stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Basic Literacy-(credited to YMM) Flashcards | StudBud
Explore
/
Financial Basic Literacy-(credited to YMM)
Financial Basic Literacy-(credited to YMM)
18 terms
·
StudBud Administration
·
25 plays
Financial Basic Literacy for Youth
Flashcards
18 cards
F
Practice quiz
P
Host live
L
Questions
18
Answers
1
Select the response that does NOT apply to taxes the government collects from people.
Emissions
Property
Federal
State
2
Which of the following is NOT a correct way save?
Spend more than you earn
Set up a direct deposit to your savings
Make a budget
Set a savings goal
3
Which account is NOT a type of savings?
Money Market
Certificate of Deposit (CD)
Traditional
High-Yeild
4
The avalanche method - choosing the lowest interest rate by working your way up to being debt free.
False
True
5
Identify a most common type of interest rate:
Public Interest
Variable
Annual Percentage Rate (APR)
Loan Payoff
6
Generational poverty can impact multiple cycles within families or communities.
False
True
7
Bonds are loans giving to a company or government of promised profit over time.
True
False
8
Which of the following is NOT a type of investments
Variable
Stocks
Exchanged - Traded Funds (ETF)
Bonds
9
Stocks are buying full ownership of the company.
False
True
10
Investing is buying assets with the expectation of gaining profit over time.
False
True
11
If you as an investor lend $1000 in bonds at 5% interest, what is the dollar amount you would gain annually?
$50
$100
$150
$75
12
What are SMART goals as a result of the presentation?
Specific, Measurable, Attainable, Relational, and Time-based
Specific, Measurable, Attainable, Reoccurring, and Time-based
Specific, Measurable, Autonomous, Reputable, and Time-based
Specific, Measurable, Attainable, Relevant, and Time-based
13
Why is budgeting important?
All are important
Helps you save money
Relieves finanacial stress
Prepare for emergencies
14
Which of the following is NOT considered a main type of insurance?
Life
Medical
Car
Credit
15
Which step is optional for opening or using a checking account?
Gather your information
Use your account
Make opening deposits
Complete application and sign paperwork
16
Which of the following does NOT apply to the Snowball method when paying off your debt?
Pay as much as financial possible into the smallest
Look at debt from smalls to the largest
Provides satisfaction with seeing debts disappear
Prioritize high interest rate
17
Only secured loans are given to people in one of the following credit range:
300 - 650
699 - 749
750 - 850
799 - 800
18
Checking accounts are held by a bank and or credit union.
True
False
