Financial Literacy Final Exam

A lease is a binding __. Once you have signed it, it is a legally binding __ with obligations both you must abide by.

Credit cards must be paid back __.

Investing in different types of financial assets because you will lower your risk if one investment doesn't do as well.

The amount of money the buyer pays before taking out a loan for the remainder of the cost.

The monetary payment received for goods and services, or from other sources, such as rents or investments.

Some examples of Peer-to-peer digital payment accounts include:

A type of financial fraud that involves the theft of vital personal information. What 3 things are needed?

The Bright Futures Scholarship is funded through the Florida Lottery. To qualify for Bright Futures, you must:

Summary of a person's education, experience, & work skills that are used when searching for a job/ applying to college.

The actual amount of money received after taxes and other payroll deductions have been subtracted from gross income.

Interest earned not only on the principal (monthly amount deposited) but also the interest that is already earned.

Debit cards remove the money out of your checking account __.

Price a financial institution pays for using a saver's money & is normally expressed as an annual % of the amount saved.

Money for college expenses that is earned through an application and qualification process.

A summary of your financial history. Potential lenders will use this to evaluate whether you are a good credit risk.

Your income will depend on your __ and your __.

The action or process of interacting with others to exchange information and develop professional or social contacts.

The portion of losses you agree to pay in the event of an accident. What you pay out of your pocket for an accident.

A purchase card that pays for a transaction by deducting the cost directly from your bank account.(Like writing a check)

A person who organizes, operates, and assumes the risk of a business venture.

When you use a mobile device or the internet you leave a trail of digital footprints that can be __ back to your device.

A certificate issued by the government that promises to repay borrowed money to the lender at a fixed rate of interest.

Allows you to get medical care when you need it by providing coverage for services to keep you healthy.

Unlike loans, these do not have to be paid back. To qualify you must have financial need and maintain a 2.0 GPA.

What are some of the methods you can use to protect yourself from identity theft?

The amount an insurance company pays to you or your beneficiary when you file a claim.

Include a variety of instruments, such as stocks, bonds, bank deposits, and mutual funds.

A card, like Visa or Mastercard that lets you access instant credit to make purchases or obtain cash advances.

If you pay less than the full __ each month, interest rates on credit cards go up fast.

Payment for use of someone else's property. Usually paid monthly and in advance, for the month following the payment.

Money that is borrowed from the Federal Government Student Loan program to pay for college related educational expenses.

Interest rates and monthly payments are predetermined prior to your loan acceptance. These amounts will not change.

A way for the public to trade (buy and sell) shares of a stock.

Certificate a bank issues to person who deposited money in an account for a specific time. Penalty for early withdrawal.

Resource with economic value w/ the expectation that it will provide a future benefit.(cash, stock, buildings, property)

To calculate your down payment, multiply by __.

Only form that a student and parent must fill out to apply for federal student aid, such as grants, scholarships, loans.

A method of savings offered by banks that comes with a fixed term & a fixed interest rate. Early withdrawal = penalities

A record of everything you do online - social media, surf websites, answer quizzes, or sign into apps/games.

A financial summary of anticipated income and expenditures.