Question
click below
click below
Question
Normal Size Small Size show me how
JA Finance Park Test
Question | Answer |
---|---|
Your abilities include... | things you do well |
Who pays taxes? | people who have jobs, people who purchase items, people who own property |
What are 3 main types of taxes? | income, property, sales |
What is Social Security? | a federal insurance program that provides benefits to retired people, disabled people, and family members of deceased workers |
What is the purpose of taxes? | improve roads, support the government, pay retirement benefits |
Who pays social security? | employees, self- employed people, and employers |
Is social security a tax? | yes |
Is there a federal tax? | yes |
is medicare a tax? | yes |
What is the total amount of earnings made over a year after all deductions? | net annual income |
When it comes to personal savings, what does PYF stand for? | pay yourself first |
Protection against risk is the primary reason people purchase this type of insurance | all kinds, auto, health, life, home |
What is an example of a financial institution? | a bank |
How do lenders use a credit agency? | to see an applicant's credit score, to see an applicant's credit history, to see if an applicant has any outstanding debt |
Is a credit card another name for a debit card? | no |
When you use a debit card you... | buy now, pay now |
When you use a credit card, you... | buy now, pay later |
What do financial institutions charge borrowers when they lend money? | interest |
What are the 3 variables that affect saving money? | amount, time, interest |
What is the total amount of earnings made over a year before deductions? | gross annual income |
In what area of a typical family budget do people spend the most of their money? | housing |