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HASD Financial Literacy Review Flashcards | StudBud
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HASD Financial Literacy Review
HASD Financial Literacy Review
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Review concepts learned in 9th grade #financial literacy.
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
The best time management allows for exercise
daily.
on weekends.
on Sunday.
only after playing 10 hours of Fortnite.
2
Your income is reported here on your W2:
Box 2
Line 6
Box 1
Line 10
3
Homeowners insurance will cover
A dog bite that occurred in your house.
A car accident.
Funeral costs.
your loss of income if your are injured and can't work.
4
Kelly Blue Book is a great resource for determining:
Inflation rates.
The value of a used car.
Mortgage rates.
Car leasing trends.
5
Consider the following when choosing an apartment:
Monthly rent.
All of the above.
Proximity to work.
Public transportation.
6
Investing in global stock funds outside the U.S. economy
Is illegal.
will help spread overall portfolio risk.
Is too risky for American investors.
Is a wise idea for your college savings.
7
If the bank is showing more money than you have recorded for your balance:
Call the bank immediately.
Someone is sneakily adding money to your account.
Look for check payments that did not clear the bank.
Adjust your check register to match the bank's.
8
Perhaps the best advice for investing is:
to open a savings account.
to save early and to save often.
to invest in the stock market.
to invest in bonds.
9
To protect against stock market losses, buy a stock that is:
inexpensive
from a start-up company
defensive - holding steady
overpriced
10
Mutual fund companies receive front end fees
Once the funds are sold.
When the fund is initially purchased.
Every time the fund grows.
At the end of each quarter.
11
A car loan vs. a lease
Provides lower monthly payments.
Offers unlimited freedom on the miles you drive each year.
Is usually a shorter term.
Allows you to drive the car for only the loan term years.
12
The US government official retirement age is:
25
59
55
67
13
The best time to begin saving for retirement is
different for everyone.
when you start your first job.
age 25.
once you hit age 30.
14
This form is provided by your employer and reports your income and tax withheld:
W4
paycheck
W2
1040
15
The federal government collects tax money to fund all of the following except:
bridges and roads
education
vbucks
national security
16
Emergency funds should be used only for unpredictable expenses such as the following:
Cell phone bill increase due to data overage
A new car
A trip to Cedar Point
Paying the mortgage due to an unexpected layoff
17
If you borrow $90 and have to pay back $100, what is the original $90 called?
interest
principal
fees
down payment
18
Less purchasing power with your money is known as:
Interest
Inflation
depreciation
equity
19
The tax form that you'll send to the federal government once you begin working is the:
W2
1099
1040EZ
W4
20
Which statement is true about the stock market?
It's risky but worth it if your time horizon is short.
It's volatility is predictable given enough information.
It has historically yielded average gains of 2% annually.
It's risky but worth it if your time horizon is long.
21
Your checkbook register and bank statement balances may not match because:
A check that you wrote did not clear the bank yet.
Your most recent paycheck was not received by the bank.
The bank paid you interest.
All of the above.
22
The bank routing number uniquely identifies a bank and may be found:
In the lower right-hand corner of a check.
In your check register.
In the lower left-hand corner of a check.
In the upper right-hand corner of a check.
