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Personal Financial Literacy Flashcards | StudBud
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Personal Financial Literacy
Personal Financial Literacy
32 terms
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#personal #finance #Civics
Flashcards
32 cards
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Practice quiz
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Questions
32
Answers
1
The difference between credit and debits in an account
Balance
Bond
Vesting
Asset
2
the amount that an account is worth at any given time
cash value
cash value
cash flow
3
What is social security?
A federal system of old-age , survivors , disability.
payment for the use of someones money
a written contract
an agreement to provide goods
4
what is a check?
A written legal document for money
a plastic card used to deduct money from account
A company that makes loans
5
a type of insurance that covers the cost of medical expenses
house insurance
car insurance
health insurance
life insurance
6
the profit or loss you have n your investments
return
savings
checking
7
What are advantages of a credit card?
Carry less cash
Pay for purchases all at once
Keep records of spending
avoid interest charges if used properly
8
What is a loan?
money you earn by working
lending of money from one individual to another
9
What is a budget?
A written record of income
a organization
The process in which it takes to borrow money from a bank
insurance
10
A process in which a court takes over some of the finances leaving a person unable to pay bills
Bankruptcy
Credit card
Cash advance
deposit
11
Someone who owns property and rents it to another
principal
lessors
landlord
12
Where does money come from?
private banks in a fractional reserve banking system
linen
cotton
Trees
13
Something you owe for
Orgination fee
net worth
Revenue
Liability
14
net income ; earnings
rate of return
credit score
profit
debt
15
The chance that an investment has been misrepresented.
Not sure
Identity theift
M.I.A
Fraud risk
16
federal government program that helps people pay medical expenses
Medicare
goal
medicaid
17
What is net profit?
increase in value
sesnepxe latot sunim seunever latol
Total revenues minus total expenses
decrease in value
18
Credit card
the ability to use a credit card
money
a bank
Provides individuals with revolving open-end credit
19
unauthorized use of a person information
independent student
grant
identity theift
inflation
20
reduction in value overtime
depreciation
decrease
increase
acceleration
21
numbers you need in order to access an account
account number
budget
cash advance
balance
22
What is a revenue?
the way to spend money
Money you loose
financial aid
Money you've earn
23
The maximum amount you can borrow using a credit card
a loan
payday
cash
credit limit
24
What are expenses ?
money you earned
What you spend
a loan
Garria
25
What is personal finance?
a current medium of exchange in the form of coins
A defined management of money
Nothing
The business services offered by a bank
26
What are disadvantages of using credit cards?
Easily abused
There are no disadvantages
Can make your credit bad
Costly
27
Equity
Ownership in a company
I Don't know
something you own
income
28
A purposeful course of action or purpose in life that generally provides income
Job
Career
Work
Goal
29
what is a credit provider
Mustache
a joint bank account
The ability to use a credit card
An entity , Such as a bank
30
Can you skip taxes?
I don't know
maybe
yes
NO
31
What is net income
......
number 8
The same as question 6
The same thing as Net Profit
32
A form of student assistance based on academic achievement or another accomplishment
student aid report (SAR)
financial aid
scholarship
