stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Pre-Assessment Flashcards | StudBud
Explore
/
Financial Literacy Pre-Assessment
Credit cards are bad.
What is the purpose of a budget?
Financial Literacy Pre-Assessment
10 terms
·
StudBud Administration
·
42 plays
Imported from external platform
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What is the purpose of a budget?
Both A and B
To track income and expenses
To limit spending
None of the above
2
Credit cards are bad.
True
False
3
Which of the following is a tax-deductible expense when itemizing?
Rent
Education payments
Charitable donations
Groceries
4
If I don't have money in my checking account then the payment will decline and I won't be charged.
True
False
5
Which of the following is a fixed expense?
Gas for car
Utility bill
Food expenses
Rent payment
6
Applying for a credit card at Best Buy to get 25% off my purchase is a good financial decision.
True
False
7
What is considered a "good" credit score?
100
740
580
670
8
What is the safest method of payment?
Credit card
Apple pay
Debit card
Cash
9
What is the purpose of a W4 form?
To determine withholding allowances
To calculate taxes owed
None of the above
To report income earned
10
What is a paystub's purpose?
It is a form that tells your employer how much taxes you owe.
It outlines the details of your check during a specific pay period.
It is deposited into your account and you can spend it.
All of the above
