A desire for something non-essential

What is Opportunity Cost?

The loss of something when an alternative is chosen

The process of creating a plan to spend your money, The process of creating a plan to save your money, Forcasting Income and Expenses

Money left over after expenses are deducted from income

In terms of fraud, what is a red flag?

Mail that varies from normal and asks for your info

To pay out or disburse assets for goods or services

What is Financial Literacy?

Knowledge to make decisions with your financial resources.

What is the time value of money?

Money now is worth more than that same amount late

What is Financial Fraud?

Deception involving financial transactions for personal gain

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Financial Literacy Session 1 Quiz

18 termsStudBud Administration47 plays

FIN LIT

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Questions 18

Answers

1
It is recommended you save at least what percent of your income:
0%
15%
-50%
10%
2
What is a want?
Air
To require something because it is essential for survival
A desire for something non-essential
A strain or heavy demand
3
What is Opportunity Cost?
A payment
The loss of something when an alternative is chosen
A person's role in society
Something accepted as payment for goods and services
4
What is Budgeting?
Harvey's makes a hamburger a beautiful thing
The process of creating a plan to spend your money
The process of creating a plan to save your money
Forcasting Income and Expenses
5
Is Trump a "self made" man?
Yes
Maybe
Unicorn
No
6
What is Saving?
Money left over after expenses are deducted from income
A system of rules that are created and enforced
GOD. FAMILY. FOOTBALL.
Process of facilitating learning/acquisition of knowledge
7
In terms of fraud, what is a red flag?
Shamwow
Cloth oblong or square, attachable by one edge to a pole
Mail that varies from normal and asks for your info
A red material used as a warning of danger or bulls
8
What is Spending?
A snack that smiles back
Deferred consumption
Marketing communication using messages to promote a product
To pay out or disburse assets for goods or services
9
You should:
spend more than you earn
Not spend more than you earn
spend 100% of your income
spend nothing
10
People save to:
make kahoots
Retire
Work 24-7
Have no money
11
What is Financial Literacy?
Area of production, trade and consumption of goods/services
A financial charge by a governmental organization
Knowledge to make decisions with your financial resources.
When money, is owed by one party to a second party
12
What is the time value of money?
Money later is more valuable than the same amount now
Capitalism
Communism
Money now is worth more than that same amount late
13
Method of budgeting:
Microsoft excel
Minecraft
Phone apps
Playing Fortnite
14
Which do you need?
Food
Camer
Video Game ie. Fortnite
Netflix
15
What is a good credit/debit card code?
4321
7777
1835
1234
16
What is Financial Fraud?
Seizing the means of production
Actively looking for employment, but not being employed.
Deception involving financial transactions for personal gain
Alexandria Ocasio-Cortez's Tax Plan
17
We try to spend:
Dumb
Smart
Cold
Hot
18
What are the names of the student-teachers?
Evan, Derin, Caleb
Auston, Gavin, Caleb
Derin, Tim, Evan
Caleb, Evan, Obama,

Financial Literacy Session 1 Quiz Flashcards | StudBud