5 Written Questions
5 Matching Questions
- Rate of Return
- Individual Retirement Account (IRA)
- Savings Bond
- a A document representing a loan of more than one year to the U.S. government, to be repaid, with interest on a specified date.
- b A court-sanctioned procedure that sets aside a portion of an employee's wages to pay a financial obligation.
- c A fraudulent or deceptive act.
- d Annual earnings on an investment expressed as a percentage of the amount invested; also known as yield. Example: A $3 annual dividend divided by $34 share cost = 0.088, an 8.8% rate of return.
- e An investment with specific tax advantages. A traditional IRA defers taxes on earnings until withdrawal and, under certain circumstances, allows the deduction of some contributions from current taxable income. A Roth IRA requires after-tax contributions only, but allows tax-free withdrawals under certain rules.
5 Multiple Choice Questions
- Covers specific costs of custodial care in a nursing facility or at home.
- An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax credit and Tax exemption.)
- 1. A spending plan. 2. A record of projected and actual income and expenses over a period.
- A government fee on business and individual income, activities, or products.
- Covers specific medical costs associated with illness, injury, and disability.
5 True/False Questions
Decision making, systematic → A summary of receipts and payments for a given period, helpful when preparing a budget; also known as an income and expense statement.
Credit Counseling Service → An organization that provides debt and money management advice and assistance to people with debt problems.
Dividends → An individual's beliefs about what is important, desirable, and worthwhile, which often influence decisions.
Financial Goals → A person who provides financial information and advice. Examples include employee benefits staff, bank and credit union employees, credit counselors, brokers, financial planners, accountants, insurance agents, and attorneys.
Electronic Funds Transfer → Protects from losses due to damage to the contents of a dwelling rather than the dwelling itself.