Part ONE: AL financial literacy review

When seeking to purchase a product at a store, what additional cost must be paid in addition to the product price?

Which types of insurance provides income to people who depend on a wage earner after the wage earner dies?

What is the term used to describe interest earned on interest gained?

All the following are examples of installment loans EXCEPT:

Which mortgage loan helps individuals who a low credit score, no $ for down payment, or are first time home buyer?

Which of the following will be paid for as part of the escrow funds included in a mortgage loan?

Which is the form an employer gives to an employee to inform them of how much $ was deducted from paychecks each year?

When seeking to open a bank account, which of the following is needed?

Which of the following types of insurance helps pay for stays in a nursing home?

Which of the following statements best describes gross pay?

Which of the following is the form employers use to determine how much tax to deduct from a paycheck?

The total money one gets to “take home” from a paycheck after taxes and deductions are taken out is known as what?

When one receives a product or service now, but pays for it later, it is known as what?

Which of the following purchasing cards removes funds from a checking account almost instantly after making a purchase?

The purpose of an umbrella insurance policy is best summarized as what?

Which is a financial institution that handles money, including keeping it safe for saving or commercial purposes?

Which types of insurance assists in covering medical expenses associated with short-term illness and accidents?

When the federal government raises interest rates, which is generally impacted positively for a consumer?

Using the simple interest formula I=prt , calculate the interest earned on $150 after one year at a 6% return rate.

Which of the following practices does not lead to a higher car insurance rate?

Which of the following best describes the concept of APR?

When choosing between a bank or a credit union, which is an advantage that credit unions have in comparison to banks?

All of the following are advantages of bundling insurance EXCEPT what?

Which of the following investments is characterized by the following traits:

A certificate of deposit (CD) differs from a traditional savings account in what way?