Gov. Test !! Last One !!
Proverbs 12:11
"He that tilleth his land shall be satisfied with bread: but he that followeth vain persons is void of understanding."
Proverbs 23:4-5
"Labour not to be rich: cease from thine own wisdom. Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven."
Proverbs 13:11
"Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase."
Proverbs 3:27-28
"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."
plan
A "rollover" IRA is one that gets money from another qualified ____.
finance charge
A ______ is a cost for the convenience of borrowing money.
down payment
A partial payment given in order to show intent of purchase is called a:
standard
A(n) ______ item means it comes with the car at no extra cost.
affinity
An _____ card allows you to qualify for free travel or other bonuses.
billing statements
An explanation of how the card's balances are determined is required to appear on ________.
late fees
Are my creditors charging me with ______?
10 percent
Biblical tithing basically means you will give _______ of your income to the Lord.
5%
Clothing
10%
Food
Proverbs 3:9-10
God should receive honor in our handling of finances. "Honour the LORD with thy substance, and with the firstfruits of all thine increase: So shall thy barns be filled with plenty, and thy presses shall burst out with new wine." Where is this passage found?
25 to 40%
Housing + Utilities (Water, electricity)
withhold
If you attempted in good faith effort to work out the problem with the seller about a charged item or service, the law gives you the right to ____ from the card issuer payment for the merchandise or services.
account numbers
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 lost or stolen.
bank
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.
impulse buying
Making a purchase "on the spur of the moment" without careful planning is called ________.
more
Many Christians give according to the New Testament verse found in 1 Corinthians 16:2, which is actually ____ than a 10% tithe.
penalities
Mr. Lamon's $5,000 contribution into the IRA has "protected" him from having to pay tax on that portion of his _______.
one month
Never charge more on your credit cards than you can afford to pay in ______.
deferement
Official permission to postpone the payments of a loan is known as a ______.
checking accounts
One of the steps towards what many people call a "cashless society" was when ______ were introduced.
5% or more
Savings
interest
Some banks offer _____ on the money that is in the checking account.
20%
Taxes (actual percent)
Expected Family Contribution
The amount of money you and your family will contribute to your college education.
credit
The amount of spending that the credit card company will allow you is known as the _____ limit.
IRAs
The great thing about ___ is that you CANNOT withdraw money anytime you want, WITHOUT financial penalty.
gross income
Total income, before deductions are made, is called ______.
terms and conditions
Under the Fair Credit and Charge Card Disclosure Act, you have the right to compare different cards' __________________.
interest
What is/are a percentage of the amount loaned which is a charge for the use of the money?
tax-deferred
When no taxes are due until the required time and the payments are held off, the action is called:
debt
When using a credit card, a good fact to remember is that you are not paying on credit, you are actually paying on a ____.
expenses, income
When you have listed all your income and expenses and want to find out how much you have left over, subtract the _____ from _____ and see what comes out on the "bottom line."
customer service
When you talk with a _______ representative, you can tell them of your particular needs in opening a checking account.
checks
Which is the best system for keeping track of your spending?
Unsubsidized Loan
Which type of federal student aid is being described below? This aid is not awarded on the basis of financial need and is not interest free. The government will charge you interest from the start, making it important to pay interest as it grows.
grace period
_____ is a time when there is no obligation to repay your loan.
wholesale club
_______ is another type of business that eliminates the retail part of the transaction. Many times a consumer can buy products in bulk, or larger quantities than are available in retail stores.
Proverbs 23:4-5
_________ warns us against an unhealthy desire for wealth.
Factory direct
__________ is manufacturer-to-consumer selling.
Nehemiah 10:37
__________ is one of the Bible passages concerning the tithing principle.
1 Corinthians 16:2
a verse which could tell us of people giving more than a 10% tithe
Federal Pell Grant
assistance from the government which is not to be repaid
FFEL Stafford Loan
assistance from the government which is to be repaid
non-sufficient funds
notice sent to the bank customer if his deposits are not enough to cover costs of the check he has written
processed
series of actions which take the check from the merchant to the accounting centers of the bank
bank balance
the current money available in the depositor's account
payee
the person who will receive the check as payment
minimum balance
the smallest amount allowed in an account without a financial penalty
subsidized loan
you will not be charged any interest before you begin repayment
