Exam 15: Personal Finances

Which type of student loan accrues (builds up)interest while the student is enrolled in college at least part-time?

The bank rate measures the percentage of disposable income devoted to savings.

To understand the value of saving money,the most important thing to learn is the power of _____.

If your personal savings rate is negative it means that you:

In order to get out of debt,it is recommended that you do all of the following except:

A(n)_____ is a document that itemizes expected sources of income and expenditures for the coming year,along with the relevant money amounts for each.

When the actual amount of expenditure is more than the budgeted amount,it is recorded as an "unfavorable" variance.

Consumer spending in 2014 rose to its highest level since 2007.

Line items in a budget are used to identify various expenditures such as housing,food,transportation,personal and health care.

_____ is the risk that poor management of an organization with which you're dealing may adversely affect your personal-finances planning,while _____ is the risk associated with a product that you've chosen to buy.

Subprime loans have very attractive interest rates because they are below the prime rate.

Insurance pays an income to an insured person when he or she is unable to work for an extended period of time.

Current liabilities consist of debt payments that extend for a period of more than one year.

Mike gets 5% interest on his savings,but the inflation rate is 3%.So his rate of return is 8%.

With _____,the interest earned on your savings is added to the money in your savings account,and the new total (principle plus interest)earns more interest.

Something that can be used,as opposed to an investment,is called an intangible asset.

What is your primary goal during a job interview?

The difference between the actual amounts and budgeted amounts is called the variable expense.