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Financial Literacy Vocabulary Flashcards | StudBud
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Financial Literacy Vocabulary
Financial Literacy Vocabulary
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Questions
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1
Lenders check your ____________ before agreeing to loan you money.
bank balance
loans
credit rating
taxes
2
a government - approved plan through which you save for retirement is called a(n)...
Retirement Fund (RF)
Savings Account
Registered Educational Savings Plan (RESP)
Registered Retirement Savings Plan (RRSP)
3
Tax you pay to the government on all of your income is called...
income tax
monthly tax
government tax
compound tax
4
The type of bank account you would use for daily spending is called a...
credit
debit
savings
checking
5
You can earn interest by investing money, or pay interest when you take a debt.
False
True
6
Why are money smarts so important?
self-sufficiency
freedom
choice
power
7
The amount of money on your pay cheque after income tax deductions is referred to as....
take home
pay
wages
budget
8
Everything you own, which might include your stereo, CD’s, car, jewelry, or bike is called...
goods
asset
items
property
9
The value of your car
depreciates
as it gets older...
False
True
10
Interest that is earned on previously earned interest is called...
compound interest
multiplied interest
growing interest
extra interest
