How can individuals be prepared for losing their job or having a large medical expense?

Save at least three months of income

Why is term life insurance usually the least expensive type of life insurance?

The policy only pays a death benefit

What is a credit score?

A no. used to determine how much credit to extend to a per.

The purpose of Insurance is NOT to:

Diversify an investment portfolio

A credit card finance charge is:

The dollar amount it cost to use credit

Kim wants to open a chking acct and wonders if chking accts pay interest. How would you answer

Some types of checking accounts pay interest

studbud

WISE Financial Literacy Review (15)

15 termsStudBud Administration629 plays

15 Questions to Review for W!SE Financial Literacy Test

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
Lucy's grandparents gave her a sav bond that will be worth $1,000 @ maturity. What amt was pd
$500 for the bond
$1,000 for the bond
$750 for the bonding
These bonds are gifts for long term depositors
2
The process of setting aside money and putting it to work by having it earn interest
Setting goals
Diversifying
Making Money
Savings and investing
3
How can individuals be prepared for losing their job or having a large medical expense?
Maintain a checking account with sufficient funds
Save at least three months of income
Pay credit card bills on time
Prepare a budget
4
Which of the following provides an increase in assets or wealth?
Taking out a loan
Volunteering at a hospital
Running in the marathon
Having capital gains
5
Why is term life insurance usually the least expensive type of life insurance?
The policy is available to all consumers
The policy builds a cash value
The policy only pays a death benefit
The policy provides coverage for a lifetime
6
What is a credit score?
A formula based solely on a person’s earnings
A rew sys that is based on the no of cred cards a person has
A no. used to determine how much credit to extend to a per.
A measure used to indicate a person’s gross wealth.
7
The purpose of Insurance is NOT to:
Diversify an investment portfolio
Share risk with other policy holders and the ins. co.
Protect assets
Protect against potential losses
8
A credit card finance charge is:
The cost of the items purchased
A service fee
The dollar amount it cost to use credit
The sales tax
9
The term used to describe the ease and spd with which you can convert sav or an inv to cash is
Rate of return
Convertibility
Liquidity
Principal
10
A sav account earns the greatest amount of money when the interest on the account is compounded
monthly
yearly.
daily
quarterly
11
Which financial product may pay a dividend?
Common stock
Certificate of deposit
Saving account
Money market account
12
Generally, the higher the deductible on an insurance policy, the
greater the premium
lower the premium
less frequently the premium has to be paid
more frequently the premium has to be paid
13
Kim wants to open a chking acct and wonders if chking accts pay interest. How would you answer
Checking accounts never pay interest
Some types of checking accounts pay interest
All checking accounts pay interest
Chking accts pay int. if the acct bal doesnt fall below 300
14
A factor that is likely to affect the market price of a stock is:
Wages
The age of the corporation
The number of corporate employees
Corporate profits
15
New coins and currency make their way into the general economy, through the distr system of the
Treasurer of the United States
U.S. Federal Mint
Federal Reserve System
Secretary of the Department of Treasury

WISE Financial Literacy Review (15) Flashcards | StudBud