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Unit 8 Review Financial Literacy Basics Flashcards | StudBud

Explore/Unit 8 Review Financial Literacy Basics

Which is a variable expense?

Which is a financial goal?

Unit 8 Review Financial Literacy Basics

19 terms·StudBud Administration

Test your knowledge on fundamental concepts of personal finance, from budgeting to investments and more.

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Questions 19

Answers

1
Which is a financial goal?
Buying a house
Eating out
Watching TV
Sleeping in
2
Which is a variable expense?
Insurance
Groceries
Mortgage
Rent
3
What is a liability?
Savings
Debt
Income
Asset
4
Which is a fixed expense?
Entertainment
Rent
Utilities
Groceries
5
What is a mortgage?
Home loan
Student loan
Personal loan
Car loan
6
What is compound interest?
Interest on principal
Interest on interest
Fixed interest rate
No interest
7
Which is a type of insurance?
Health
Entertainment
Groceries
Utilities
8
What is a credit score?
Loan interest rate
Bank account balance
Financial health measure
Monthly income
9
True or false: Savings accounts earn interest
True
False
10
What is an emergency fund?
Vacation savings
Shopping budget
Unexpected expenses fund
Retirement account
11
Which is a type of investment?
Stocks
Savings account
Loan
Credit card
12
Which is a retirement account?
Mortgage
Checking account
401(k)
Credit card
13
What is a budget?
Income source
Debt amount
Spending plan
Savings account
14
Which is a financial asset?
Debt
Expenses
Stocks
Liabilities
15
What is a credit card?
Income source
Investment
Borrowing tool
Savings account
16
Which is a tax deduction?
Utilities
Rent
Groceries
Charitable donations
17
What is a dividend?
Stock profit
Savings interest
Credit card fee
Loan interest
18
Which is a financial risk?
Budgeting
Savings account
Fixed expenses
Stock market crash
19
What is net worth?
Total expenses
Monthly income
Credit score
Assets minus liabilities