Test 1

Question 1

An orderly program for spending, saving and investing the money you earn

Answer 1

Financial plan

Question 2

Organized plan whereby you match your expected income to your expected expenses

Answer 2

Budget

Question 3

The money you have left to spend or save after taxes have been paid

Answer 3

Disposable income

Question 4

The money you have left after you pay for necessities like house, car and utilities

Answer 4

Discretionary income

Question 5

Expenses that are relatively constant (house payment)

Answer 5

Fixed expenses

Question 6

Will change according to needs and short term goals

Answer 6

Variable expenses

Question 7

List of items a person owns

Answer 7

Assets

Question 8

List of items a person owes

Answer 8

Liabilities

Question 9

Legally enforceable agreement between two or more parties to do or not to do something

Answer 9

Contact

Question 10

Elements of an enforceable contract

Answer 10

Agreement 
Consideration
Contractual capacity
Legality
Genuineness of assent 
Legal form

Question 11

Mutual assent

Answer 11

Agreement

Question 12

Price involved

Answer 12

Consideration

Question 13

Competence, sane, intelligent

Answer 13

Contractual capacity

Question 14

Distribute drugs

Answer 14

Legality

Question 15

Misrepresentation, forced to do it

Answer 15

Genuineness of assent

Question 16

Written out properly

Answer 16

Legal form

Question 17

_____ out of 10 families live pay check to pay check

Answer 17

7

Question 18

0 based budget

Answer 18

Total income - total expenses

Question 19

A banking service wherein money is deposited into an account and checks can be written to withdraw money from the account as needed

Answer 19

Checking account

Question 20

A check that cannot be covered by the funds in your account

Answer 20

Overdraft

Question 21

5 rules of writing a check

Answer 21

Always use a pen
Write legibly
Sign your name
Avoid mistakes
Make sure you have enough money

Question 22

A personal check that the bank guarantees or certifies to be good

Answer 22

Certified check

Question 23

A check written by a bank on its own funds

Answer 23

Cashiers check

Question 24

Allows immediate deductions from a checking account

Answer 24

Debit card

Question 25

The process of matching your checkbook register with the bank statement

Answer 25

Bank reconciliation

Question 26

5 elements to a perfect resume

Answer 26

Keep it to one page
Proofread carefully
Use quality paper
Put most important info on top half 
Use pertinent info

Question 27

Top corner of application

Answer 27

Return address

Question 28

Last subheading on resume

Answer 28

Recommendations

Question 29

The thing I can’t remember

Answer 29

20 effort 80 effort