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HASD Financial Literacy Review Flashcards | StudBud
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HASD Financial Literacy Review
HASD Financial Literacy Review
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Review concepts learned in 9th grade #financial literacy.
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
Homeowners insurance will cover
Funeral costs.
A dog bite that occurred in your house.
A car accident.
your loss of income if your are injured and can't work.
2
Kelly Blue Book is a great resource for determining:
Mortgage rates.
Inflation rates.
Car leasing trends.
The value of a used car.
3
The US government official retirement age is:
55
67
59
25
4
If the bank is showing more money than you have recorded for your balance:
Call the bank immediately.
Look for check payments that did not clear the bank.
Adjust your check register to match the bank's.
Someone is sneakily adding money to your account.
5
The best time to begin saving for retirement is
age 25.
different for everyone.
once you hit age 30.
when you start your first job.
6
To protect against stock market losses, buy a stock that is:
from a start-up company
overpriced
inexpensive
defensive - holding steady
7
Your income is reported here on your W2:
Box 1
Line 6
Box 2
Line 10
8
This form is provided by your employer and reports your income and tax withheld:
1040
W2
paycheck
W4
9
The federal government collects tax money to fund all of the following except:
bridges and roads
vbucks
national security
education
10
The tax form that you'll send to the federal government once you begin working is the:
W4
1099
W2
1040EZ
11
The best time management allows for exercise
on Sunday.
daily.
on weekends.
only after playing 10 hours of Fortnite.
12
Investing in global stock funds outside the U.S. economy
will help spread overall portfolio risk.
Is too risky for American investors.
Is illegal.
Is a wise idea for your college savings.
13
Less purchasing power with your money is known as:
equity
depreciation
Interest
Inflation
14
Perhaps the best advice for investing is:
to save early and to save often.
to open a savings account.
to invest in bonds.
to invest in the stock market.
15
The bank routing number uniquely identifies a bank and may be found:
In the lower left-hand corner of a check.
In your check register.
In the upper right-hand corner of a check.
In the lower right-hand corner of a check.
16
If you borrow $90 and have to pay back $100, what is the original $90 called?
interest
fees
down payment
principal
17
A car loan vs. a lease
Is usually a shorter term.
Allows you to drive the car for only the loan term years.
Provides lower monthly payments.
Offers unlimited freedom on the miles you drive each year.
18
Mutual fund companies receive front end fees
Once the funds are sold.
At the end of each quarter.
When the fund is initially purchased.
Every time the fund grows.
19
Your checkbook register and bank statement balances may not match because:
A check that you wrote did not clear the bank yet.
All of the above.
Your most recent paycheck was not received by the bank.
The bank paid you interest.
20
Emergency funds should be used only for unpredictable expenses such as the following:
A trip to Cedar Point
Paying the mortgage due to an unexpected layoff
Cell phone bill increase due to data overage
A new car
21
Consider the following when choosing an apartment:
All of the above.
Proximity to work.
Monthly rent.
Public transportation.
22
Which statement is true about the stock market?
It has historically yielded average gains of 2% annually.
It's volatility is predictable given enough information.
It's risky but worth it if your time horizon is long.
It's risky but worth it if your time horizon is short.
