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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Financial Literacy questions for review.
Flashcards
35 cards
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Questions
35
Answers
1
The knowledge, skills and talent that people use to do their work is called.
Natural Resources
Financial Capital
Capital Resources
Human Capital
2
Amelia has a high credit score, so ____________ consider her a good risk.
loaners
lenders
parents
cashiers
3
Federal and state income tax returns are due every year on
April 15
December 31
January 31
July 15
4
Many adults keep track of their money by logging all transactions in a __________________.
post it note
bank statement
check register
tax return
5
Why would people want to invest in the stock market?
To lose money
To help a company go bankrupt
To gamble
To make money
6
A card that you use that comes straight from your checking account.
certificate of deposit
money order
credit card
debit card
7
An economic system that does not stray from what their ancestors produced.
Market Economy
Traditional Economy
Mixed Economy
Command Economy
8
______________ allow you to pay for items in installments over time.
interest rates
debit cards
checking account
credit cards
9
The circular flow of money in our society is between
Government, Households and Marketplace
Households, Government and other countries
Government and Marketplace
Marketplace and Households
10
We cannot have everything we want because of
scarcity
needs
opportunity cost
wants
11
Interest rates on credit cards
Are the same for everyone
Depend on age and income
Vary depending on credit score and age and income
Are the same regardless of age or income
12
An economic system that uses supply/demand and some government regulation.
Market
Mixed
Traditional
Command
13
When signing a lease to rent an apartment, it is important to do what?
Read and sign it even though you do not agree with it .
Review and sign quickly
Read carefully and only sign when you understand it.
Read carefully and sign even if you don't understand it.
14
What should you do on a job application?
List references
Blue or Black Pen
Appropriate grammar
All of the above
15
Which one of the following is inappropriate during a job interview?
Dress according to job
Answer your cell phone
Thank the interviewer
Be confident
16
Taking money out of your bank account is called...
Interest
Deposit
Payment
Withdrawal
17
Spending on clothing is what kind of expense?
Investment Expense
Fixed Expense
Variable Expense
Production Expense
18
Sam earned $3000. He spent $2000. He put $1000 in the bank. This amount is called?
Profit
Saving
Budget
Credit
19
When a bank pays someone to save money it is called
Opportunity Cost
Interest
Trade-off
Service
20
When looking for a house, what should you consider?
Schools
Neighborhood
Price
All of the above
21
What is unemployment?
A retired person
A person not physically capable of working
A person without a job but is looking for one.
A stay at home mom or dad
22
What is the best action to take to balance your budget?
Reduce expenses
Get more credit cards
Pay more taxes
Increase expenses
23
Which of the following are ways to protect yourself from identity theft?
Protect your pin
Change passwords frequently
Destroy all password sensitive material
All of the above
24
The payment people receive for the work they do is called...
Wages
Savings
Profit
Interest
25
Jobs usually pay a higher salary when...
More education or skills are required
An ad has been placed online.
They have a job title
People must be interviewed
26
The amount of money you can borrow.
savings
tutiton
credit
grant
27
Which is an example of a fixed expense?
Gasoline
Clothing
Netflix
House Payment
28
What is net pay?
The amount of pay earned from doing additional work
The total amount of money earned before pay deductions.
The length of time an employee's wages are calculated
Amount of money left after all deductions have been taken.
29
A score based on your payment history
Loan Score
Fast Cash
ACT Score
Credit Score
30
Grant spent $80 at Chuck E. Cheese, but only had $20, so he was charged a/an _____________.
late fee
override fee
interest fee
overdraft fee
31
Which of the following could you use to buy something now and pay for it later?
Credit Card
Check
Cash
Debit Card
32
One way to improve human capital is by...
Saving money
Building a factory
Go shopping
Attending school
33
A plan for managing income, spending and saving is called...
Credit Account
Budget
Investment
Account balance
34
An economic system that is based solely on government decisions.
Mixed
Market
Command
Traditional
35
You should always be aware of your ____________ before spending money on something.
interest rate
credit score
checking balance
armpit odor
