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5 Written questions

5 Matching questions

  1. Pawnshop
  2. Career
  3. Lease
  4. Standard of Living
  5. Wage
  1. a Compensation for work, usually calculated on an hourly, daily, or piecework basis and paid on schedule—usually weekly, biweekly, or monthly. (See Salary.)
  2. b The overall degree of comfort of an individual, household, or population, as measured by the amount of goods and services its members consume.
  3. c 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.
  4. d A profession or field of employment for which one studies or trains, such as financial services or medicine.
  5. e An easy-access credit business that makes high-interest loans secured by personal property collateral, such as jewelry.

5 Multiple choice questions

  1. Desired results from one's efforts to achieve personal economic satisfaction.
  2. The principles and methods that individuals use to acquire and manage income and assets.
  3. 1. A spending plan. 2. A record of projected and actual income and expenses over a period.
  4. The value of possible alternatives that a person gives up when making one choice instead of another; also known as a trade-off.
  5. 1. A legal agreement that records a debt or equity obligation from a corporation, government, or other organization. Examples include stocks and bonds. 2. Collateral for a loan.

5 True/False questions

  1. Risk ManagementA summary of receipts and payments for a given period, helpful when preparing a budget; also known as an income and expense statement.

          

  2. CompoundingA person who relies on another individual for support.

          

  3. Tax CreditAn 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.)

          

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

          

  5. DebtA periodic fee for the use of property.