survey of business

Which of the following best describes a loan

A borrower promises to repay money from a lender

What is the benefit of a savings account

A savings account earns interest

How can a budget help your reach your financial goals?

Budgeting helps track your spending and increase savings

What would be a good place to look for a scholarship

College website

Lilly wants to save money for unexpected situations like emergencies. Which savings feature would benefit her the most?

Easy access to her money

What type of financial aid is considered free money

Grants

Josh started a new job> He earned $1,900 for two weeks of work, but the amount on his paycheck was only $1,100. What is the most likely reason for why this occurred.

He did not account for withholding taxes or deductions

Amla works as an administrative assistant. Her earnings before taxes are $1,840 bi-weekly. What number does $1,840 represent

Her gross pay earnings

Anthony caused a minor accident when he hit another car. Anthonys insurance company said he needed to pay $500.00 before they could pay the claim. What does the $500.00 most likely refer to in this insurance policy

His auto Insurance deductible

Rosa is getting ready to fill out the FAFSA, which of these

Individual Tax Return

What is the benefit of a checking account

It helps you spend money without carrying cash

Which of the following is considered part of your workplace benefits

Life insurance

What is withholding tax?

Money your employer deducts from an employee's wages to pay to the government

What should be prioritized when creating a budget

Needs and wants

How is money divided using the 50-30-20 Method

Needs, Wants, Savings

A lender offers frank a high-interest loan based on how much he makes at his job. He'll have to pay it back quickly too, within the next month. Which type of predatory loan offer did Frank experience

Payday loan

What type of car insurance would you need to use if you damaged part of your neighbor's house in a car accident

Property damage liability

What does paying yourself first mean?

Put money in your savings account before you pay other expenses

Elliot renovates his home using a loan that requires him to sign over the title to his car if he doesn't pay as promised. What type of loan does Elliot have

Secured loan

Which best describes the difference between secured and unsecured loans

Secured loans require collateral, while unsecured loans do not require collateral

How do loan terms affect the cost of credit

Shorter loans have higher monthly premiums and lower over all intrest rates

Why do you fill out a W-4 when you start a new job

To document what money should be withheld from your paycheck

Which of these is something to consider when trying to get a positive return on investment for higher education

Total cost of attendance

How can a budget help you do

Track spending and increase your income

The total cost of attending a university includes

Tuition, housing, books, food and other costs

What does it mean when the money in your 401(k) is vested

You can keep the money your employer contributed even if you leave your job.

Why do financial institutions offer you high interest rates for certificate of Deposit

You have to keep your money in the account for a set amount of time

A positive return on investment for education happens when

Your earnings potential is higher than your cost of your education

What is the main purpose of having auto insurance?

to protect yourself against unintentional cost and financial losses

what would happen if your car was stolen and you didn't have auto insurance

you would still have to pay the loan in full