Exam 15: Personal Finances

In a budget, a(n) _________ occurs when the actual amount of an expenditure is less than the budgeted amount

If you are unable to pay your debts, the best thing to do is to change your phone number to avoid collection calls.

Most employer-sponsored health insurance plans include dental and eye coverage.

Credit cards _____.

Your liabilities are items of monetary worth that you own.

Whenever you use credit, those you borrow from provide information on your debt and payment habits to three national credit bureaus.

In determining your credit score, the length of your credit history is not nearly as important as the types of credit you use.

What is the bottom line of a cash flow statement?

A potential employer will likely spend ten minutes reviewing your résumé.

With simple interest, principal plus interest earns more interest.

Because of _____ a dollar received today is worth more than a dollar received in the future.

Typically, your financial plans do not change very much over the course of your life.

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

Monetary or liquid assets include all of the following except _____.

Part of your personal net worth statement is the amount owed to others.

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

In order to get a handle on your finances and begin to get out of debt, financial planners suggest you do the following for one week:

Fraudulent mortgage applications increased by 300 percent between 2002 and 2006.

Discuss the major job benefits often provided by employers.

Which of these employee benefits is just as important or perhaps even more important than medical insurance?