stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Ch 1 Personal Finance Review Flashcards | StudBud
Explore
/
Ch 1 Personal Finance Review
Ch 1 Personal Finance Review
20 terms
·
StudBud Administration
·
451 plays
A review of chapter 1 #personalfinance in the #Foundations book
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
The widespread financial insecurity of Americans is primarily because:
most Americans save a high proportion of their income
many people borrow in order to spend more than they make
incomes are low
savings rate of Americans is low
2
Personal financial success is primarily a result of:
managing your money behavior
winning the lottery
inheriting money from your parents
generous welfare and unemployment programs
3
Which is NOT a factor in becoming money smart?
manage your behavior with money
learn how to read your credit card statements
learn the language of money
have a knowledge of basic math
4
Why was the use of credit uncommon prior to 1917?
Borrowing money was generally not socially acceptable
all of the above
Laws prevented lenders from charging high interest rates
lending money to others was very profitable
5
An obligation of repayment owed by one party to a second party
credit
debt
loan
interest
6
a system by which goods and services are produced and distributed
economy
consumer
personal finance
financial literacy
7
the granting of a loan and the creation of debt; any form of deferred payment
credit
interest
consumer
economy
8
Personal finance is __% behavior and __% head knowledge
20, 80
50, 50
80, 20
idk
9
A jar of peanut butter changed in size from 18 oz to 14 oz. What is the percent decrease?
4%
16%
22%
10
Key components of financial planning include all of the following
except
:
regularly monitor and reassess your financial plan
allow your financial planner to make all your decisions
write out a detailed plan for accomplishing your goals
replace money myths with money truths
11
all the decisions and activities of an individual/family regarding money, such as budgeting
economy
interest
financial literacy
personal finance
12
A fee paid by a borrower to the lender for the use of borrowed money
loan
interest
debt
Consumer
13
Which of the following is a consequence of spending more than you make?
stress
all of the above
Missed opportunity to save and invest
a cycle of debt
14
the knowledge and skillset necessary to be an informed consumer and manage finances effectively
financial literacy
personal finance
economy
economy
15
The cost of apples dropped from $3.99/lb to $3.49/lb. Find the percent decrease in price.
25%
30.5%
12.5%
50%
16
Mark deposited $50 in his account. A year later his balance was $65. What is the % increase?
30%
20%
15%
25%
17
When it comes to personal finance, the math is easy. What's challenging is managing your:
behavior
friends
bank account
income
18
The football team scored 55 points one week, and 28 points the next week. Find the % decrease.
72%
65%
27%
49%
19
A person or organization that buys/uses goods or services
debt
credit
interest
consumer
20
Which of the following is NOT a true statement?
Americans learned to borrow amidst post-WWII prosperity
as banks made higher profits, they were willing to lend more
after 1970, consumer debt skyrocketed
the credit industry in America has not changed since 1917
