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Vault! What Do You Know? Flashcards | StudBud
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Vault! What Do You Know?
Vault! What Do You Know?
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StudBud Administration
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Basic financial literacy questions from the Vault! Everfi program
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
A ______________ is a way to invest your money in a few investment types at once.
Checking Account
Bond
Stock
Mutual Fund
2
Which is an example of a household risk?
A candle left burning unattended
An empty chair
A smelly pair of shoes
3
People who earn paychecks pay __________ to the government.
Sales tax
Property tax
Income tax
4
How is a salary different than a wage?
A salary is paid by the hour, a wage is paid monthly
There is no difference between a wage and a salary
A salary is paid over a set period of time, a wage is hourly
5
What are some ways people can receive money?
Money gifts
Wages
Salary
All of these
6
To be responsible with their money, young people can do what?
Track their spending
Save their money
Stick fo short-term money goals
All of these
7
CD stands for:
Certificate of Deposit
Costly Debt
Corner Desk
Consumer Debt
8
You cannot take money out of a CD whenever you want.
False
True
9
Which is an axample of a financial risk?
Leaving your car windows open
Loaning money to a friend
Texting while driving
10
You should pursue a career based on:
whatever comes easiest to you
whatever makes you the most money
your interests and talents
11
How can you make sure you are getting a good value for your purchase?
Find out if the store has a return policy
Make sure it's a popular item before buying it
Compare prices and make sure you really want it
12
Which of the following is an example of an investment that can grow in value?
Stocks
Checking accounts
Loans
13
Buying something with cash is better than using a credit card to buy it.
True
False
14
Food, heat, cable, internet and dog food are examples of what?
Household expenses
Household income
Household assets
15
Why is it important to spend money on things you need before spending money on things you want?
Because only adults can spend money on things they want
Because buying things you want is more fun
Because you can live without wants
16
The best way to achieve a short-term money goal is to:
Throw away your piggy bank
Spend all your money at once
Create a savings plan and stick to it
17
Which of the following is an example of a need for most people?
A place to live
Designer Jeans
Both a and b
Nutritious food
18
What are some ways that people can protect their cars from being damaged?
Keep it in a garage
Wash it regularly
Drive safely
All of these
19
You can money out of a savings account anytime you want.
False
True
20
What is credit?
an endless supply of money
a household asset
a form of borrowing
21
Paying with ___________ takes cash out of your checking account.
cash
debit cards
credit cards
22
Which is an example of an entrepreneur?
All of these
a teacher
a person who owns a clothing store
a police officer
23
It's OK to give your social security number and email password to anyone who asks for it
True
False
24
Paying for something with cash can help you avoid spending more money than you have.
True
False
25
When selecting a savings account, what should you look for?
a high rate of interest
an account that requires a minimum balance
friendly employees
26
How is buying with credit different than paying with cash?
There is no difference between buying with credit or cash
With credit, you don't pay interest on late payments
With credit, you borrow money and repay the money later
27
One way to make sure you have enough money to cover your needs and wants is to create a :
budget
wish list
checking account
28
Which of the following is an example of a financial institution?
Bank
Brokerage firm
Credit Union
All of the above
29
Where is a good place to go for information about money?
A mall
A bank
A restaurant
30
When you save money you are:
Both A and B
putting money aside to reach your goals
Prepared in case of an emergency
