5 Written questions
5 Matching questions
- Mutual Fund
- a An investment tool that pools the money of many shareholders and invests it in a diversified portfolio of securities, such as stocks, bonds, and money market assets.
- b A person who relies on another individual for support.
- c Freedom from unauthorized release of personal information.
- d Earnings from corporate stock or credit union share accounts.
- e A strategy for reducing some types of risk by selecting a wide variety of investments.
5 Multiple choice questions
- The location where a transaction occurs. POS software can track sales, inventory, and customer information.
- An amount that a taxpayer who meets certain criteria can subtract from tax owed. Examples include a credit for earned income below a certain limit and for qualified post-secondary school expenses. (See Tax deduction and Tax exemption.)
- A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest, according to a specific schedule.
- The means of settling a financial obligation, such as by cash, check, credit card, debit card, smart card, or stored value card.
- Purchasing securities such as stocks, bonds, and mutual funds with the goal of increasing wealth over time, but with the risk of loss.
5 True/False questions
Renters Insurance → Provides property damage and liability coverage under specific circumstances.
Rate of Return → A rough calculation of the time or interest rate needed to double the value of an investment. Example: To figure how many years it will take to double a lump sum invested at an annual rate of 8%, divide 72 by 8, for a result of 9 years.)
Profit → An agreement to provide goods, services, or money in exchange for future payments with interest by a specific date or according to a specific schedule. The use of someone else's money for a fee. (See Open-end credit, Closed-end credit, and Easy-access credit.)
Close-end Credit → 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.
Interest Income → Money that financial institutions, governments, or corporations pay for the use of investors' money.