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5 Written questions

5 Matching questions

  1. Peer Pressure
  2. Lease
  3. Payroll Deduction
  4. Disposable Income
  5. Wage
  1. a The influence that a social group has on an individual, based on the individual's desire for the group's approval.
  2. b 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.
  3. c Gross pay minus deductions for taxes.
  4. d Compensation for work, usually calculated on an hourly, daily, or piecework basis and paid on schedule—usually weekly, biweekly, or monthly. (See Salary.)
  5. e A written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement, such as a landlord and tenant.

5 Multiple choice questions

  1. A profession or field of employment for which one studies or trains, such as financial services or medicine.
  2. A federal government program that provides retirement, survivor's, and disability benefits, funded by a tax on income, which appears on workers' pay stubs as a deduction labeled FICA (for Federal Insurance Contributions Act, the enabling legislation).
  3. Physical objects—such as fine art, stamps, and antiques—that an investor buys in the hope that they will grow in value.
  4. The government institution with jurisdiction over a deceased person's will and estate.
  5. A document representing a loan of more than one year to the U.S. government, to be repaid, with interest on a specified date.

5 True/False questions

  1. ProfitThe positive difference between total revenue and total expenses of a business or investment.


  2. Life InsuranceProtects dependents from loss of income, debt-repayment, and other expenses after the death of the insured party.


  3. Stored-Value CardPrepaid plastic card that allows purchases up to a set limit, at which point the card is discarded or, if "rechargeable," replenished from an account.


  4. Spending PlanAnother name for budget.


  5. Tax DeferralEarnings, such as interest from municipal bonds, that are free of certain taxes. (See Tax credit and Tax deduction.)