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Galante-- Financial Literacy Final Another Quiz Flashcards | StudBud
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Galante-- Financial Literacy Final Another Quiz
Galante-- Financial Literacy Final Another Quiz
16 terms
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StudBud Administration
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Financial Literacy #government
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
Money that comes from wages, interest, social security,etc. tips is called?
d. Income
c. Net income
b. Gross income
a. Spending
2
If you are struggling to pay your bills, which action should one take first?
b. Talk to creditors
a. Payoff loan with highest interest
c. Pay necessary household expenses
d. Pay your rent or mortgage first
3
Money left over on a paycheck after taxes, insurance, social security, etc. are deducted.
c. Net income
d. Income
a. Spending
b. Gross income
4
A step by step plan for meeting expenses in a given period of time is called?
Expenses
Income
Spending
Budget
5
The total amount of money you earn before anything is taken out?
b. Fixed expenses
a. Budget
c. Flexible expenses
d. Gross income
6
Using money to pay bills, or to pay for entertainment, goods, or services is called?
Spending
Expenses
Budget
Income
7
Which of the following is
not
a tool that one can use to help maintain a budget?
d. A spreadsheet on the computer
c. A calendar with all family activities listed
a. Amonthly payment schedule
b. A personal finance program
8
Items that you must pay for, like housing, food, transportation, utilities, and other bills.
Budget
Spending
Expenses
Income
9
A financial institution/s where one must become a member in order to open an account.
Credit Union
Bank
Thrift
10
A fee incurred- you withdraw money from a gas station, shopping mall, or an unaffiliated bank
stop-payment
free/low-cost
ATM user
interest bearing
11
A limit is placed on the number of checks you can write
minimum balance Fee
free/low-cost
interest bearing
ATM user
12
Expenses that may change from month to month
Fixed Expenses
Gross Income
Flexible Expenses
Net Income
13
A certain amount of money must be maintained in order to avoid these fees.
free/low-cost
minimum balance Fee
ATM user
nterest bearing
14
Expenses that do not change from month to month.
b. Fixed expenses
d. Gross income
c. Flexible expenses
a. Budget
15
Fee paid if you lose a check & wantyour bank to not pay the money ifsomeone tries to cash it.
free/low-cost
interest bearing
stop-payment
ATM user
16
A minimum balance of $1000 is often required to have your account be....
interest bearing
minimum balance Fee
ATM user fee
free/low-cost