Financial Literacy

All the following are examples of installment loans EXCEPT

Banks offer the service of a safety deposit box, which can be used for what?

Which of the following types of insurance provides income to people who depend on a earner after the wage earner dies?

Using the simple interest formula I=prt , calculate the interest earned on $150 after one year at a 6% return rate.

Mortgage for a first-time buyer who doesn't have a good credit score or much money.

what additional cost must be paid in addition to the listed price of the product?

Which of the following positions can confirm signatures to a contract?

Which of the following is the form employers use to determine how much tax to deduct from a paycheck?

Federal income tax brackets can be impacted by which of the following?

*Insured by the FDIC or NCUA*Lowest interest rate of all investments*Number of withdrawals per month may be limited

When one party to a contract does not do what the contract requires, the individual has committed a what of the contract

What is the term used to describe interest earned on interest gained?

Which of the following best describes the concept of APR?

What is an advantage of credit unions over banks?

The Rule of 72 is used to calculate what?

Targets people in poverty with high interest rates

The purpose of an umbrella insurance policy is best summarized as what?

When one invests in a commodity, they are investing in a what?

Loaned money to the government is repaid plus interest. Considered a safe investment.

If one spends more money than they have in their bank account, they are charged a what?

Which of the following practices does not lead to a higher car insurance rate?

When seeking to open a bank account, which of the following is needed?

Which of the following will be paid for as part of the escrow funds included in a mortgage loan?

Paper an employer gives to tell how much money was deducted in a year

Which of the following is the term for a person who relies on someone else financially?

Which of the following practices could negatively affect one’s credit score?

 When planning one’s personal budget, a variable expense is what?

Rent-to-own agreements can negatively impact consumers because

Which of the following is the correct sequence in the formation of a contract?

*Risky*Ownership in a corporation*Pays dividends*Potential for reward is high

financial institutions may an individual visit to get money from a check if they do not have a traditional bank account

Which of the following purchasing cards removes funds from one’s checking account instantly after one makes a purchase?

Which of the following allows a customer to pay a deposit on an item, and then not receive it until the balance is paid?

When receiving a mortgage loan, if an individual cannot make a large down payment, they will likely have to pay for what

One must consider which of the following additional costs to the price of their meal and sales tax?

The total money one gets to “take home” from a paycheck after taxes and deductions are taken out is known as what?

federal government raises interest rates, which of the following is generally impacted positively for a consumer?

Which of the following statements best describes gross pay?

financial institution that handles money, including keeping it safe for saving or commercial purposes

All of the following are advantages of bundling insurance EXCEPT what?

Which of the following is an advantage of maintaining a good credit score?

When one receives a product or service now, but pays for it later, it is known as what?

If the value of one’s house increases, all the following will most likely rise EXCEPT

The phrase “balancing a checkbook” refers to which practice?

Sales tax amounts are generally established by which of the following?

Which of the following types of insurance helps pay for stays in a nursing home?

the typical amount of time in which a borrower must pay off a mortgage loan

Which of the following types of insurance helps in covering medical expenses with short-term illness and accidents?

A certificate of deposit (CD) differs from a traditional savings account in what way?

When one is inspecting a banking or credit statement and discovers several charges they did not make.