  False

Question 4

Bonds are typically short-term investments.

Accepted Answer

A) True 
 B)False

Question 5

Medicare is a health insurance program for people age 65 or older.

Accepted Answer

A) True 
 B)False

Question 6

A loan amortization calculator shows how much interest you will pay during the life of a loan.

Accepted Answer

A) True 
 B)False

Question 7

A _____ consists of stocks, bonds, and other investments focused on a particular investment strategy.

Accepted Answer

A)  defined benefit plan 
B)  stock purchase plan 
C)  mutual fund 
D)  simplified employee pension plan 
A)  defined benefit plan 
B)  stock purchase plan 
C)  mutual fund 
D)  simplified employee pension plan

Question 8

Cash flow statements are not as important now since companies typically handle transactions electronically.

Accepted Answer

A) True 
 B)False

Question 9

_____ are the modern equivalent of petty cash.

Accepted Answer

A)  Purchasing cards 
B)  Purchase orders 
C)  Debit cards 
D)  Credit cards 
A)  Purchasing cards 
B)  Purchase orders 
C)  Debit cards 
D)  Credit cards

Question 10

The S&P 500 is an indicator of stock market trends.

Accepted Answer

A) True 
 B)False

Question 11

Ronald's car just died, and he needs to buy a new one very soon. He has investments, but it will take a while for him to get the cash from these investments. Ronald is having a _____ problem.

Accepted Answer

A)  liquidity 
B)  penalty 
C)  dividend 
D)  diversification 
A)  liquidity 
B)  penalty 
C)  dividend 
D)  diversification

Question 12

_____ is the interest rate for a credit card expressed as a yearly amount.

Accepted Answer

A)  IRA 
B)  SEP 
C)  APR 
D)  None of the above 
A)  IRA 
B)  SEP 
C)  APR 
D)  None of the above

Question 13

_____ are the result of thinking about what you want to achieve and how you will pay for it.

Accepted Answer

A)  Financial goals 
B)  Budgets 
C)  IRAs 
D)  Personal goals 
A)  Financial goals 
B)  Budgets 
C)  IRAs 
D)  Personal goals

Question 14

Match between columns
                        Premises: A social insurance program the beneficiaries of which are retired individuals, survivors, and people with disabilities
A spending and saving plan based on anticipated income and expenses
An IRA set up to benefit a husband or wife who does not work outside the home
A share of a company's profits distributed to stockholders
A share of ownership in a corporation
An IRA for which money is deducted from gross income (reducing taxable income) and taxes are paid when the money is withdrawn during retirement
A tax-deferred retirement plan for employees of private companies and corporations
An IRA for which contributions are taxed at the time you make them
A retirement plan for small business owners and their employees
A tax-deferred retirement plan for employees of nonprofit organizations or educational institutions

Accepted Answer

The Answer of Roth IRA and spousal IRA and 403(b) is...

Question 15

If you carry a balance on your credit card, it's wise to make only the minimum payment since you'll have to pay interest anyway.

Accepted Answer

A) True 
 B)False

Question 16

You should limit the amount you owe to less than _____ percent of your take-home pay.

Accepted Answer

A)  20 
B)  5 
C)  30 
D)  50 
A)  20 
B)  5 
C)  30 
D)  50

Question 17

When you create a _____, you consider your financial goals and determine steps you will take to meet them.

Accepted Answer

A)  financial plan 
B)  retirement plan 
C)  budget 
D)  balance sheet 
A)  financial plan 
B)  retirement plan 
C)  budget 
D)  balance sheet

Question 18

An income statement is usually prepared to show income and expenses for a month or fiscal year.

Accepted Answer

A) True 
 B)False

Question 19

You may have money taken out of your paycheck for retirement as a payroll deduction.

Accepted Answer

A) True 
 B)False

Question 20

The Dow Jones Industrial Average is an index of stocks.

Accepted Answer

A) True 
 B)False

A(n) ____ shows the assets, liabilities, and owner's equity of an organization as of a given date.

Some employers offer paid retirement accounts. These are called

Typically, a savings account gets the most activity of any personal banking account each month.

Bonds are typically short-term investments.

Medicare is a health insurance program for people age 65 or older.

A loan amortization calculator shows how much interest you will pay during the life of a loan.

A _____ consists of stocks, bonds, and other investments focused on a particular investment strategy.

Cash flow statements are not as important now since companies typically handle transactions electronically.

_____ are the modern equivalent of petty cash.

The S&P 500 is an indicator of stock market trends.

Ronald's car just died, and he needs to buy a new one very soon. He has investments, but it will take a while for him to get the cash from these investments. Ronald is having a _____ problem.

_____ is the interest rate for a credit card expressed as a yearly amount.

_____ are the result of thinking about what you want to achieve and how you will pay for it.

If you carry a balance on your credit card, it's wise to make only the minimum payment since you'll have to pay interest anyway.

You should limit the amount you owe to less than _____ percent of your take-home pay.

When you create a _____, you consider your financial goals and determine steps you will take to meet them.

An income statement is usually prepared to show income and expenses for a month or fiscal year.

You may have money taken out of your paycheck for retirement as a payroll deduction.

The Dow Jones Industrial Average is an index of stocks.

The Workplace - Constantly Changing

Your Professional Image

Workplace Teams

Self-Management

Ethical Theories and Behaviors

Leadership

Customer Service

Written Communication

Verbal Communication and Presentations

Global Communication - Technology and Etiquette

Records Management

Managing Electronic Records

Event Planning

Travel Arrangements

Workplace Mail and Copying

Job Search and Advancement

Filters

Exam 13: Personal Finance and Investment Strategies

A(n) ____ shows the assets, liabilities, and owner's equity of an organization as of a given date.

Some employers offer paid retirement accounts. These are called

Typically, a savings account gets the most activity of any personal banking account each month.

Bonds are typically short-term investments.

Medicare is a health insurance program for people age 65 or older.

A loan amortization calculator shows how much interest you will pay during the life of a loan.

A _____ consists of stocks, bonds, and other investments focused on a particular investment strategy.

Cash flow statements are not as important now since companies typically handle transactions electronically.

_____ are the modern equivalent of petty cash.

The S&P 500 is an indicator of stock market trends.

Ronald's car just died, and he needs to buy a new one very soon. He has investments, but it will take a while for him to get the cash from these investments. Ronald is having a _____ problem.

_____ is the interest rate for a credit card expressed as a yearly amount.

_____ are the result of thinking about what you want to achieve and how you will pay for it.

If you carry a balance on your credit card, it's wise to make only the minimum payment since you'll have to pay interest anyway.

You should limit the amount you owe to less than _____ percent of your take-home pay.

When you create a _____, you consider your financial goals and determine steps you will take to meet them.

An income statement is usually prepared to show income and expenses for a month or fiscal year.

You may have money taken out of your paycheck for retirement as a payroll deduction.

The Dow Jones Industrial Average is an index of stocks.

The Workplace - Constantly Changing

Your Professional Image

Workplace Teams

Self-Management

Ethical Theories and Behaviors

Leadership

Customer Service

Written Communication

Verbal Communication and Presentations

Global Communication - Technology and Etiquette

Records Management

Managing Electronic Records

Event Planning

Travel Arrangements

Workplace Mail and Copying

Job Search and Advancement

Filters