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Financial Literacy Final Review Flashcards | StudBud
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Financial Literacy Final Review
Financial Literacy Final Review
30 terms
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StudBud Administration
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170 plays
#nefe #financialliteracy #personalfinance #investing #budget
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
I=PRT. $1,000 loan, $5% interest rate, 1 year. Interest =?
$500
$1050
$5
$50
2
A not-for-profit financial institution run by a volunteer board of directors.
credit bank
bank
co-op
credit union
3
Missing just one payment
will stay with you for the rest of your life
will make your credit score go up
is ok, you usually get a pass
often gets communicated to other lenders
4
Most EXPENSIVE method to pay for a car
leasing
purchasing with cash
stealing
taking out a car loan
5
These give an indication of how the stock market is doing
day traders (Fred, Joe, Mary)
brokers (Ameritrade, Charles Shwab)
exhanges (NYSE, AMEX, NASDAQ)
indices (Dow Jones, S&P 500)
6
When you put money into a CD, money market, or savings acct.
investing
compounding
saving
risky
7
The best password
Loom16
BAn4na$
ABCD1234
password
8
Writing a check for more than you have in account
rolling a check
overextending a check
bouncing a check / overdraft
holding a check
9
Increased potential for BIG returns with
increased risk
decreased risk
money in savings
neither
10
A share of ownership in a publicly traded company
stock
dividend
mutual fund
particle
11
The number on the bottom left of a check is
check number
account number
routing number
address
12
The organization that oversees identity theft
FTC
FCC
NITPA
IRS
13
NYSE, AMEX, and NASDAQ
indices
exchanges
brokerages
ticker symbols
14
Years to double your money. 9% interest rate
9
72
12
8
15
You can get a free credit report from each of the 3 agencies
once per year
once per week
once a month
once every 5 years
16
A check you wrote isn't on the bank statement!
That's OUTSTANDING!
That's the way the ball BOUNCES!
HOLD on, no way!
CLEAR your schedule!
17
You should purchase
Things you need or want that others have within credit limit
Things that you want, even if you don't have the money
Things that you need, no matter the cost
Things that you can afford and have money for
18
Putting money in the bank, but agreeing not to touch for set time
Stock
Bond
CD
Money Market
19
Which of the following is
NOT
a good option when it comes to paying for college
Work and Save
Apply for Scholarships and Grants
Fill out the FAFSA
Ask Your Parents for a Loan
20
Dave says a credit score is
Necessary For Everything
An I Love Debt Score
Based on Your Grade Point Average
Needed to Get Out of Debt
21
The interest that you make earns interest which earns interest!
saving
principal
compounding
Rule of 72
22
Personal finance success is primarily the result of
Managing Your Behavior
Getting Approval from a Financial Advisor on all Purchases
Luck
Investing in Stocks
23
True or False: You can get cash with an ATM/Debit card anywhere in the world for free.
True
False
24
If you are spending more than you make, you should
decrease discretionary/flexible expenses
ask a friend for a loan
eliminate fixed expenses
put groceries on credit card to pay later
25
The initial investment
Principal
Interest
Rule of 72
Credit
26
Reasons for having a spending plan
Way to save for future
You don't make a lot of money
Less likely to go into debt
Know where money is going
27
To safely mail your bills
use double the postage
put in mailbox with flag up
do not put return address label on
drop off at post office box
28
Do NOT keep this in your wallet, purse, pocket, etc!
Social Security Card
Lint
Driver's License
Credit Card
29
If you have a LOW risk tolerance, do what with $$?
spend it all
invest in stocks
put in shoebox
invest in bonds
30
You are BORROWING money with
all of these
an ATM card
a debit card
a credit card
