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Financial Literacy 2019 Review Flashcards | StudBud
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Financial Literacy 2019 Review
Debt Load
Which is the best served use of credit
Financial Literacy 2019 Review
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2019
Flashcards
48 cards
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Practice quiz
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Host live
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Questions
48
Answers
1
Which is the best served use of credit
Lunch
New refrigerator
Justin Beiber tickets
Groceries
2
Debt Load
How much money is in your wallet
The amount debt a consumer has at a point it time
The balance of your car loan
FICO Score
3
Globalization is?
The process of becoming worldwide in scope
Off Shoring
on shoring
Moving to New Zealand
4
A Title Loan is a loan that
Is from a loan shark
Is the same as a Home loan
Has a nice name
Requires a Vehicle as collateral
5
Which is most likely to incur a fee from a lender?
Exceeding a credit limit
making an early payement
closing the account
Having a zero balance
6
What is a Market Place
Signage for a Store
Pete's
Lake Street
Anyplace where buyers and sellers meet
7
A Debit Card is
Acts very similar to a Check
The same as a credit card
Never requires a PIN
Is only used with a savings account
8
What is a disadvantage of renting a residence?
No tax advantages
Having to fix a broken toliet
Living with parents
More Mobility
9
A place to keep track of all transactions in your checking account
Note book
Check register
Your happy place
Your arm
10
Spending more money than a person can afford is called
Overspending
Underspeeding
Stupid
Bankruptcy
11
What does it mean to be Creditworthy?
Having the assets, income and willingness to repay debt
You are a nice person!
Having a Co-Signer
Have a good credit report
12
How should credit cards be used?
When you have no money and no job
To go on a wild vacation
Buy a expensive gift for a friend
For everything, if you can pay the bill off each month.
13
The Airline Passenger Bill of Rights
Protects the rights of all passengers
Only applies to adults
Is a schedule of flight times
Is no longer used
14
What is 5 X 12
752
60
12
84
15
A numerical Measure of your Creditworthiness is
Batting Average
Credit Score
Report Card
Credit Report
16
What is the safest type of endorsement for a check?
Special
An endorsement in black ink
One from kim kardashian
Restrictive
17
One Pound is equal to?
I Kilo
50 Grams
453.92 Grams
One Dollar
18
The party extending credit is the
Host
Creditor
A lot of Fun
Creditee
19
What is a trade off?
Trade with Canada
The value of the option that is given up
Deciding which kardashian you like better
A choice given up when a different choice is made
20
Which forms of a business have unlimited liability?
All
Partnership and Proprietorship
Corporation
None
21
What is one type of debt that cannot not be wiped out in bankruptcy?
Loan from a Parent
Title Loan
Student Loan
Mortgage
22
What is 60 divided by 5
10
20
5
12
23
The FDIC insures bank deposits for:
$100,000.00
$250,000.00
Fun
$1,000,000.00
24
The legal process to remove a tenant that is not paying rent
Eviction
Changing the locks/bagels
Reposession
gifting
25
What does not appear on a check
Balance in the Account
Amount of the check written in words
Checking Account Number
Name of the payee
26
What is an Opportunity cost?
Trade with Mexico
The value of the option that is given up
Deciding which Kim you like better, Kardashian or jong un
A choice given up when a different choice is made
27
When researching buying a product it is important to be?
Skeptical
Carefree
Awake
18 or older
28
Offshoring is
Next to Lake Shore Drive
Building a House on an Island
Drilling for Oil on Lake Michigan
Moving sections of a business to another country
29
What are 3 of the 5 categories used to determine a FICO Score
Faith, hope and charity
Moe, Larry, Curley
Payment History, amounts owed, length of credit history.
Capital, character,capacity
30
A method in which a particular range of products and services is produced is called
Lucky
Opportunity Cost
Specilization
Trade barrier
31
How much one currency buys in another currency
APR
Bonnie Raitt
Lower rate
Exchange Rate
32
An example of a brick and mortar store is
Uber
Target
Amazon
Debit Card
33
The three C's of credit are
Character, capacity, capital
Character, capacity, capitol
Capacity, caring, capital
Caring, complete, confusing
34
What is not an example of a Credit Card Fee
Late Payement
Cash Advance
Over Credit Limit
Parking Fee
35
What are the consequences of having a low credit score?
Higher interest rates, fewer housing job opportunities
Low self esteem
Higher Credit Score
Shorter life span
36
How long was the Hundred Years War?
116
99
100
101
37
What are the Four Factors of Production
Labor, Capital, Entrepreneurship, Profit
Land, Labor, Capital, Entrepreneurship
Land, Profit, Loss, Sleep
Land, labor, Customs, Entrepreneurship
38
Which team is Better?
Cubs
Sox
Cardinals
Brewers
39
A country specializes in producing a product more efficiently than another county what exists?
Loss Leader
Comparative Advantage
Absolute Advantage
New Deal
40
Why would a nation restrict trade?
lower interest rates
No trade clause
protect domestic industries and domestic jobs,
insure domestic tranquility,
41
What are the other 2 of the 5 categories used to determine a FICO Score
New Credit and Types of Credit Used
over and under spending
Ball and Strike
Eviction and Foreclosure
42
Money that can be easily accessed is
Liquid
Fluid
Mine
Secured
43
The person or business to which a check is written is
Lucky
payee
payor
Lessor
44
What is a Tariff?
Tax on imports
Special Property Tax in Oak Park and River Forest.
Limitation on the number of imports from China
Tax on exports
45
Loans that require collateral are know as
Unsecured
A nice deal
Required
Secured
46
A check is
A person born in the Czech Republic
Ensures you have enough money in your bank account
Must be written in pencil
Written order to pay a specific amount to a specific person
47
A country that can produce a product more efficiently than another county has a
New Deal
Loss Leader
Competitive Advantage
Absolute Advantage
48
What is the meaning of "Caveat Emptor"
I am the emperor
Buy low sell high
Let the buyer beware
Let the Seller beware
