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Financial Literacy Final Review Flashcards | StudBud
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Financial Literacy Final Review
Financial Literacy Final Review
30 terms
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StudBud Administration
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170 plays
#nefe #financialliteracy #personalfinance #investing #budget
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
I=PRT. $1,000 loan, $5% interest rate, 1 year. Interest =?
$500
$50
$1050
$5
2
A check you wrote isn't on the bank statement!
CLEAR your schedule!
HOLD on, no way!
That's the way the ball BOUNCES!
That's OUTSTANDING!
3
You are BORROWING money with
an ATM card
all of these
a debit card
a credit card
4
The initial investment
Credit
Rule of 72
Interest
Principal
5
A share of ownership in a publicly traded company
dividend
particle
stock
mutual fund
6
Writing a check for more than you have in account
bouncing a check / overdraft
holding a check
overextending a check
rolling a check
7
The number on the bottom left of a check is
address
routing number
check number
account number
8
To safely mail your bills
put in mailbox with flag up
use double the postage
do not put return address label on
drop off at post office box
9
The interest that you make earns interest which earns interest!
principal
Rule of 72
compounding
saving
10
True or False: You can get cash with an ATM/Debit card anywhere in the world for free.
False
True
11
Which of the following is
NOT
a good option when it comes to paying for college
Ask Your Parents for a Loan
Apply for Scholarships and Grants
Fill out the FAFSA
Work and Save
12
Years to double your money. 9% interest rate
72
12
8
9
13
Dave says a credit score is
An I Love Debt Score
Needed to Get Out of Debt
Necessary For Everything
Based on Your Grade Point Average
14
When you put money into a CD, money market, or savings acct.
investing
compounding
risky
saving
15
You can get a free credit report from each of the 3 agencies
once every 5 years
once a month
once per year
once per week
16
You should purchase
Things that you want, even if you don't have the money
Things that you can afford and have money for
Things that you need, no matter the cost
Things you need or want that others have within credit limit
17
The best password
password
Loom16
ABCD1234
BAn4na$
18
Increased potential for BIG returns with
increased risk
decreased risk
money in savings
neither
19
NYSE, AMEX, and NASDAQ
indices
brokerages
exchanges
ticker symbols
20
Reasons for having a spending plan
Know where money is going
You don't make a lot of money
Less likely to go into debt
Way to save for future
21
These give an indication of how the stock market is doing
day traders (Fred, Joe, Mary)
exhanges (NYSE, AMEX, NASDAQ)
indices (Dow Jones, S&P 500)
brokers (Ameritrade, Charles Shwab)
22
If you have a LOW risk tolerance, do what with $$?
put in shoebox
invest in stocks
spend it all
invest in bonds
23
Most EXPENSIVE method to pay for a car
leasing
stealing
taking out a car loan
purchasing with cash
24
Putting money in the bank, but agreeing not to touch for set time
CD
Bond
Money Market
Stock
25
Missing just one payment
will stay with you for the rest of your life
is ok, you usually get a pass
often gets communicated to other lenders
will make your credit score go up
26
Personal finance success is primarily the result of
Investing in Stocks
Getting Approval from a Financial Advisor on all Purchases
Managing Your Behavior
Luck
27
A not-for-profit financial institution run by a volunteer board of directors.
credit bank
co-op
credit union
bank
28
If you are spending more than you make, you should
decrease discretionary/flexible expenses
ask a friend for a loan
put groceries on credit card to pay later
eliminate fixed expenses
29
The organization that oversees identity theft
FTC
NITPA
IRS
FCC
30
Do NOT keep this in your wallet, purse, pocket, etc!
Lint
Driver's License
Credit Card
Social Security Card
