Personal Finance Test Review

By buying shares in mutual funds, what percent of a company would you own?

• 50%

• 5%

• 1%

• Depends on the size of the purchase?

Give an example of a name brand, and then a generic alternative.

If you are 65 and over, what federal program will cover your health insurance?

• Medicare
• Medicaid

• Savings and Loan Assocation

• Brokers

Mohamed goes Holiday and buys a bag of Hot Cheetos. What is he?

• Crazy. Hot Cheetos are gross.

• A consumer

• A producer

• Hungry.

This type of bank account is not insured by the government, making it risky. What is it?

• Certificates of Deposit

• Money Market Funds

• Checking Accounts

• Savings Account

Which is NOT one of the different ways to pay for things when you are shopping?

• Credit Card

• Charge Card

• Credit Score

• Cash

• Check

Draw the four parts to the cycle of savings.

Which is NOT a way of paying for goods later?

• Credit Cards

• Installment Plans

• Charge Card

• Debit Cards

Name 3 places where interest is paid TO YOU.

• Savings Account

• Credit Cards

• Certificates of Deposit

• Money Market Funds

What is the difference between a credit card and a charge card?

• Credit Cards can be used anywhere and charge cards only in the store that gave it.

• Credit cards are loans and charge cards pull money from your account immediately.

• Credit cards have no risk, and a charge card has high risk.

• Interest rates are higher with charge cards because they require brokers to use.