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#financial literacy #grade8
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
A small piece of ownership in a company
Deposit
Stock
Mutual Fund
Bond
2
The amount you are personally required to pay before your insurance covers the cost
Deductible
Benefit
Premium
Liability
3
A benefit that a person could have received, but gave up, to take another course of action
opportunity cost
opportunity gained
opportunity expense
lack of opportunity
4
Which of the following IS NOT an example of a personal skill
I was an all-star shortstop in little league
I love the outdoors
I can type over 80 words per minute
I have five holes in one
5
Someone with a professional degree can earn ____ times more than someone with a HS diploma
2
3
4
5
6
When deciding between two items, what should you take into consideration?
Any available discounts or sales
The unit price
All of these
The quality of the product
7
In order to avoid credit card interest, one should...
Pay the full balance each month
Make the payments online
Skip payments
Pay the minimum balance
8
What does liability insurance protect the purchaser from?
paying for damage to their car
paying for damage to their house
false accusations
risks of liabilities imposed by lawsuits and similar claims
9
Loans to a company or government
Bond
Stock
Mutual Fund
Deposit
10
A profit is when:
Revenue is less than expenses
Revenue is greater than expenses
Revenue is equal to expenses
None of these
11
Used to fund government services such as health care, national defense, and scientific programs
Medicare
Social Security
State Income Tax
Federal Income Tax
12
The money comes directly from the user's bank account when performing a transaction with this
Debit card
Direct deposit
Prepaid card
Credit card
13
Which of the following would be considered a want for most people?
Car payment
Groceries
Mortgage payment
Designer jeans
14
What is the first thing you should do when career planning?
Sign-up for an internship
Make a list of your job preferences and skills
Apply for as many jobs as possible
Have a mock interview with a family member or friend
15
Revenue is:
The amount of money a company pays its employees
The amount of money a company makes from sales
The amount of money a company has left after paying bills
The amount of taxes a company has to pay
16
Which savings account will grow your money the most?
Interest rate 2%, Interest compounded semi-annually
Interest rate 1%, Interest compounded annually
Interest rate 2%, Interest compounded daily
Interest rate 1%, Interest compounded daily
17
What is the first step you should take when opening a savings account?
Review the different account options at your bank
Go to the bank and fill out an application
Present your photo ID to the bank representative
Make your initial deposit
18
Why would the cost of milk increase from $3.00 to $3.50 over a year's time?
Inflation
The stock market
The market basket
Deflation
19
Depositing money into your savings account each month will help you...
pay off your debits
increase the amount of interest you earn on your savings
lower your interest rate
decrease the amount of interest you earn on your savings
20
Why would the value of a stock increase?
All of these
The industry is growing
There is a lot of demand for the product
The company is well-managed
21
Mr. Schmidt received five job offers in the last week. This is most likely because...
Supply and demand for teachers is the same
Demand for teachers is high
Supply for teachers is high
Demand for teachers is low
22
The longer you use credit responsibly, the higher your credit score.
True
False
23
Which of the following IS NOT a fixed expense?
Rent payment
Credit card payment
Student loans
Renter's insurance
24
Which factor has the biggest impact on a credit score?
Type of credit
Amount owed
Length of credit
Payment history
25
A fixed regular payment, typically paid on a monthly or biweekly basis
benefit
wage
stipend
salary
26
Which school is the least expensive for a Minnesota resident?
University of St. Thomas
Florida State University
University of Washington
Bemidji State University
27
Once a budget is set, it should not be revisited
False
True
28
The physical place where stocks are traded
Stock Broker
Stock Exchange
Stock Interchange
Stocking
29
When comparing prices of two brands, it's helpful to know...
what brand other people prefer
about any sales going on
what is the top selling brand
the unit price of each item
30
What increases your chances of a higher salary in the future?
College scholarships
Internships
Benefits
Education and training
