The rule of 72 is useful in calculating the:

Time required to double an investment

Turning assets quickly into cash

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Financial Literacy Review 2

15 termsStudBud Administration119 plays

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Questions 15

Answers

1
A loan to be repaid in a certain number of payments with a certain interest rate is a(n):
Installment Loan
Collateral
Unsecured Loan
Revolving Credit
2
The max amount you can charge on a credit card is called the
Collateral for the card
Credit ratio
Capacity
Credit limit
3
Money in a savings account is protected by the FDIC or NCUA to what amount?
$25,000
$250,000
$100,000
$10,000
4
The rule of 72 is useful in calculating the:
Fluctuations of the stock market
Interest an investor needs to earn to reach a goal
Time required to double an investment
Age of money
5
The forms you complete when starting a new job are:
W-4 and Social Security
I-9 and W-4
W-2 and W-4
I-9 and W-2
6
Liquidity is:
Buying stocks
Spending freely
Turning assets quickly into cash
Investing interest earning in mutual funds
7
Liability insurance protects you against:
Property Damage
Lawsuits
Sickness
Personal Injuries
8
Which of the following is NOT considered when calculating the payment of an auto-loan?
property tax
length of the loan
sales tax
interest rate
9
What percent of your budget SHOULD you be saving each month?
25%
5%
10%
15%
10
Which of the following agencies provide free credit reports for consumers?
Equifax, credit unions, landlords
Credit Unioins, Banks, Loan officers
Experian, credit reporters, universities
TransUnion, Experian, Equifax
11
The process of earning interest on interest is:
Rate of return
Compounding
Diversification
Interest Bearing
12
Which investment has low risk, a low rate of return, and is long-term?
Real Estate
Bonds
Mutual Funds
Stocks
13
What percentage of your gross pay is withheld for Medicare?
1.45%
31%
6.2%
5%
14
The profit from an investmet is:
Liquidity
Return
Inflation
Risk
15
Which of the following sources of information can be used to steal your identity?
hunters safety card
smiths rewards card
report card
drivers license

Financial Literacy Review 2 Flashcards | StudBud

Financial Literacy Review 2

15 termsStudBud Administration119 plays

Imported from external platform

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
A loan to be repaid in a certain number of payments with a certain interest rate is a(n):
Installment Loan
Collateral
Unsecured Loan
Revolving Credit
2
The max amount you can charge on a credit card is called the
Collateral for the card
Credit ratio
Capacity
Credit limit
3
Money in a savings account is protected by the FDIC or NCUA to what amount?
$25,000
$250,000
$100,000
$10,000
4
The rule of 72 is useful in calculating the:
Fluctuations of the stock market
Interest an investor needs to earn to reach a goal
Time required to double an investment
Age of money
5
The forms you complete when starting a new job are:
W-4 and Social Security
I-9 and W-4
W-2 and W-4
I-9 and W-2
6
Liquidity is:
Buying stocks
Spending freely
Turning assets quickly into cash
Investing interest earning in mutual funds
7
Liability insurance protects you against:
Property Damage
Lawsuits
Sickness
Personal Injuries
8
Which of the following is NOT considered when calculating the payment of an auto-loan?
property tax
length of the loan
sales tax
interest rate
9
What percent of your budget SHOULD you be saving each month?
25%
5%
10%
15%
10
Which of the following agencies provide free credit reports for consumers?
Equifax, credit unions, landlords
Credit Unioins, Banks, Loan officers
Experian, credit reporters, universities
TransUnion, Experian, Equifax
11
The process of earning interest on interest is:
Rate of return
Compounding
Diversification
Interest Bearing
12
Which investment has low risk, a low rate of return, and is long-term?
Real Estate
Bonds
Mutual Funds
Stocks
13
What percentage of your gross pay is withheld for Medicare?
1.45%
31%
6.2%
5%
14
The profit from an investmet is:
Liquidity
Return
Inflation
Risk
15
Which of the following sources of information can be used to steal your identity?
hunters safety card
smiths rewards card
report card
drivers license