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Duplicate of Introduction to Financial Literacy Flashcards | StudBud
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Duplicate of Introduction to Financial Literacy
Duplicate of Introduction to Financial Literacy
30 terms
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StudBud Administration
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4 plays
Units 1 - 4
Flashcards
30 cards
F
Practice quiz
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Host live
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Questions
30
Answers
1
Does the Monopoly Man wear a monocle?
Yes
No
2
What are two ways that some great investors research stocks?
go online to check out recent presentations to investors
talk with company employees for insider information
rely heavily on advice from stock analysts
read recent news releases
3
Financing means you take out a loan in order to make a purchase, then pay it back over time
False
True
4
Compared to teens in other countries, American teens are above average in financial literacy
True
False
5
What is one way that banks earn their money?
employee salaries paid by the government with citizen taxes
lend money at higher interest rates than what they're paying
print money for the economy & keep some for daily operations
customer money for daily expenses & company money for bills
6
Which show is this clip from
The Office
Parks and Recreation
30 Rock
How I Met Your Mother
7
Owning a home is one of the biggest investments someone will ever make
False
True
8
What is one reason why professional athletes are filing for bankruptcy?
delayed payments
no worker's compensation for in-game injuries
identity theft
they just don't understand their finances
9
What is one reason for why gold is so special?
can be melted at a lower temperature than other metals
shine and texture are cleaner than other metals
only royalty/people in power were allowed to have it
not prone to corrosion over time
10
Which show is this character from
American Dad
Bob's Burgers
The Simpsons
Family Guy
11
"Barter" is another word for
Fiat
Gold
Selling
Trading
12
What is a "Savings Account"
keep money in a bank and earn a small amount of interest
offers more bank options (making purchases or paying bills)
borrow money from your bank for purchases, then pay it back
13
What percentage of people reported they don't have enough savings to last at least six months?
30%
60%
15%
50%
14
Credit and debit cards are essentially the same thing since they are both are payment cards
False
True
15
Becoming financially literate means having the _ to make _ with all of your financial resources
experience and advice; wise monetary investments
money and know-how; educated assumptions
skills and knowledge; informed and effective decisions
16
How much credit card debt does Peter Griffin have
$30,000
$300,000
$3,000
$300
17
Becoming financially literate allows you to __
live a life within your financial means
cash in your $1 for 100 pennies and scatter them everywhere
go from stoked to broke
buy happiness
18
Select one of the major decisions you face when you earn a dollar
Financing
Invest
Banking
Checking Account
19
Whether you open a savings account or get a credit card, you always want high interest rates
True
False
20
Mortgages are used to finance a...
smartphone
home
college tuition
car
21
When you buy stock, you are buying a piece of the company for the chance to make more money
False
True
22
Investing presents a great risk because a strong return is not always guaranteed
True
False
23
A high credit score means you are likely to pay back loans in full and on time
True
False
24
If you are going to finance a purchase, what do you need to find out about the loan first?
Will I be able to use this loan to pay off other loans?
Why is the APR the same as the interest rate?
Can I max out my credit cards to pay back the loan?
How long will I be paying back this loan?
25
Becoming financially literate is only important to professional athletes
False
True
26
When it comes to buying stocks, the goal is to...
Be patient! Wait for stock prices to double before investing
Buy low! Hold for a time, then sell for more than you paid
Diversify! Buy a lot of high risk stocks
Do your homework! Follow the advice of the professionals
27
Government Bonds are essentially considered risk-free
False
True
28
What is an example of a "Good"
food
doctor visit
haircut
car repair
29
If your GPA falls below a 2.0, you can still take out a private loan
False
True
30
What percentage of Americans reported they are currently living paycheck to paycheck?
10%
70%
25%
40%