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5 Written questions

5 Matching questions

  1. Savings Account
  2. Peer Pressure
  3. Renters Insurance
  4. Tax
  5. Open-end Credit
  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 agreement with a financial institution that gives a borrower the use of money up to a specified limit for an indefinite time as long as repayment of the outstanding balance and finance charge proceeds on schedule; also known as revolving credit or a revolving line of credit. A credit card is an example.
  3. c Protects from losses due to damage to the contents of a dwelling rather than the dwelling itself.
  4. d A government fee on business and individual income, activities, or products.
  5. e A financial institution deposit account that pays interest and allows withdrawals.

5 Multiple choice questions

  1. The location where a transaction occurs. POS software can track sales, inventory, and customer information.
  2. 1. An amount of money originally invested, excluding any interest or dividends. 2. An amount borrowed, or an outstanding loan balance.
  3. number, or another piece of personal information to commit fraud.
  4. Gross wage or salary, plus bonuses, minus deductions such as for taxes, health care premiums, and retirement savings.
  5. Desired results from one's efforts to achieve personal economic satisfaction.

5 True/False questions

  1. MortgageA federal government program, financed by deductions from wages, that pays for certain health care expenses for older citizens. The Social Security Administration manages the program.


  2. Unearned IncomeGross pay minus deductions for taxes.


  3. IncomeMoney earned from investments and employment.


  4. Impulse BuyingPurchasing goods or services without considering needs, goals, or consequences.


  5. InvestingThe process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals, and funds for investing.