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5 Written Questions

5 Matching Questions

  1. Identity Theft
  2. Health Insurance
  3. Payroll Deduction
  4. Easy Access Credit
  5. Debit Card
  1. a Covers specific medical costs associated with illness, injury, and disability.
  2. b The crime of using another person's name, credit or debit card number.
  3. c Short-term loans granted regardless of credit history, often for very short periods and at high interest rates. (See Pawnshops, Payday loans, Rent-to-own, and Title loans.)
  4. d An amount an employer withholds from a paycheck. Mandatory deductions include various taxes. Voluntary deductions include loan payments, charitable contributions, and direct deposits into financial institution accounts.
  5. e A plastic card that provides access to electronic funds transfer (EFT) from an automated teller machine (ATM) or a point-of-sale (POS) terminal.

5 Multiple Choice Questions

  1. A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest, according to a specific schedule.
  2. The assets and debts that a person leaves at death.
  3. A time during which a borrower can pay the full balance of credit due and not incur finance charges or pay an insurance premium without penalty.
  4. A report that identifies a person's financial goals, needs, and expected future earning, saving, investing, insurance, and debt management activities; it typically includes a statement of net worth.
  5. Protects from losses due to damage to the contents of a dwelling rather than the dwelling itself.

5 True/False Questions

  1. Take-home payThe feature of an investment in which taxes due on principal and/or earnings are postponed until funds are withdrawn, often at retirement.


  2. Rent-to-OwnA plan to buy a product with little or no down payment by renting it until the final payment is made, at which point the total paid far exceeds the product's purchase price.


  3. PawnshopA legal declaration of a person's wishes for the disposition of his or her estate after death.


  4. TaxAn amount paid for a service beyond what's required, usually to express satisfaction; also known as a gratuity.


  5. Auto InsuranceProvides liability and property damage coverage under specific circumstances.


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