TEST: BUDGET AND FINANCE
Many Christians give according to the New Testament verse found in 1 Corinthians______which may be actually more than a 10% tithe.
16:2
What is Expected Family Contribution?
The amount of money you and your family will contribute to your college education
,Keep a list of your credit card________,checking account information, and the telephone numbers of each credit card issuer in a safe place in case your cards or checks are ever lost or stolen.
account numbers
An_______card allows you to qualify for free travel or other bonuses.
affinity
Keeping a________balance means you keep a current total of what you have deposited into your account as well as what you have spent out of your account.
bank
IRA withdrawals must begin at age 70 ½. This refers to the:
basic IRA
The amount of spending that the credit card company will allow you is known as the_______limit
credit
When using a credit card, a good fact to remember is that you are not paying on credit, you are actually paying on a________.
debit
Official permission to postpone the payments of a loan is known as a______.
deferment
A partial payment given in order to show intent of purchase is called a:
down payment
Banks rarely offer interest on the money that is in a checking account.
false
Card issuers are not allowed to charge a fee when you use the card to obtain a cash advance.
false
IRAs are tax-free.
false
Are my creditors charging me with ________ ?
late fees
The smallest amount allowed in an account without a financial penalty is called a
minimum balance
The passage in___________3:27-28 gives this advice: "Withhold not good from them to whom it is due, when it is in the power of thine hand to do it. Say not unto thy neighbor, Go, and come again, and to morrow I will give; when thou hast it by thee."
proverbs
__________13:11 says, "Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase." In other words, a person who tries to get money by fraudulent means will not get more, but the steady worker will add to his savings.
proverbs
A(n)_________item means it comes with the car at no extra cost.
standard
Basic IRAs are_______.
tax-deferred
A finance charge is a cost for the convenience of borrowing money.
true
A loan that will charge you interest from the start is called an unsubsidized loan.
true
Never charge more on your credit cards than you can afford to pay in one month.
true
The time when there is no obligation to repay your loan is called a grace period.
true
A consumer can buy products in bulk at a:
wholesale club
If you have a taxable savings account, each______you must pay income taxes on your earnings and capital gains you would make.
year
