Intermediate English Translation: Answers to the Quiz on Personal Finance190

Introduction

In the previous installment of this series, we explored some common financial terms and concepts in English. To test your understanding, we provided a short quiz. In this article, we'll go over the answers to the quiz, further expanding your vocabulary related to personal finance.

Question 1: What is the term for the amount of money you have left after paying all your expenses?

Answer: Disposable income

Question 2: What is a financial plan called that outlines your financial goals and how you intend to achieve them?

Answer: Financial roadmap

Question 3: Which type of account allows you to withdraw money easily and often?

Answer: Checking account

Question 4: What is the term used to describe the value of your investments after subtracting any fees and expenses?

Answer: Net asset value (NAV)

Question 5: What is a type of investment that pays regular interest payments to the investor?

Answer: Bond

Question 6: Which investment option is considered less risky but also offers lower returns?

Answer: Conservative investment

Question 7: What is the term used to describe the process of gradually increasing the amount of money you invest over time?

Answer: Dollar-cost averaging

Question 8: Which type of insurance covers unexpected events, such as accidents or illnesses?

Answer: Casualty insurance

Question 9: What is the term used to describe the maximum amount of money you can borrow on a credit card?

Answer: Credit limit

Question 10: Which type of loan typically has a shorter repayment period and higher interest rates?

Answer: Short-term loan

Additional Vocabulary

Here are a few additional terms related to personal finance that may be useful:
Asset allocation: The distribution of your investments across different assets, such as stocks, bonds, and cash.
Capital gains tax: The tax you pay on the profit you make when you sell an investment.
Diversification: The practice of investing in a variety of assets to reduce risk.
Emergency fund: A savings account set aside for unexpected expenses.
Financial literacy: The knowledge and skills needed to make informed financial decisions.

Conclusion

This quiz and the additional vocabulary provided in this article should have expanded your knowledge of personal finance in English. By understanding these terms and concepts, you'll be better equipped to manage your finances and make informed financial decisions.

2025-01-06

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