Personal Finance
JEOPARDY
Final Exam Review
Definitions Budgeting
Banking
Credit
Insurance Potpourri
Final Jeopardy
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Definitions
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The legal process in which some or all
of a debtor’s assets are distributed
among creditors b/c the debtor
cannot pay his/her debts.
Question
A: What is bankruptcy?
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Definitions
200
The difference between the amount
you own and the debts you owe.
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Question
A: What is your net worth?
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Definitions
300
Extra money that can be spent, saved
or invested after taxes and necessities.
Question
A: What is discretionary income?
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Definitions
400
The process of matching your
checkbook balance with the bank
statement balance.
Question
A: What is a reconciliation?
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Definitions
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Allows credit card companies to
increase your interest rate if you
make just one late payment.
Question
A: What is universal default?
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Budgeting
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Cash and items that can be quickly
converted to cash.
Question
A: What are liquid assets?
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Budgeting
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Your budget shows a surplus when
_______________.
Question
A: What is you spend less than you earn?
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Budgeting
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The method of planning how to get the
most from your money.
Question
A: What is money management?
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Budgeting
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A situation that occurs if a person
spends more than he/she earns.
Question
A: What is a deficit?
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Budgeting
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SMART stands for ______________.
Question
A: What is S=Specific M=Measurable A=Attainable
R=Realistic
T=Time Bound?
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Banking
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The funds for a debit card come
directly from this account.
Question
A: What is a checking account?
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Banking
200
Writing the words “For Deposit Only” on the
back of a check before your name constitutes
this endorsement.
Question
A: What is restrictive?
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Banking
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The responsible person for reporting identity
theft.
Question
A: Who is the victim of fraud?
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Banking
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The financial service best suited for saving
money over a period of time.
Question
A: What is a Certificate of Deposit?
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Banking
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When the bank withdraws money from
your account to pay for a bill.
Question
A: What is automatic payment?
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Credit
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Name the 4 C’s.
Question
A: What is Capital, Collateral, Capacity and Character?
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Credit
200
Prohibits discrimination in giving credit on the
basis of sex, race, color, religion, national
origin, marital status, age, or receipt of public
assistance.
Question
A: What is the Equal Credit Opportunity Act?
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Credit
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A periodic charge for using credit.
Question
A: What is interest?
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Credit
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One of the 4 C’s that requires a person’s
assets exceed their liabilities.
Question
A: What is Capital?
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Credit
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The time permitted for paying an
account without an interest charge.
Question
A: What is the Grace Period?
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Insurance
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Liability insurance protects you
against _____.
Question
A: What are lawsuits?
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Insurance
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Insurance coverage that reimburses a
car owner if the car is stolen.
Question
A: What is comprehensive?
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Insurance
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Out-of-pocket expense on an
automobile or property insurance
claim.
Question
A: What is the deductible?
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Insurance
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While driving, you swerve to miss a goose
in the road and hit a tree. This type of
insurance will provide reimbursement
for damage to your car.
Question
A: What is collision?
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Insurance
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Name the 2 most important types of
insurance you need at your age.
Question
A: What is health and automobile?
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Potpourri
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A belief or idea you consider important
or desirable.
Question
A: What is a value?
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Potpourri
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The maximum amount you can
charge on your credit card.
Question
A: What is your credit limit?
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Potpourri
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The financial institution that generally
charges the highest interest rates on
loans.
Question
A: What are finance companies?
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Potpourri
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The FDIC insures each account in a
federally chartered bank up to this
amount.
Question
A: What are $250,000?
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Potpourri
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If a check is lost or stolen, you would
ask the bank for a _______.
Question
A: What are stop-payment order?
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Final Jeopardy
Calculate the net cash flow:
Jane’s take home pay is $900 and she has
$45 in savings. Jane has the following
expenses: fixed = $320 and variable =
$465.
Question
A: $160.00
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