stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Prep for W!SE 30-60 Flashcards | StudBud
Explore
/
Financial Literacy Prep for W!SE 30-60
Financial Literacy Prep for W!SE 30-60
30 terms
·
StudBud Administration
·
1,998 plays
Financial Literacy Review from Everfi
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
Pay that is fixed amount regardless of hours worked
Bonus
Tip
Salary
2
The form you complete to determine how much tax to withhold from your paycheck is the_______.
W-4
1099
1040 EZ
W-2
3
Committing money to an enterprise in order to earn a financial return is known as___.
salary
Plan of action
Investing
4
Which of the following are NOT deducted on a typical paystub:
Sales tax
Medicare tax
Social security tax
State Income Tax
5
Pay that is figured under hourly rate
Wage
Bonus
commission
6
When you purchase a municipal bond, you are:
investing in a index fund
loaning money to a municipality
diversifying your portfolio
7
When you purchase an item in a store, you may be charged__________.
income tax
sales tax
capital gains tax
property tax
8
PAYMENTS OR PROPERTY GIVEN TO PEOPLE OR INSTITUTIONS, WHICH DO NOT HAVE TO BE PAID BACK
BONDS
GRANTS
STOCK
9
When buying stock in a company, you are:
loaning money to a company
investing in an index fund
buying a portion of the company
diversifying your portfolio
10
The main trade-off that all investors must consider is:
risk vs return
diversity vs uniformity
stocks vs bonds
income vs cost
11
A voluntary payment offered to an employee based on quality of service
bond
tip
salary
12
Diversification is __________.
safer than having a portfolio that isn't diversified
buying one type of stock
buying many different types of stocks to have less risk
13
What is a recession?
A period of time in which the economy goes up
A period of prosperity
A period of time in which the economy goes down
14
Someone who organizes, manages, and assumes the risk of owning a business
Partner
Sole proprietorship
Entrepreneur
15
Identity thieves can use your personal information to
Sign up for electricity service
Open a credit card
Get a cell phone contract
All of the above
16
Insurance can help you:
protect against unexpected accidents
cover all out of pocket costs
minimize monthly expenses
reduce the chances of getting int an accident
17
An installment loan is:
a loan in which you make monthly payments
a loan paid off in one lump sum
a loan from your mom that you will pay next month
18
What is the safest way to dispose of old bank account statements?
Keep them bundled together in a folder
Shred them in a paper shredder
Put them in the trash unopened
Throw them out in trash
19
The best way to investigate fraudulent transactions on your credit card is to:
Review all old bank statements
Review your recent credit card statement
Keep a copy of your bank statements in a safer place
Keep track of your monthly budget
20
Which of the following is an advantage of federal student loans?
federal student loans do not accumulate interest
federal student loans must be paid back while in school
federal student loans have a fixed rate
21
Where can you find information about Financial Aid? Check all that apply
Online
Town hall
Counselor
College Financial Aid Officer
22
How much should you pay for coverage monthly? Premium $300 month; deductible $500
$800
$200
$500
$300
23
A_________is generally considered an appreciating asset bcuz it will_________in value over time
house; decrease
car; decrease
car; increase
house; increase
24
The return investment (ROI) from education is typically the highest for:
someone with a 4-year degree
Someone with a 2 year degreee
a college applicant
A high school graduate
25
What is a mortgage?
a measure of your credit rating
a type of loan used to buy property
A type of rent used to pay for housing
a measure of the value of a home
26
Renting provides_________flexibility but can lead to_________costs in the long-‐term
less;lower
less;higher
greater; higher
greater; lower
27
Jan pays $70 each month for her auto insurance policy.This regular payment is called a:
deductible
premium
co-pay
claim
28
Which loan type requires you to make loan payments while you’re attending school?
Subsidized federal loan
Both a & b
Unsubsidized federal loan
Neither a & b
29
Which document puts you at the least risk of identity theft?
paycheck stubs
Cash receipts
Old tax records
Pre-approved credit card offers
30
A business owned by a group of stockholders
Corporation
Group of friends
Sole proprietor
Partnership