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Financial Literacy Terms Flashcards | StudBud
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Financial Literacy Terms
Financial Literacy Terms
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1
What is a bond?
stocks
A fixed-income security
deposits
money
2
Define FICO Store
A 10 digit number that represents your phone number.
A 8 digit number that represents your`student ID.
A 5 digit number that represents your area code.
3 digit number, 300-850, that represents your creditworthiness.
3
What would be a Beneficiary?
something that helps you
upgrade
it is nether help or affect you
something that is negative
4
What is a Stock Market?
A store where you get money.
A place where you fill out your taxes.
A place where you buy a product or service.
Where business can raise money by selling shares of ownership to investors
5
15. Which of the following describes a Stock?
Needs vs Want.
An unplanned decision to buy a product or service.
A type of investment representing a share of ownership in a company.
As auto insurance or automobile insurance.
6
Who needs a supply of a product?
All of the above
Schools
Publix
Amazon
7
Define a Tariff.
Trump tax.
3 digit number, between 300 and 850, that represents your creditworthiness.
A tax or duty to be paid on a particular class of imports or exports.
Tax that you pay on your house.
8
Define Property Tax.
The amount of your debt.
When you do too much impulse shopping.
A tax on the value of real estate (land and buildings).
When you take money out of an ATM.
9
If you get something's valuation, what will happen?
you get to see what it is worth
money you get back
you sell something
buying something
10
What is the rule of 72?
Have at least 72% of your networth saved.
Get a job that makes at least 72,000 a year.
How much money you need to make by the time you are 72.
A technique to see how long it will take for an investment to double.
11
50-30-20 Rule is a method to get rich quick.
False
True
12
Demand is how much a company needs to produce an item.
False
True
13
What is a Debt Consolidation?
having many debt
making you money
Having no debt
Having one debt
14
How can you withdraw your money? (Multiple answers)
All of the above.
Take your money out of an ATM.
Ask the bank to hand you cash straight from your account.
Put money INTO the bank.
15
If you gain profit from a property what is it called?
Capital gain
Stock
Beneficiary
property sale
16
What would you use application fees for?
College Application
Book Club
Library
High School
17
What is APR?
bond
The total cost of borrowing
Money coming back to you
A investment
18
How can you withdraw your money? (Multiple answers)
Take your money out of an ATM.
All of the above.
Put money INTO the bank.
Ask the bank to hand you cash straight from your account.
19
Which definition best defines Credit History?
A record of your grade
A record of all your grades
A record of your financial responsibility regarding loans and credit
A record of all your taxes
20
401k is an employer-sponsored retirement savings plan that allows employees to contribute a portion of their income.
False
True
21
Which of the following are NOT a form of cryptocurrency?
Dogecoin
Fastcash
Bitcoin
Ether
22
How does one gain their net worth?
Have many debts.
Not spend any money.
Investments.
Be unemployed.
