If you have to pay your car insurance deductible, which is the best place to get the money?(1 point) Responses your emergency fund your emergency fund your insurance company your insurance company your credit card your credit card your family

your emergency fund

If you used money from your emergency fund, which is an appropriate next response?(1 point) Responses Repay your emergency fund by borrowing against credit cards. Repay your emergency fund by borrowing against credit cards. Continue with the saving plan as is, and your emergency fund will eventually return to its previous balance. Continue with the saving plan as is, and your emergency fund will eventually return to its previous balance. Reduce casual spending and increase savings until your emergency fund has been paid back. Reduce casual spending and increase savings until your emergency fund has been paid back. Borrow the money from your friends to pay the emergency fund back.

Reduce casual spending and increase savings until your emergency fund has been paid back.

Which is the first step in setting a financial goal? (1 point) Responses setting aside leftover income setting aside leftover income reducing your spending reducing your spending tracking your spending tracking your spending starting a second source of income

tracking your spending

Which of the following is identified as a 501(c)(3)? (1 point) Responses a private school a private school a lobbying firm a lobbying firm a private foundation a private foundation a company that donates its profits but has unrelated business income

a private foundation

Prior to the CARES Act, up to what percentage of your income could be deducted as a donation to charity?

70%
80%
60%
100%

Prior to the CARES Act, up to 60% of your income could be deducted as a donation to charity.

What is the savings in a bank referred to as? (1 point) Responses A pile of money under your mattress A pile of money under your mattress A real estate property A real estate property A luxury car A luxury car An interest bearing savings account

An interest bearing savings account

Which option is an investment with compound interest?(1 point) Responses a rental property a rental property a checking account a checking account a savings account a savings account a mutual fund following the S&P 500

a savings account

Which of these is considered a financial market?(1 point) Responses Sotheby’s auction Sotheby’s auction New York Stock Exchange New York Stock Exchange J.P. Morgan Chase J.P. Morgan Chase Ferrari dealership

New York Stock Exchange

Which of the following is not a characteristic of a typical bank savings account?

No restrictions on money withdrawals or deposits
a high interest rate
saving are easily accessible for the customer
an average of 0.05% interest with no other restrictions

A high interest rate

Which of the following are considered to be capital gains?(1 point) Responses the interest earned from a government bond the interest earned from a government bond the new value of a stock after the market closes the new value of a stock after the market closes the money lost when a stock is sold for less than it was purchased for the money lost when a stock is sold for less than it was purchased for the profit earned on the sale of an asset which has increased while it was owned

The profit earned on the sale of an asset which has increased while it was owned.

Which of these is a mutual fund? (1 point) Responses a fund that you share with your family to save in the bank a fund that you share with your family to save in the bank a fund used by the government to gather taxed money a fund used by the government to gather taxed money a fund used to pay shared bills and expenses a fund used to pay shared bills and expenses a fund that pools money from many investors to buy securities

A fund that pools money from many investors to buy securities

Which is a source of passive income?(1 point) Responses working as a consultant working as a consultant owning dividend stocks owning dividend stocks teaching about personal finance teaching about personal finance owning luxury cars

owning dividend stocks

Which is an employer-sponsored retirement plan?(1 point) Responses a type of account offered to employees at very little or no cost a type of account offered to employees at very little or no cost a private bank plan that is recommended by the company a private bank plan that is recommended by the company a Social Security coverage that is offered only to employed citizens a Social Security coverage that is offered only to employed citizens a strategy offered by the company that will advise employees on how to invest in order to retire

a type of account offered to employees at very little or no cost

Which is an appropriate use of money in an emergency fund?(1 point) Responses buying a brand new car buying a brand new car replacing the furnace in July replacing the furnace in July replacing the furnace in January replacing the furnace in January painting the house

replacing the furnace in January

Which option defines a tax benefit? (1 point) Responses a type of tax form that needs to be completed each year. a type of tax form that needs to be completed each year. some type of savings for taxpayers some type of savings for taxpayers a government loan a government loan a government bond affiliated to tax collection

some type of savings for taxpayers