Name______________________ Goals What do the letters in SMART stand for? S—

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Name______________________ Goals What do the letters in SMART stand for? S—
What do the letters in SMART stand for?
Write one short-term goal, one intermediate goal, and one long-term goal for
yourself using the SMART Criteria.
Keith’s Budget Assignment
Directions: Complete the monthly budget for Keith using the information below. Make sure to
calculate net income for your budget. Also, calculate how much his car and school loans are going to
be. Lastly, calculate his yearly budget after you are done with the monthly budget.
Gross Income (month) – $8,850
School Loans – Keith attended Villanova University for 4 years
Car Loan -- Keith purchased a 2010 Toyota Rav4 with a trim of 4dr (2.5L 4cyl 4A). He put $3,500 down
on it.
Rent -- $1,150
Utilities -- $270
Iphone -- $53
Groceries -- $355
Gasoline -- $220
Insurance -- $300
Food -- $170
Entertainment -- $87
Misc. -- $45
Car Repairs -- $80
Shopping -- $90
Gross Income
Less: Total Deductions
Total Income
Fixed Expenses
Total Fixed Expenses
Variable Expenses
Total Variable Expenses
Total Expenses
Cash Surplus
Directions: Match the letter of the description with the corresponding investment that goes along
with it. Take your time!
____Savings Account
a. Your money goes into a bank and can be
withdrawn at any point
b. Backed by US Government Full Faith and Credit
____ US savings bond
c. Can be anywhere from 3 months to 6 years
____ Corporate bond
d. A market for short-term debt instrument
(several months to a year)
____ Money Market
e. Bonds issued by an American city, local
government, or local agency
____ Municipal Bonds
____ Mutual Fund
f. Bonds issued by a publically owned company
g. 3 kinds: open-end, unit investment, close-end
____ Certificate of Deposit (CD)
h. Normal shares that are purchased for
i. Things that can gain value over time such as
baseball cards
j. Investment where you work closely with banks
and has not been as productive recently
k. Stocks that are senior to the normal shares
l. Shares that sell for under $1.00
M. Basic resources such as agricultural products
(iron, ore, crude oil, coal, salt, sugar)
____ Common Stock
____ Preferred Stock
____ Real Estate
____ Collectibles
____ Penny Stocks
Directions: Put the letter of the definition next to the term that correlates with it. Take your time.
1. _____ Peril
2. _____Claimant
3. _____Health Insurance
4. _____ Car Insurance
5. _____Exclusive
6. _____Deductible
7. _____ Underwriting
8. _____ Actual Cash Value
9. _____ Life Insurance
10. _____ Long-term disability insurance
a. Things that are not covered under the
b. It is the value of an item at the time it was
damaged by the insured event.
c. It is the amount you are required to pay
before the insurance company begins to
d. It is the cause of the possible loss or
e. The type of insurance that can cost you
the most money to have, but save you the
most money in the long run
f. A person who makes a claim against a
party based on legal liability
g. The process of selecting risks for insurance
and determining in what amounts and one
on what terms the insurance company will
h. The type of insurance required by law in
this state
i. The type of insurance that helps with
expenses if a family member is not around
j. The type of insurance that helps cover the
paychecks that you would be missing if
you can’t work
Directions: Fill in the blank with the term that best completes the sentence
18. The amount of traffic accidents that occur in the United States each year is over ______ million.
19. The percentage of at risk homes that have flood insurance is ______%
20. The most under-purchased type of insurance is _______-_______ _____________ insurance.
21. Lying to an insurance company in order to receive money is called insurance __________.
22. The type of insurance that is required in the state of New Jersey is _____ insurance.
23. Approximately _____ million Americans are currently without health insurance. (answer needs to be
within 5 million to be correct)
24. Home insurance should only be purchased if you ____ the house.
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