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5 Written questions

5 Matching questions

  1. Tax
  2. Diversification
  3. Trust
  4. Social Security
  5. Capital Gain
  1. a A government fee on business and individual income, activities, or products.
  2. b A strategy for reducing some types of risk by selecting a wide variety of investments.
  3. c Income that results when the selling price of an asset is greater than the original purchase price.
  4. d A legal arrangement through which a trustor manages a trustee's assets for the good of one or more beneficiaries.
  5. e number, or another piece of personal information to commit fraud.

5 Multiple choice questions

  1. 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.)
  2. The principles and methods that individuals use to acquire and manage income and assets.
  3. A document that contains the signer's desires for specific medical treatment in case the person is unable to make medical decisions; also known as a health care directive.
  4. A specific-purpose loan requiring repayment with interest and any other finance charges by a specific date. Examples include most mortgages or auto loans.
  5. Freedom from unauthorized release of personal information.

5 True/False questions

  1. Easy Access CreditShort-term loans granted regardless of credit history, often for very short periods and at high interest rates. (See Pawnshops, Payday loans, Rent-to-own, and Title loans.)


  2. Opportunity CostThe government institution with jurisdiction over a deceased person's will and estate.


  3. CareerA profession or field of employment for which one studies or trains, such as financial services or medicine.


  4. FraudA fraudulent or deceptive act.


  5. Credit ScoreA statistical measure of a loan applicant's creditworthiness, which is the likelihood of repayment.