stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Review Flashcards | StudBud
Explore
/
Financial Literacy Review
Financial Literacy Review
20 terms
·
StudBud Administration
·
568 plays
High School Economics
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Which of the following is NOT affected by your credit report?
Getting a job
Getting insurance
getting a payday loan
Getting a car loan
2
What is a benefit of owning a home?
easy to move from house to house
Absolute freedom to remodel the exterior of the house
ability to build equity and credit history
low maintenance costs
3
Which of the following is a benefit of renting instead of buying a home?
no maintenance or upkeep costs
freedom to remodel
investing in the equity of the property
value of your rental increases
4
Which of the following is a function of financial institutions?
All of the Above
Storing Money
Making Loans
Saving Money
5
When you receive a paycheck and put it in your bank account, which column do you record it in?
C
A
B
D
6
What is NOT a cost of declaring bankruptcy?
Negative effect on credit score
continued collection efforts, foreclosure and eviction
makes more difficult to make major purchases
Automatic rejection for future credit
7
Which of the following improves your credit score?
having only one credit card
maintaining a low balance on multiple credit cards
consolidating debt from multiple credit cards
maxing out multiple credit cards
8
Which of the following types of loans is used to purchase a house?
Home Equity
Personal Loan
Unsecured Loan
Mortgage
9
What type of account is high risk, has fees, but allows for chance of high reward?
Mutual fund
Checking
Savings
Money Market
10
Which type of student loan is described below?
Non-Federal Work Study
Private Student Loan
Federal Unsubsidized Loan
Direct Subsidized Loans
11
A Certificate of Deposit is different than a savings account because it requires:
frequent withdrawals
a small minimum deposit
penalties for early withdrawals
frequent deposits
12
Type of retirement account is a tax sheltered annuity plan for public employees?
401(k)
403(b)
Roth IRA
Traditional IRA
13
If you use your debit card at the mall, which line do you write the amount spent?
B
D
C
A
14
If paying $67.54 at Kroger for groceries, where do you write "Kroger"?
B
C
A
D
15
What is a creditor considering when checking your history of paying off previous debts?
Collateral
Capacity
Character
Certification
16
Which of the following accounts has the highest risk?
Money Market Account
Checking Account
Mutual Fund
Savings Account
17
Which type of retirement plan is tax-deferred and acts as an employee pension plan?
403(b)
Traditional IRA
Roth IRA
401(k)
18
Which of the following is considered an open-ended loan?
student loan
mortgage
auto loan
credit card
19
Which type of risk is described below?
failure of default
lost purchasing power
decline in value
liquidity
20
On which line do you spell out the amount spent, instead of writing numerically?
C
B
A
D
