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Family Night - April Flashcards | StudBud
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Family Night - April
Family Night - April
10 terms
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StudBud Administration
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9 plays
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Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What is a budget?
A loan from a bank
A government financial aid program
A type of bank account
A plan for spending and saving money
2
What is a stock?
A loan from a bank
A share in the ownership of a company
A type of savings account
A government bond
3
What is a credit score?
A rating of your creditworthiness
A measure of your income
A summary of your bank account balance
A score on a standardized test
4
What is the purpose of an emergency fund?
To cover unexpected expenses
To invest in stocks
To pay off student loans
To save for a vacation
5
Which of the following is a fixed expense?
Entertainment costs
Utility bills (varies month to month)
Rent or mortgage payments
Grocery bills
6
What is compound interest?
Interest calculated on the principal and accumulated interest
Interest calculated only on the principal amount
Interest that decreases over time
Interest that is paid only once a year
7
What does it mean to "live within your means"?
Earning a high salary
Spending less than or equal to your income
Only using cash for purchases
Spending more than you earn
8
What is the main purpose of insurance?
To invest in the stock market
To pay for everyday expenses
To protect against financial loss
To increase your wealth
9
What does APR stand for?
Annual Payment Requirement
Annual Percentage Rate
Average Payment Rate
Automatic Payment Refund
10
Which of the following is a benefit of having a good credit score?
Limited access to financial products
Easier approval for loans and credit cards
Higher interest rates on loans
More fees on bank accounts
