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Professional Communications Semester Exam

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1.
2 points
Stocks are insured against loss by most banks and credit unions.
2.
2 points
An interest-bearing account where people put money for future use.
3.
2 points
Interest is the fee received for the use of money.
4.
2 points
Total amount of earnings made over a month before any deductions.
5.
2 points
Use the following information to answer the question below.

Sales Tax is 7%
Multiply the subtotal by .07
Add the computed sales tax to the subtotal for the total that the consumer pays.

Jason bought a shirt for $29.99. Compute the sales tax to determine the total cost of the shirt.
6.
2 points
A debit card looks like a credit card but operates like cash.
7.
2 points
A bank is a not-for-profit financial institution.
8.
2 points
By automatically reinvesting your dividends, you are buying additional shares and increasing your investment.
9.
2 points
The purpose of taxes is to
10.
2 points
Who uses financial institutions?
11.
2 points
This type of investment is essentially an IOU with a set rate of return. The issuer promises to pay the buyer a certain sum of money at the end of a stated period plus interest payments at specific intervals. This type of investing doesn't represent ownership in the corporation, government agency, or utility borrowing the money.
12.
2 points
Always use a pen when writing a check.
13.
2 points
Nontaxable items include Insurance, groceries, and medical services.
14.
2 points
To commit money to gain a profit or earn interest.
15.
2 points
Income amount remaining after a year's worth of deductions have been taken.
16.
2 points
What are the three main types of taxes?
17.
2 points
When writing a check, you should write the change as a percent.

Example $0.12 would be written as 12/100
18.
2 points
A social insurance system that provides benefits to most Americans who are retired, sick, or too disabled to work, and to families of workers who have died.
19.
2 points
The amount of money originally invested.
20.
2 points
An example of a financial institution is:
21.
2 points
Chandler is a college professor. His annual salary is $70,000. What is his gross monthly income?
22.
2 points
It is acceptable to sign your nickname when signing a check.
23.
2 points
A debit card is handy in an emergency when you don't have the money to spend.
24.
2 points
A debit card allows for immediate electronic transfer of money from a cardholder's savings or checking account.
25.
2 points
A social insurance program that extends health coverage to almost all Americans age 65 and over.
26.
2 points
Household items and restaurant food are items that qualify for sales taxes.
27.
2 points
A portion of one's personal income paid to a government.
28.
2 points
The possibility of financial loss or physical harm.
29.
2 points
A saver who wants her savings insured by the FDIC wants to use this savings option.
30.
2 points
Property taxes are based on a property's value.
31.
2 points
Use the following information to answer the question below.

Sales Tax is 7%
Multiply the subtotal by .07
Add the computed sales tax to the subtotal for the total that the consumer pays.

Jason bought a package of balloons for $7.99. Compute the sales tax to determine the total cost of the balloons.
32.
2 points
Keep track of your checks and the account balance using a
33.
2 points
A long-term investment usually means an investment period of one to three months.
34.
2 points
Items like homes, cars, commercial buildings, and factories qualify for property taxes.
35.
2 points
When writing a check, Pay to the order of means to print the name of the person or business you are paying.
36.
2 points
Required payments to a government.
37.
2 points
The next best alternative given up when making a financial choice.
38.
2 points
When it comes to personal savings, what does the acronym PYF stand for?
39.
2 points
The lower an applicant's credit score, the lower the risk to the lender.
40.
2 points
A credit card provides preapproved credit.
41.
2 points
Amount of monthly income remaining after all deductions have been taken (sometimes referred to as take-home pay).
42.
2 points
A collection of stocks or bonds of various corporations.
43.
2 points
The higher the probability that some event will happen, the more expensive the insurance premium to protect against that event will be.
44.
2 points
Money received from work is called
45.
2 points
An income tax is a tax on your personal bank account.
46.
2 points
The memo line on a check is used to write out the dollar amount.
47.
2 points
Use the following information to answer the question below.

Sales Tax is 7%
Multiply the subtotal by .07
Add the computed sales tax to the subtotal for the total that the consumer pays.

Jason bought shampoo for $2.29. Compute the sales tax to determine the total cost of the shampoo.
48.
2 points
Protection against risk is the primary reason people purchase this type of policy
49.
2 points
Total pay or earnings made over a one-year period before any deductions have been taken.
50.
2 points
Who pays taxes?
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