NEW YORK STATE FBLA
PERSONAL FINANCE
2012
PLEASE DO NOT OPEN THIS TEST UNTIL DIRECTED TO DO SO
Test Directions
1. Complete the information requested on the answer sheet.
PRINT YOUR NAME on the “Name” line.
PRINT the name of the event, PERSONAL FINANCE on the “Subject” line.
PRINT the name of your CHAPTER on the “DATE” line.
2. All answers will be recorded on the answer sheet.
Please do not write on the test booklet.
Scrap paper will be provided.
3. Read each question completely before answering. With a NO. 2 pencil,
blacken in your choices completely on the answer sheet. Do not make any
other marks on the answer sheet, or the scoring machine will reject it.
4. You will be given 60 minutes for the test. You will be given a starting signal
and a signal after 50 minutes have elapsed.
Tie will be broken using the last 10 questions of the test.
, 2012 NYS FBLA SLC 2
PERSONAL FINANCE
1. Which of the following transactions would likely be difficult to make without a credit card?
a. purchasing a car c. buying a house
b. reserving a hotel room d. buying groceries
2. Tammi wants to buy a new stereo system. She finds one for $500 at Stereo City. She withdraws $250 from her
account at First National Bank and obtains a loan from her parents for the rest of the amount. Then she
purchases the stereo. In this scenario, who is the debtor?
a. First National Bank c. Stereo City
b. Tammi d. Tammi’s parents
3. You must file your tax return by this date every year.
a. December 31 c. April 15
b. June 1 d. January 1
4. A check is written to Taylor Thomas. On the back of the check, Taylor writes “Pay to the order of Rose
Dryer,” then signs her name. What kind of endorsement is this?
a. blank endorsement c. special endorsement
b. partial endorsement d. restrictive endorsement
5. The more allowances you claim,
a. the longer you have to file your tax return.
b. the less tax you will have withheld from your paycheck.
c. the less your tax liability will be.
d. the more tax you will have withheld from your paycheck.
6. Rate Hours Worked =
a. Overtime Pay. c. Incentive Pay.
b. Net Pay. d. Gross Pay.
7. Which of the following would be considered the lowest risk investment?
a. a corporate bond c. real estate
b. an annuity d. a stock
8. A will written in a person’s own handwriting is called a
a. trust will. c. codicil.
b. simple will. d. holographic will.
9. When a bond issuer cannot meet the interest and/or principal payments, what has occurred?
a. bond default c. bond redemption
b. short selling d. hedging
10. Interest paid on the original principal plus accumulated interest is called
a. compound interest. c. adjustable interest.
b. value-added interest. d. yield.
11. Which of the following is a sales charge paid when you sell an investment?
a. a back-end load c. a capital gain
b. a front-end load d. a dividend
12. The person who cashes a check is called the
a. maker. c. demander.
b. payee. d. depositor.
PERSONAL FINANCE
2012
PLEASE DO NOT OPEN THIS TEST UNTIL DIRECTED TO DO SO
Test Directions
1. Complete the information requested on the answer sheet.
PRINT YOUR NAME on the “Name” line.
PRINT the name of the event, PERSONAL FINANCE on the “Subject” line.
PRINT the name of your CHAPTER on the “DATE” line.
2. All answers will be recorded on the answer sheet.
Please do not write on the test booklet.
Scrap paper will be provided.
3. Read each question completely before answering. With a NO. 2 pencil,
blacken in your choices completely on the answer sheet. Do not make any
other marks on the answer sheet, or the scoring machine will reject it.
4. You will be given 60 minutes for the test. You will be given a starting signal
and a signal after 50 minutes have elapsed.
Tie will be broken using the last 10 questions of the test.
, 2012 NYS FBLA SLC 2
PERSONAL FINANCE
1. Which of the following transactions would likely be difficult to make without a credit card?
a. purchasing a car c. buying a house
b. reserving a hotel room d. buying groceries
2. Tammi wants to buy a new stereo system. She finds one for $500 at Stereo City. She withdraws $250 from her
account at First National Bank and obtains a loan from her parents for the rest of the amount. Then she
purchases the stereo. In this scenario, who is the debtor?
a. First National Bank c. Stereo City
b. Tammi d. Tammi’s parents
3. You must file your tax return by this date every year.
a. December 31 c. April 15
b. June 1 d. January 1
4. A check is written to Taylor Thomas. On the back of the check, Taylor writes “Pay to the order of Rose
Dryer,” then signs her name. What kind of endorsement is this?
a. blank endorsement c. special endorsement
b. partial endorsement d. restrictive endorsement
5. The more allowances you claim,
a. the longer you have to file your tax return.
b. the less tax you will have withheld from your paycheck.
c. the less your tax liability will be.
d. the more tax you will have withheld from your paycheck.
6. Rate Hours Worked =
a. Overtime Pay. c. Incentive Pay.
b. Net Pay. d. Gross Pay.
7. Which of the following would be considered the lowest risk investment?
a. a corporate bond c. real estate
b. an annuity d. a stock
8. A will written in a person’s own handwriting is called a
a. trust will. c. codicil.
b. simple will. d. holographic will.
9. When a bond issuer cannot meet the interest and/or principal payments, what has occurred?
a. bond default c. bond redemption
b. short selling d. hedging
10. Interest paid on the original principal plus accumulated interest is called
a. compound interest. c. adjustable interest.
b. value-added interest. d. yield.
11. Which of the following is a sales charge paid when you sell an investment?
a. a back-end load c. a capital gain
b. a front-end load d. a dividend
12. The person who cashes a check is called the
a. maker. c. demander.
b. payee. d. depositor.
