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Money and Finance: How Smart Are You? (borrowed) Flashcards | StudBud
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Money and Finance: How Smart Are You? (borrowed)
Money and Finance: How Smart Are You? (borrowed)
16 terms
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StudBud Administration
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Short quiz to pre-assess students' financial literacy and perceptions about money.
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
When talking about money, what does
salary
mean?
The money you make per day.
They money you make per year.
The money you make per hour.
They money you make per week.
2
You should spend
All the money you make
More than you make.
Less than you make.
3
If you buy a $100 pair of shoes at 15% interest, how much do the shoes actually cost?
$100
$115
$100.15
$75
4
When you use a
credit card
, the money comes from
Your own savings account.
Who cares? It's MAGIC!
The bank. You're borrowing it.
Your own checking account.
5
If you are working a full-time, minimum-wage job, about how much do you make per year?
About $47,000.
About $7,000.
About $17,000.
About $27,000.
6
In 2014, what was the average salary for a high school dropout?
About $25,000/year.
About $75,000/year.
About $45,000/year.
About $15,000/year.
7
What is the current minimum wage in North Carolina?
There isn't one.
$10.50/hr
$7.25/hr
$5.00/hr
8
True or False: More Education = More Money
True
False
9
When talking about money, what is
interest
?
The money someone gives you.
Something interesting.
Extra money you pay back for a loan.
Money you pay back for a loan.
10
In 2014, what was the average salary for a high school graduate?
About $35,000/year.
About $55,000/year.
About $75,000/year.
About $25,000/year.
11
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.
12
What is the average interest rate charged by credit card companies?
35%
50%
5%
15%
13
According to finance experts, how much money
should
you have in savings?
Enough to cover 6 years of expenses.
$60
Enough to cover 6 months of expenses.
Enough to cover 6 weeks of expenses.
14
The best way to save money is
Put it in a savings account.
Keep it under your mattress.
Why would you save money?
Put it in a checking account.
15
When you use a
debit card,
the money comes from
Your own savings account.
IDK
Your own checking account.
The bank. You're borrowing it.
16
In 2014, what was the average salary for a college graduate?
About $87,000/year.
About $27,000/year.
About $57,000/year.
About $137,000/year.
