Please i have quiz next week i need help for all of this question and please make suer befoer you answer the question.

Thank you.

QUIZ

1- What gives money its value?

A- Supply and demand.

B- Backed by gold.

C- Backed by silver.

D- Present values.

2- What is paper money backed by?

A- Gold.

B- Gold and silver.

C- The full faith and credit of the U.S. government and the Federal Reserve Bank.

D- Silver.

3- When interest is added to your initial deposit and you begin to earn interest on interest,

this is known as

A- the annual percentage rate.

B- the time value of money.

C- compounding.

D- the future value of money.

4- What do you call a stream of equal payments received or paid at equal intervals in time?

A- A lump sum

B- An annuity

C- Discounting

D- Future value

5- Using mathematical formulas, financial tables, or a financial calculator, you can find the

A- future value of an amount invested today.

B- present value of an amount you will receive in the future.

C- future value of an amount you deposit annually.

D- present value of an amount if you make annual payments.

E- all of the options are correct.

6- What is a lump sum?

A- A single, one-time payment

B- All of your money is put together in a pile

C- A series of equal payments that are made at equal intervals over time

D- The value of an amount based on the interest rate

7- Which of the following correctly defines future value?

A- The current value of a said future amount based on the interest rate and time in the account.

B- The value of an amount at a future date based on the interest rate and time in the account.

C- A single, one-time payment.

D- A series of equal payments that are made at equal intervals over time

8- All 50 states and the District of Columbia sponsor at least one type of this savings, which is when funds are set aside to go toward post-secondary education expenses.

A- Certificate of deposit

B- 529 plan

C- Savings bonds

D- 401(k) plan

9- When opening a savings account it is important to consider

A- APY.

B- minimum balance.

C- fees.

D- all of the options are correct.

10- You can use the money in a 529 plan for all except

A- tuition.

B- transportation to and from college.

C- room and board.

D- books and mandatory fees.

11- In banking terminology, CD stands for

A- compact disk.

B- cash on deliver.

C- cash deposit.

D- certificate of deposit.

12- A checking account at a commercial bank is called a

A- share draft account.

B- negotiable instrument.

C- financial intermediary.

D- demand deposit account.

13- Which of the following financial institutions qualify as a financial intermediary?

A- A commercial bank

B- A credit union

C- A savings institution

D- All of the options are correct.

14- The FDIC for banks and NCUSIF for credit unions insure savings accounts up to what amount?

A- $50,000

B- $100,000

C- $200,000

D- $250,000