PF Unit 3 Test Review

Who said, "in this world, nothing can be said to be certain, except death and taxes"?

• George Washington

• Abraham Lincoln

• Benjamin Franklin

• Teddy Roosevelt

This tax is on purchases of goods and services that we purchase. Different rates apply.

• Real Estate Tax

• Personal Property Tax

• Excise Tax

• Sales Tax

This is a tax on specific items like gasoline that is already included in the price when purchasing.

• Extra Tax

• Excise Tax

• Sales Tax

• Property Tax

The more you make, the more you pay in income taxes is this type of tax.

• Progressive Tax

• Regressive Tax

• Flat Tax

• Curved Tax

When you get a job, you will fill out a ____ which allows you to identify your withholdings.

• W-2

• W-3

• W-4

• W-5

When you make money from the sale of an investment, you will likely have to pay ___ Tax.

• Net Gains

• Capital Gains

• New Gains

• Stock Gains

Which of the following is not considered to be an acceptable Itemized Deduction?

• Interest on a mortgage

• medical and/or dental expenses

• Food expenses for children

• Interest on student loans

Failure to take ordinary or reasonable care to prevent an accident is considered to be _____.

• Peril

• Hazard

• Risk

• Negligence

This is a small amount of money you often pay when you go to the doctor. This allows you to be seen.

• Copay

• Deductible

• Premium

• Insurance

This is the total amount of money that you would have to pay "out of pocket" for medical expenses.

• Copay

• 
  Deductible

• Premium

• Insurance