5 Written questions
5 Matching questions
- Savings Account
- Peer Pressure
- Renters Insurance
- Open-end Credit
- a The influence that a social group has on an individual, based on the individual's desire for the group's approval.
- 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.
- c Protects from losses due to damage to the contents of a dwelling rather than the dwelling itself.
- d A government fee on business and individual income, activities, or products.
- e A financial institution deposit account that pays interest and allows withdrawals.
5 Multiple choice questions
- The location where a transaction occurs. POS software can track sales, inventory, and customer information.
- 1. An amount of money originally invested, excluding any interest or dividends. 2. An amount borrowed, or an outstanding loan balance.
- number, or another piece of personal information to commit fraud.
- Gross wage or salary, plus bonuses, minus deductions such as for taxes, health care premiums, and retirement savings.
- Desired results from one's efforts to achieve personal economic satisfaction.
5 True/False questions
Mortgage → A 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.
Unearned Income → Gross pay minus deductions for taxes.
Income → Money earned from investments and employment.
Impulse Buying → Purchasing goods or services without considering needs, goals, or consequences.
Investing → The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals, and funds for investing.