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
The best place to get the money to pay your car insurance deductible would typically be from 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 is typically the first step in setting a financial goal.
Which of the following is identified as a 501(c)(3)? (1 point) Responses a private school a private school a private foundation a private foundation a company that donates its profits but has unrelated business income a company that donates its profits but has unrelated business income a lobbying firm
A private foundation is typically identified as a 501(c)(3).
Prior to the CARES Act, up to what percentage of your income could be deducted as a donation to charity? (1 point) Responses 80% 80% 100% 100% 60% 60% 70%
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
The savings in a bank is referred to as an interest-bearing savings account.
Which option is an investment with compound interest?(1 point) Responses a rental property a rental property a mutual fund following the S&P 500 a mutual fund following the S&P 500 a checking account a checking account a savings account
A mutual fund following the S&P 500 is an investment with compound interest.
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
The New York Stock Exchange is considered a financial market.
Which of the following is not a characteristic of a typical bank savings account?(1 point) Responses an average of 0.05% interest with no other restrictions an average of 0.05% interest with no other restrictions savings are easily accessible for the customer savings are easily accessible for the customer a high interest rate a high interest rate no restrictions on money withdrawals or deposits
A high interest rate is not a characteristic of a typical bank savings account.
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 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 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 profit earned on the sale of an asset which has increased while it was owned is considered a capital gain.
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 that pools money from many investors to buy securities a fund that pools money from many investors to buy securities a fund used to pay shared bills and expenses a fund used to pay shared bills and expenses a fund used by the government to gather taxed money
A mutual fund is 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 luxury cars owning luxury cars owning dividend stocks owning dividend stocks teaching about personal finance
Owning dividend stocks is a source of passive income.
