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HASD Financial Literacy Review Flashcards | StudBud
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HASD Financial Literacy Review
HASD Financial Literacy Review
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Review concepts learned in 9th grade #financial literacy.
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
Your checkbook register and bank statement balances may not match because:
All of the above.
The bank paid you interest.
Your most recent paycheck was not received by the bank.
A check that you wrote did not clear the bank yet.
2
If the bank is showing more money than you have recorded for your balance:
Look for check payments that did not clear the bank.
Adjust your check register to match the bank's.
Someone is sneakily adding money to your account.
Call the bank immediately.
3
The US government official retirement age is:
67
55
59
25
4
To protect against stock market losses, buy a stock that is:
overpriced
from a start-up company
defensive - holding steady
inexpensive
5
Consider the following when choosing an apartment:
Public transportation.
All of the above.
Monthly rent.
Proximity to work.
6
Which statement is true about the stock market?
It's risky but worth it if your time horizon is short.
It has historically yielded average gains of 2% annually.
It's volatility is predictable given enough information.
It's risky but worth it if your time horizon is long.
7
Kelly Blue Book is a great resource for determining:
Inflation rates.
The value of a used car.
Car leasing trends.
Mortgage rates.
8
The best time management allows for exercise
on weekends.
on Sunday.
daily.
only after playing 10 hours of Fortnite.
9
Emergency funds should be used only for unpredictable expenses such as the following:
Cell phone bill increase due to data overage
A new car
A trip to Cedar Point
Paying the mortgage due to an unexpected layoff
10
The best time to begin saving for retirement is
age 25.
when you start your first job.
once you hit age 30.
different for everyone.
11
Perhaps the best advice for investing is:
to save early and to save often.
to invest in the stock market.
to invest in bonds.
to open a savings account.
12
Homeowners insurance will cover
your loss of income if your are injured and can't work.
Funeral costs.
A dog bite that occurred in your house.
A car accident.
13
The tax form that you'll send to the federal government once you begin working is the:
1099
W2
1040EZ
W4
14
A car loan vs. a lease
Is usually a shorter term.
Provides lower monthly payments.
Allows you to drive the car for only the loan term years.
Offers unlimited freedom on the miles you drive each year.
15
The federal government collects tax money to fund all of the following except:
education
vbucks
bridges and roads
national security
16
The bank routing number uniquely identifies a bank and may be found:
In the lower left-hand corner of a check.
In the lower right-hand corner of a check.
In your check register.
In the upper right-hand corner of a check.
17
Less purchasing power with your money is known as:
depreciation
Interest
equity
Inflation
18
If you borrow $90 and have to pay back $100, what is the original $90 called?
principal
down payment
fees
interest
19
Mutual fund companies receive front end fees
When the fund is initially purchased.
Once the funds are sold.
Every time the fund grows.
At the end of each quarter.
20
Investing in global stock funds outside the U.S. economy
will help spread overall portfolio risk.
Is a wise idea for your college savings.
Is illegal.
Is too risky for American investors.
21
This form is provided by your employer and reports your income and tax withheld:
paycheck
W2
W4
1040
22
Your income is reported here on your W2:
Box 1
Box 2
Line 10
Line 6
