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Personal Finance Test
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Avg score: 55% • Most missed: “Which one of the following types of life insurance does not have a cash value?”
Personal Finance Test
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25 Questions

1. A small food retailer that stocks popular items at higher prices and emphasizes an accessible location and long operating hours is called a:
2. When you multiply principal times rate of interest times length of repayment time, the result is:
3. Which one of the following types of life insurance does not have a cash value?
4. Jack is married to Susan; they have five dependent children. Jack can legally use which of the following filing income tax status?
5. A retirement plan that is funded at least in part by an employer is referred to as:
6. Gross income is the amount of income from wages or salary:
7. Jane and Manuel have a net worth of $15,000 and total assets of $150,000. If their revolving credit balance and unpaid bills total $3,500, what are their total liabilities?
8. The ingredients on food labels are listed:
9. A net worth statement is most commonly used for which one of the following?
10. Which one of the following could not be called income?
11. The type of investment that has the highest risk and the highest potential rate of return is
12. A fee collected from most employees to support a federal program that provides old-age, survivors, and disability insurance is commonly referred to as:
13. A person who buys and uses goods and services is a:
14. What is the first step in the financial planning process?
15. A specific expense, such as a medical expense, that can be deducted from adjusted gross income for tax purposes is:
16. Which one of the following factors has the least influence on personal decisions?
17. What approximate interest rate would an investor need to earn in order to double the value of an investment in six years?
18. Personal factors that change your buying patterns include all except:
19. Which one of the following defines a budget?
20. Municipal bonds have an additional benefit of being:
21. In most markets, wages and salaries are determined by:
22. This warranty is imposed by law and is understood to apply even though it has not been stated.
23. You want to buy four new tires before winter. The SMART component in this goal is:
24. What is used to add funds to a bank account?
25. Which one of the following employee benefits would a working parent find most useful?

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