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5 Written questions

5 Matching questions

  1. Spending Plan
  2. Tax Deduction
  3. Record keeping
  4. Long-Term Care Insurance
  5. Time Value of Money
  1. a Covers specific costs of custodial care in a nursing facility or at home.
  2. b 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.)
  3. c Another name for budget.
  4. d The potential of an investment to increase in value through periodically compounded earnings.
  5. e The process of keeping an orderly account of a person's financial affairs, including income earned, taxes paid, household expenditures, loans, insurance policies, and legal documents.

5 Multiple choice questions

  1. The process of calculating risk and devising methods to minimize or manage loss, for example, by buying insurance or diversifying investments.
  2. Money that financial institutions, governments, or corporations pay for the use of investors' money.
  3. Compensation for work, expressed as an annual sum and paid in prorated portions regularly— usually weekly, bi-weekly, or monthly. (See Wage.)
  4. The location where a transaction occurs. POS software can track sales, inventory, and customer information.
  5. The cost of goods and services, including those that are fixed (such as rent and auto loan payments) and those that are variable (such as food, clothing, and entertainment).

5 True/False questions

  1. DebtSomething owed, usually measured in dollars.

          

  2. RepossessionPayment and benefits for work performed; also payment to injured or unemployed workers or their dependents.

          

  3. RentA legal arrangement through which a trustor manages a trustee's assets for the good of one or more beneficiaries.

          

  4. Credit Counseling ServiceAn organization that provides debt and money management advice and assistance to people with debt problems.

          

  5. Decision making, systematicThe process of calculating risk and devising methods to minimize or manage loss, for example, by buying insurance or diversifying investments.

          

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