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CFM Final Review Questions with 100% Correct Answers Verified Latest Update 2024.
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CFM Final Review Questions with 100% Correct Answers Verified Latest Update 2024.
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CFM Final Review✅✅-Is a skill you have already developed
Ability -
Advantages of Credit - ✅✅-Easy, convenient, don't have to carry a lot of cash,
emergencies, protected, bonuses
Americans with Disabilities Act of 1990 - ✅✅-Protect the rights of individuals with
disabilities
✅✅
Annual fee, credit limit, finance charges, grace period, late fees, universal default
clause - -What types of things should you look for when shopping around for a
credit card?
April 15th (Tax Day) - ✅✅-Taxes have to be filed by:
Aptitude - ✅✅-Is a potential for learning a certain skill
Benefits - ✅✅-medical, dental, vacation days, sick days, 401k, pension, company
car, other bonuses
Blank Endorsement - ✅✅-an endorsement with just a signature on it
Budget - ✅✅-Is a plan for saving and spending money based on your income and
expenses
Career - ✅✅-series of related jobs or occupations built on a foundation of interest,
knowledge, training, and experience
Career Cluster - ✅✅ -Are just groupings of occupations; those groupings are based
on common knowledge and skills (i.e. Architecture & Construction, Business &
Administration, Education & Training, Law & Public Safety)
CD (Certificate of Deposit) - ✅✅ -A type of investment in which you deposit an
amount of money for a fixed amount of time at a stated interest rate, The longer the
investment period, the higher the interest rate will be
Charge Cards - ✅✅-given away by stores, similar to credit cards but is store
owned
Check Register - ✅✅-used to log all transactions that have to do with your
checking account, Keep track of all transactions and to check against banks records
, Checking Account - ✅✅-A bank account designed to hold funds for a short period
of time, Usually used to pay bills and make purchases.
Chronological Resume - ✅✅
-presents your experiences in reverse time order; use
when you have more experience and education
Civil Rights Act of 1964 - ✅✅ -Bans discrimination in employment based on race,
color, religion, gender or national origin
Claim -✅✅-Is a formal written request to an insurance company to pay for a loss
Cold Call - ✅✅-is a phone call to a prospective employer with whom you have had
no prior contact with
Collateral - ✅✅ -an asset such as the borrower's home or car. If borrower fails to
pay, the lender can take the collateral
Compensatory Time - ✅✅-time off from work rather than money for working
overtime
Contact List - ✅✅-Is a list of people you know who might be helpful in your job
search
Credit - ✅✅-Is money you can use now and must pay back later (i.e. loans, credit
cards)
Credit Card - ✅✅ -A small plastic card issued by a bank or other financial institution
that allows the cardholder to purchase goods or services at any business that
accepts the card, You must apply and be approved
Credit Limit - ✅✅-maximum amount allowed to charge on a credit card
Data - ✅✅ -refers to information, knowledge, ideas, facts, words, symbols, figures,
and statistics
Debit Card - ✅✅-Also called ATM card, checkcard, It is a card that you can use to
withdraw money directly from your checking account, Can use at an ATM (automatic
teller machine), Has a PIN, Good for making everyday purchases
Deductible - ✅✅
-The set amount you pay out of pocket before the insurance
company pays anything (Higher Deductible - Lower Premium, Lower Deductible -
Higher Premium)
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