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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Financial Literacy questions for review.
Flashcards
29 cards
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Answers
1
What is unemployment?
A stay at home mom or dad
A person not physically capable of working
A person without a job but is looking for one.
A retired person
2
The payment people receive for the work they do is called...
Interest
Savings
Profit
Wages
3
Sam earned $3000. He spent $2000. He put $1000 in the bank. This amount is called?
Profit
Saving
Credit
Budget
4
One way to improve human capital is by...
Saving money
Building a factory
Go shopping
Attending school
5
When signing a lease to rent an apartment, it is important to do what?
Review and sign quickly
Read carefully and only sign when you understand it.
Read carefully and sign even if you don't understand it.
Read and sign it even though you do not agree with it .
6
Federal and state income tax returns are due every year on
July 15
December 31
April 15
January 31
7
Taking money out of your bank account is called...
Deposit
Withdrawal
Payment
Interest
8
Spending on clothing is what kind of expense?
Production Expense
Variable Expense
Investment Expense
Fixed Expense
9
A plan for managing income, spending and saving is called...
Investment
Account balance
Credit Account
Budget
10
What is an advantage to buying a house?
Limited expenses for maintenance
Multiple options for size and location
Increased responsibility for maintenance.
Lack of ability to make decorating changes
11
Jobs usually pay a higher salary when...
People must be interviewed
More education or skills are required
They have a job title
An ad has been placed online.
12
The circular flow of money in our society is between
Marketplace and Households
Government and Marketplace
Government, Households and Marketplace
Households, Government and other countries
13
What is net pay?
The amount of pay earned from doing additional work
The total amount of money earned before pay deductions.
Amount of money left after all deductions have been taken.
The length of time an employee's wages are calculated
14
Why would people want to invest in the stock market?
To gamble
To help a company go bankrupt
To lose money
To make money
15
Which is an example of a fixed expense?
Netflix
Gasoline
House Payment
Clothing
16
Interest rates on credit cards
Are the same regardless of age or income
Are the same for everyone
Depend on age and income
Vary depending on credit score and age and income
17
An economic system that uses supply/demand and some government regulation.
Traditional
Market
Mixed
Command
18
We cannot have everything we want because of
scarcity
wants
needs
opportunity cost
19
When a bank pays someone to save money it is called
Trade-off
Service
Opportunity Cost
Interest
20
Haley can either work at Taco Bell or Skyline. If Haley picks Skyline, Taco Bell is her...
Interest
Incentive
Opportunity Cost
Choice
21
The knowledge, skills and talent that people use to do their work is called.
Capital Resources
Financial Capital
Human Capital
Natural Resources
22
Which of the following are ways to protect yourself from identity theft?
Change passwords frequently
Protect your pin
All of the above
Destroy all password sensitive material
23
What should you do on a job application?
Appropriate grammar
List references
Blue or Black Pen
All of the above
24
What is the best action to take to balance your budget?
Reduce expenses
Increase expenses
Get more credit cards
Pay more taxes
25
Which of the following could you use to buy something now and pay for it later?
Check
Credit Card
Debit Card
Cash
26
Which one of the following is inappropriate during a job interview?
Be confident
Dress according to job
Thank the interviewer
Answer your cell phone
27
An economic system that is based solely on government decisions.
Command
Traditional
Mixed
Market
28
When looking for a house, what should you consider?
All of the above
Schools
Neighborhood
Price
29
An economic system that does not stray from what their ancestors produced.
Traditional Economy
Mixed Economy
Market Economy
Command Economy
