Personal Finance Final Review

Front

All of the following would reduce Maria’s checking account balance, EXCEPT… Writing a check to pay her rent, Using her debit card to buy groceries, Setting up an automatic payment for her utility bill

Back

Receiving a direct deposit from her employer

Front

Usually, ______ are easier to reduce because they change monthly, compared to ______ which are set costs you pay monthly

Back

variable expenses; fixed expenses

Front

To calculate the net price for a college, you...

Back

Subtract any grants and scholarships from the sticker price

Front

A cover letter is…

Back

A part of a job application that illustrates why you would be a good fit

Front

All of the following are common benefits of mobile banking, EXCEPT… Transfer money without visiting a bank branch, Deposit checks using your phone’s camera, Check your account balance at any time

Back

Avoid all banking fees, like overdraft fees

Front

Which of the following is an example of a dark pattern? A social media app that clearly shows you how to turn off notifications, An online store that applies a discount with a valid coupon code, A website that asks for confirmation before adding extra items to your cart, A subscription service that requires you to call customer service to cancel

Back

A subscription service that requires you to call customer service to cancel

Front

Mia’s renters insurance has a $15 premium, $250 deductible, and $100,000 coverage limit. Her $550 bike is stolen. Who pays?

Back

Mia pays $250; her insurance pays $300

Front

It’s January and Tim is preparing to file his taxes. Which of the following steps is INACCURATE? Tim will receive his W-2 from his employer by the end of January, Tim will complete the form 1040 to file his taxes, Tim has until February 15th to file his taxes, If Tim owes taxes, he must pay them by April 15th

Back

Tim has until February 15th to file his taxes

Front

Which investment automatically adjusts your asset allocation over time? Options: Target Date Fund (TDF), Index Fund, Individual Stock, 401(k)

Back

Target Date Fund (TDF)

Front

Which of the following is TRUE about a secured credit card? Secured credit cards have a spending limit equal to the deposit amount, Secured credit cards do NOT build your credit history, Secured credit cards are higher risk for a bank than other credit cards, Secured credit cards usually have a higher credit limit than other cards

Back

Secured credit cards have a spending limit equal to the deposit amount