Dollars and Sense Final Review

Front

How can you improve your credit score?

Back

pay all your bills on time

Front

You earn a salary of $40,000 per year and decide to save 20% of your gross pay. You then set a goal of creating a $16,000 emergency fund. How long will it take for you to achieve your goal?

Back

2 years

Front

What are signs that your finances are being derailed by social media? Falling for FOMO, Believing in the fantasy, Impulsive purchasing.

Back

All of the above

Front

Joanne is buying a new car for the first time and wants to minimize the overall cost. Which of the following will help her the MOST? Lowering her interest rate from 4% to 2%, Increasing her loan term from 60 months to 84 months, Putting an extra 50 bucks on her down payment

Back

Lowering her interest rate from 4% to 2%

Front

A set dollar amount you agree to pay each time you receive medical treatment:

Back

Copay

Front

A retirement savings plan, sponsored through your employer who will often match your contributions, that allows an individual to save for retirement and have the savings grow while deferring taxes until funds are withdrawn:

Back

401K

Front

Which should you use when creating a budget - NET PAY or GROSS PAY?

Back

Net Pay

Front

A share of the value of a company, which can be bought, sold, or traded as an investment and which gives the investor small partial ownership of the company:

Back

Stock

Front

What form is used by employers to determine how much should be withheld from your paycheck?

Back

W-4

Front

what does it mean to have overdraft protection

Back

Overdraft protection means that the bank will cover the costs of any transactions that you do not have enough money in your account to cover the cost. They will charge a fee plus the amount of the transaction.