personal finance final jeopardy 100 200 300 400 500 100 300 400 500 100 200 300 400 500 100 200 300...
TRANSCRIPT
Personal Finance Final Jeopardy
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Goals Career/college Budgeting Banking Credit/Taxes
200
QuestionAnswer
Goals –100
• QUESTION: Which is considered a NEED– Car, clothes dryer, place to sleep, lunch at a
restaurant
• ANSWER: Place To Sleep!
QuestionAnswer
Goals–200
• QUESTION: A value can be described as
• ANSWER: a belief or idea you consider important or desirable
QuestionAnswer
Goals–300
• QUESTION: Lisa will buy two new car tires three months from now before taking a trip. Each tire costs $75. How long will she need to plan to achieve her goal?
• ANSWER: Short Term Goal
QuestionAnswer
Goals –400 • QUESTION: When making a SMART goal
you want your goal to be• S-• M-• A-• R-• T-• ANSWER: Specific, Measurable, Attainable,
Realistic and Time Bound
QuestionAnswer
Goals –500 • QUESTION: Put the following steps on a financial plan in
the correct order
• _____Establish your criteria• _____Consider the pros and cons• _____Make your decision• _____Identify your goal-1• _____Evaluate your results• _____Examine your options
• ANSWER: 2, 4, 5, 1, 6, 3
QuestionAnswer
• QUESTION: {true or false}– When you finally get the job of your dreams,
you can expect to have that job the rest of your life.
• ANSWER: False
College–100
QuestionAnswer
Careers–200
• QUESTION: What is one of the most valuable employee benefits?
• ANSWER: An employer-sponsored retirement plan
QuestionAnswer
Career–300
• QUESTION: Employee benefits typically cost an employer what percentage of your pay?
• ANSWER: Between 10% and 17%
QuestionAnswer
Career–400
• QUESTION: On average, a person with a college degree earns ____ compared to a person with a high school degree
• ANSWER: almost double
QuestionAnswer
Budgeting–200
• QUESTION: An amount of money spent to buy something or do something that is the exact same amount every time is know as a
• ANSWER: Fixed expense
QuestionAnswer
Budgeting–300
• QUESTION: Money taken out of a paycheck by an employer to pay for taxes, health insurance, and other payments is know as
• ANSWER: Payroll deductions
QuestionAnswer
Budgeting –400
• QUESTION: What is the purpose of Form W-2?
• ANSWER: To itemize how much money was earned by an employee and how much was withheld and sent to the Internal Revenue Service (IRS)
QuestionAnswer
Budgeting –500
• QUESTION: What is the purpose of Form W-4?
• ANSWER: To allow the employer to withhold federal income taxes from an employee’s wages
QuestionAnswer
Banking–100
• QUESTION: {true or false} Using a credit card for purchases is a low-interest way to buy now and pay later
• ANSWER: True
QuestionAnswer
Banking–200
• QUESTION: {true or false}When you use a debit card, you give your bank permission to immediately remove money from your checking account.
• ANSWER: True
QuestionAnswer
Banking–300
• QUESTION: The maximum amount you can charge on a credit card is called
• ANSWER: Credit Limit
QuestionAnswer
Banking–400
• QUESTION: A financial institution that is owned by it’s members that provides savings and checking accounts and other services to its membership at low fees.
• ANSWER: Credit Union
QuestionAnswer
Banking–500
• QUESTION: If you “bounce” a check when you make a purchase at a clothing store, what could happen?
• ANSWER: you can get charged by the store, and your bank and your credit score is lowered
QuestionAnswer
Credit/Taxes-100
• QUESTION: {true or false} If you pay off your full balance on a credit card at the end of the month, you will not be charged interest.
• ANSWER: true
QuestionAnswer
Credit/Taxes-200
• QUESTION: A rating used by credit reporting companies to help lenders decide whether and/or how much credit can be extended to a borrower
• ANSWER: Credit Score
QuestionAnswer
Credit/Taxes-300
• QUESTION: If you are under-age or you do not have the qualifications for credit, you have an option to still obtain credit if you have a
• ANSWER: Co-Signer
QuestionAnswer
Credit/Taxes -400
• QUESTION: List the 4 C’s of Credit
– ANSWER: Collateral, Capital. Capacity. Character