Adult Roles and Financial Literacy State Test Review- Strand 7

What does risk mean in regard to investments?

What is the recommended percent of income that one should save?

The first step in becoming financially independent is:

The money charged for using someone’s money is called:

Due to the effects of inflation, in the future a dollar will be worth...

What interest rate would one need to earn in order to double an investment in 6 years?

What does it mean to "pay yourself first"?

Which investment has low risk, a low rate of return, and is long-term?

Spreading your money among different types of savings and investments is called...

The basic rule of a risk-to-return relationship is that the:

A ___ is a person who guarantees a loan for the original borrower & is responsible for the debt

The process of earning interest on interest is...

___ is when goods, services, or money is received and promised to pay back in the future.

If one can earn 9% interest on an investment, about how long will it take to double in value?

Which of the following investments has the highest risk and highest potential rate of return?

The rule of 72 is useful in calculating the:

If your total income is $1,800 a month, what is the RECOMMENDED MAXIMUM to budget for rent?

A common mistaken belief about retirement is:

Which is NOT an investment service?

When evaluating investment alternatives you should remember:

Bankruptcy:

Which of the following will help you establish a good credit history?

Which of these is NOT a consequence of declaring bankruptcy?

Take-home pay (paycheck after deductions) is also called:

How much would you have to invest per month if you saved 12% of your $500 monthly income?

When shopping for an auto loan, the amount of the actual loan for the car is: