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Fin Mag
| Question | Answer |
|---|---|
| If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the | US Treasury Department |
| A blank endorsement on a check | Creates a check that can be cashed by anyone |
| Which financial product may pay a dividend? | Common stock |
| How can individuals be prepared for losing their job or having a large medical expense? | Save at least three months of income |
| "The Fed" is short for: | The Federal Reserve System |
| Which of the following is considered to be open-end credit? | Department store charge cards. |
| A credit card finance charge is: | The dollar amount it costs to use credit |
| The decision to give an applicant credit is made a | creditor |
| Scott just got an ATM card to use and must choose a PIN (Personal Identification Number). How should he select a PIN that will give him maximum protection against anyone else being able to find out what the PIN is? | Use a random selection of letters and numbers |
| Discretionary income is | The difference between your total income and your essential living expenses |
| The term that best describes money left over after paying taxes, fixed and other essential living expenses, is: | Disposable income |
| Which of the following careers would be possible choices for someone interested in money and finance? | Insurance actuary |
| A person owns a stock that pays a $2.00 a share dividend. If the person chooses to reinvest that dividend, this means that the $2.00 will go toward buying | more of the same stock. |
| The interest earned on United States Series EE Savings Bonds is | A: exempt from state and local taxes. |
| Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at $50 a share on 50% margin. This means that the | brokerage firm is lending the investor 50% of the money. |
| What is the largest equities market in the world? | New York Stock Exchange (NYSE) |
| Which investment would you choose today if you believe interest rates will go up? | Short-term savings instruments |
| he only type of life insurance that does not develop a cash value is | Term life insurance |
| Why is term life insurance usually the least expensive type of life insurance? | death benefit |