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Unit 3 Review Financial Literacy
Unit 3 Review Financial Literacy
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Financial Literacy Unit 3- Investments, Depository Institutions
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What is float time?
Time that it takes for the checks to come in the mail
Time that it takes for you to write a check
Time that it takes for a check to come out of your account
2
Which of the following is NOT a type of transaction you would write in a check register?
DC
ATM
WTHDRWL
DEP
3
What is the difference between direct deposit and direct payment?
Direct payment is when you make payments automatically
Direct deposit is when you make payments automatically
4
What is liquidity?
How quickly your assets can be converted to cash
How quickly your debt is paid off
How quickly it takes to get paid from your job
5
Which of the following accounts has the potential to earn more interest?
Checking Account
Savings Account
6
Why should you have a diverse investment portfolio?
You could lose money
It is not smart to have a diverse investment portfolio
If any investments fail, you haven't lost all of your money
You are able to have less risk
7
What is the equation for rate of return?
Money earned/total investment=rate of return
Total invesment/Money earned=rate of return
72/investment=rate of return
8
How much are you responsible for if you lose your debit card and report it between 2-60 days?
$0
$5000
$50
$500
9
What is the relationship between risk and investment?
The higher the risk, the higher the potential return
The lower the risk, the higher the potential return
10
What is the owner of a stock called?
Stockowner
Shareholder
The first two options
Stockholder
