personal finace :(

i hate this

what describes a budget

it is what you make in income and where it goes (how you spend it)

stocks are

ownership in corporations via shares

to reduce risk, you should invest in a variety instead of one type of investment, this is known as

Diversafication

annual fees on credit can be considered the cost for the privilege of using that credit card

true

kelly has the following expenses:

\
200 per month paycheck

50 cell phone

40 gas

40 misc.

\
how much are kellys total planned expenses

130

how much does kelly have remaining after paying her monthly expenses

70

___ credit is the ability to recieve and pay for them later

service credit

what is an example of a fixed expense?

rent

____ is property that can be used as a security for a loan. If the loan is not repaid, the lender can sell the item to get the money due

collateral

creditors always need to state the rate of interest on all credit card offers

true

the security deposit will always be refunded to the tenant upon their departure

false

when a bond is sold at a premium, it is sold ____ than face value

more

A ____ is a person who signs a loan along with the borrower

cosigner

which of the following would be considered a cash outflow

cell phone bill

when trying to decide where to bank, what are some factors to consider

all of the above (locations, types of accounts , locations of ATMS)

Using another persons name or personal information without that persons permission is known as

identity theft

____ skills are personal attributes needed for success on the job. Examples include time management and team work

soft

what is the rate of overtime pay

1\.5 hourly rate

ben bought 20 shares of stock at 10.00 per share and sold them for 12.00 per share. what was his ROI

20%

Evelyn bought 30 shares of stock at 25.00 per share and sold them for 26.50 what was her ROI

6%

which of the following are fees that you may see when using a credit card

all of the above ( over credit limit, late fee, currency exchange fee)

if your credit card isn’t paid on time, a charge wont be imposed for at least two months

false

starting a new business would be considered ____ risk investing

high

Marcus worked 45 hours this week. His hourly rate of pay is 9.00 what was the pay for overtime hours only

67\.50

An ideal investment would be where the principal is safe (no risk)

true

A ___ is a statement of your credit history by a credit bureau

Credit report

which chapter of bankruptcy pertains specifically to businesses as opposed to induviduals

chapter 11

to find net income, we can use the formula: __*_____ - _____*__

income - expenses

example of a hard skill is:

video production

The purpose is to transfer…

insurance

the price you pay for insurance monthly

premium

the amount that you must pay…. at the time in which you make your claim

deductible

Typically, as risk rises, so does your rate of return

true

With a cash advance, the interest rate is always higher and has no grace period

true

With ____ Stock holders are paid dividends before common stock holders

preferred stocks

A car loan is an example of:

installment credit

Which of the follow is NOT a type of car insurance

accidental

When money is added to a checking account, this is known as a

deposit

You should wait at least 24 hours to report a missing credit card

false

____ is meant for long term growth of money

investing

Some of the disadvantages to credit are

All of the above (Failing to make payments, interest and fees, overspending)

____ insurance is available in case you are unable to work for an extended period of time

disability

Compare your receipts to your monthly statements, if you find an unfamiliar Transaction, contact your banks immediately

true

if you see an atm or any other scanner that has been tampered with, report it immediately to

all would be appropriate (the manager, the bank, the police)

sarah budgeted 100 for new art supplies. when she actually bought the supplies she only spent 75 dollars. what type of variance does this represent?

a $25 favorable variance

to determine the number of year it would take for you investment to double, use the formula 72/____

interest rate

what annual interest rate will cause your money to double in 6 years

12%

Each of the following are short term savings EXECPT

collage fund

the best guard against consumer fraud is awareness

true

which of the following is NOT a required deduction from a workers paycheck

vision insurance

the purpose of a security deposit is

to cover any damages left to the property upon the tenats departure

the growth of your principal in a savings account can be accumulated by…

all of the above