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Money and Finance: How Smart Are You? Flashcards | StudBud
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Money and Finance: How Smart Are You?
Money and Finance: How Smart Are You?
17 terms
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StudBud Administration
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1,241 plays
Short quiz to pre-assess students' financial literacy and perceptions about money.
Flashcards
17 cards
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Practice quiz
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Questions
17
Answers
1
What the best way to make sure you're smart with your money?
Never spend more than you earn.
Never spend money on anything.
Borrow money from your parents.
Buy the most awesome things with your money.
2
When you use a
credit card
, the money comes from
Who cares? It's MAGIC!
The bank. You're borrowing it.
Your own savings account.
Your own checking account.
3
In 2014, what was the average salary for a high school graduate?
About $75,000/year.
About $55,000/year.
About $35,000/year.
About $25,000/year.
4
The best way to save money is
Put it in a savings account.
Keep it under your mattress.
Put it in a checking account.
Why would you save money?
5
True or False: More Education = More Money
True
False
6
When talking about money, what does
salary
mean?
The money you make per hour.
They money you make per week.
The money you make per day.
They money you make per year.
7
When you use a
debit card,
the money comes from
IDK
The bank. You're borrowing it.
Your own checking account.
Your own savings account.
8
If you are working a full-time, minimum-wage job, about how much do you make per year?
About $7,000.
About $47,000.
About $27,000.
About $17,000.
9
How much does the average family in the US have in savings?
About $16,000.
About $60,000
About $6,000.
Nothing.
10
What is the average interest rate charged by credit card companies?
15%
50%
35%
5%
11
In 2014, what was the average salary for a high school dropout?
About $45,000/year.
About $75,000/year.
About $15,000/year.
About $25,000/year.
12
If you buy a $100 pair of shoes at 15% interest, how much do the shoes actually cost?
$100.15
$115
$100
$75
13
According to finance experts, how much money
should
you have in savings?
Enough to cover 6 months of expenses.
Enough to cover 6 weeks of expenses.
$60
Enough to cover 6 years of expenses.
14
What is the current minimum wage in Illinois?
$10.50/hr
There isn't one.
$8.25/hr
$5.00/hr
15
You should spend
More than you make.
All the money you make
Less than you make.
16
When talking about money, what is
interest
?
Something interesting.
The money someone gives you.
Extra money you pay back for a loan.
Money you pay back for a loan.
17
In 2014, what was the average salary for a college graduate?
About $57,000/year.
About $137,000/year.
About $27,000/year.
About $87,000/year.
