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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Questions
15
Answers
1
What is "getting the highest value for the money spent?"
optimizing
trump
hillary
economizing
2
What is the likely hood of a risk actually resulting in a loss?
premium
15 minutes can save you 15 percent or more on car insurance
self insurance
probability
3
how old do you have to be to co-sign?
21
500
2
82
4
wht balance method = balance at the start of the period added to charges made durin the period?
previous balance method
sad balance method
average daily balance method
adjusted balance method
5
What is the decrease in general price levels?
demand pull inflation
deflation
inflation
productivity
6
What is the form used to file a federal tax return?
W2
W4
1040EZ
7
What are differences between planned income or spending and actual income or spending?
estimated expenses
variable expenses
fixed expenses
variances
8
Which of these is classified as earned income?
pensions
salaries and wages
dividends
royalties
9
What are money and items of value called?
liabilities
opportunity costs
assets
wants
10
What is a check called that is written with a date that will occur in the future?
today check
in a couple days check
postdated check
a long time ago check
11
what is the amount you must pay each time you use a medical service?
life insurance
co pay
health insurance
medical insurance
12
what is asking the bank to transfer money electronically from your checking to another account?
prepayment
automatic payments
wire transfer
online banking
13
What is inflation?
increase in general level of prices for goods and services
when prices are rising at a slow rate
prices are high but drop due to lower demand
prices rise so rapidly they are out of control
14
What is a demand deposit account in a bank?
checking account
credit card
debit card
savings account
15
what is the difference between your assets and liabilities?
budget
net worth
fixed expenses
variable expenses
