JA Finance Park Test Word Scramble
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| 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 |
Created by:
sdupuy