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Final Review
Final Review
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StudBud Administration
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Financial Literacy Review #finance #personal #financialliteracy
Flashcards
21 cards
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Practice quiz
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Questions
21
Answers
1
Which is like an IOU (loaned money)
mutual funds
bonds
tax deferred
stocks
2
When you earn money on a sale of an asset
dividend
capital gain
net worth
gross pay
3
The amount you pay to have an insurance plan
down payment
premium
interest
fiat money
4
Return on your portfolio depends on your
assets / debt
income / level of education
career / number of family members
age / risk tolerance
5
Credit Card companies MUST be sure you UNDERSTAND the interest rates.
true
false
6
You earn more money if you
have a big savings account and keep credit card debt
pay off your credit card debt but have small savings
7
Credit Card companies must be sure to inform you of the terms and conditions.
false
true
8
You are publicly traded when your stock is
sold in the secondary market
bought and sold in a full service brokerage
sold in an IPO
sold in the primary market
9
Paying off your credit card in a grace period, you create a short-term free line of credit.
false
true
10
Which will earn you the LEAST typically?
mutual funds
bonds
stocks
CDs
11
Supply of houses is up, demand is down...prices go
up
down
12
We value dollars because the government orders we accept it for value as payment
discount rate
monetary policy
inflation
fiat money
13
Simple interest is
100, 110, 120, 130
100, 115, 135, 165, 180
100, 110, 121, 133
14
Financial Plans are like a blue print. Which is NOT why...
You can pay someone to help you build it
You can change it
You can sell it to someone else
You can set goals
15
You won't pay interest on credit card debt as long as you pay it off in full that same month
false
true
16
The amount of money you owe on a loan (not interest)
Principal
Interest Rate
Premium
Collateral
17
Experts like Dave Ramsey want you to have this many months of savings to cover expenses
1 - 3
7-9
1 year
3 - 6
18
You pay taxes when you withdraw your money
tax deductible
tax deferred
variable
fixed
19
A loan equals the difference between the ______ and the total price of the asset
down payment
collateral
interest
principal
20
IPO
initial principal order
identifying private ordering
initial public offering
initial price offer
21
Make sure your checkbook numbers match your bank account numbers
inflow
overdraft
summarize
reconcile
