1. Personal Finance
JEOPARDY
Final Exam Review

2. Definitions
Budgeting
Banking
Credit
Insurance
Potpourri
F i n a l J e o p a r d y
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3. Definitions 100
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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4. \\
Definitions 200
The difference between the amount you own and the debts you owe.
Question
A: What is your net worth?
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5. 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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6. Definitions 400
The process of matching your checkbook balance with the bank statement balance.
Question
A: What is a reconciliation?
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7. Definitions 500
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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8. Cash and items that can be quickly converted to cash.
Budgeting 100
Cash and items that can be quickly converted to cash.
Question
A: What are liquid assets?
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9. Your budget shows a surplus when _______________.
Budgeting 200
Your budget shows a surplus when _______________.
Question
A: What is you spend less than you earn?
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10. The method of planning how to get the most from your money.
Budgeting 300
The method of planning how to get the most from your money.
Question
A: What is money management?
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11. A situation that occurs if a person spends more than he/she earns.
Budgeting 400
A situation that occurs if a person spends more than he/she earns.
Question
A: What is a deficit?
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12. Budgeting 500 Question SMART stands for ______________.
A: What is S=Specific M=Measurable A=Attainable R=Realistic T=Time Bound?
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13. The funds for a debit card come directly from this account.
Banking 100
The funds for a debit card come directly from this account.
Question
A: What is a checking account?
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14. 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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15. The responsible person for reporting identity theft.
Banking 300
The responsible person for reporting identity theft.
Question
A: Who is the victim of fraud?
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16. Banking 400
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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17. When the bank withdraws money from your account to pay for a bill.
Banking 500
When the bank withdraws money from your account to pay for a bill.
Question
A: What is automatic payment?
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18. Credit 100 Question Name the 4 C’s.
A: What is Capital, Collateral, Capacity and Character?
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19. 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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20. A periodic charge for using credit.
Question
A: What is interest?
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21. Credit 400
One of the 4 C’s that requires a person’s assets exceed their liabilities.
Question
A: What is Capital?
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22. The time permitted for paying an account without an interest charge.
Credit 500
The time permitted for paying an account without an interest charge.
Question
A: What is the Grace Period?
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23. Liability insurance protects you against _____.
Question
A: What are lawsuits?
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24. Insurance coverage that reimburses a car owner if the car is stolen.
Question
A: What is comprehensive?
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25. Out-of-pocket expense on an automobile or property insurance claim.
Question
A: What is the deductible?
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26. Insurance 400
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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27. Name the 2 most important types of insurance you need at your age.
Question
A: What is health and automobile?
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28. A belief or idea you consider important or desirable.
Potpourri 100
A belief or idea you consider important or desirable.
Question
A: What is a value?
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29. The maximum amount you can charge on your credit card.
Potpourri 200
The maximum amount you can charge on your credit card.
Question
A: What is your credit limit?
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30. Potpourri 300
The financial institution that generally charges the highest interest rates on loans.
Question
A: What are finance companies?
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31. Potpourri 400
The FDIC insures each account in a federally chartered bank up to this amount.
Question
A: What are $250,000?
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32. If a check is lost or stolen, you would ask the bank for a _______.
Potpourri 500
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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33. Final Jeopardy Question
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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