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Financial Literacy Midterm Part 1 Flashcards | StudBud
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Financial Literacy Midterm Part 1
Financial Literacy Midterm Part 1
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1
A form of federal or state financial aid that does not need to be repaid
Credit Report
Marketing
Scholarships
Grants
Branding
Credit Score
2
New cars lose 70% of their value within four years and you get better deals by purchasing reliable used cars
False
True
3
It's best to sign for a 15 year mortgage because life happens so it will be difficult to regularly extra money toward
False
True
4
A written cash flow plan.
Budget
Interest Rate
Personal Finance
Financial Literacy
Cash Flow Statement
Compound Interest
5
The lottery and other forms of gambling is basically a tax on the poor and those who don't understand probabilities.
False
True
6
Lending money to a friend is a way to help them.
False
True
7
The knowledge and skillset necessary to be an informed consumer and manage finances effectively.
Cash Flow Statement
Interest Rate
Financial Literacy
Budget
Compound Interest
Personal Finance
8
The process of communicating the value of a product or service to customers
Marketing
Credit Score
Credit Report
Grants
Branding
Scholarships
9
If you sign a 30 year mortgage, you are likely to pay extra pay off the balance early
False
True
10
Refers to the public's ability to recall and recognize a brand by its logo, jingles, packaging, etc
Credit Score
Branding
Credit Report
Scholarships
Grants
Marketing
11
It is possible to get a good deal on a new car.
True
False
12
Lending money to a friend can be a strain. It is better to give someone help with no expectation of it paid back
False
True
13
All of the decisions and activities of an individual or family regarding their money, including spending, saving, etc.
Cash Flow Statement
Interest Rate
Budget
Compound Interest
Financial Literacy
Personal Finance
14
A summary that shows total income and spending for a given time period.
Budget
Compound Interest
Cash Flow Statement
Personal Finance
Interest Rate
Financial Literacy
15
Learning the language of money is important because you don't want to have to rely on financial planners to manage your
True
False
16
A rate which is either charged (on debt) or paid (on investment accounts) for the use of money
Budget
Compound Interest
Financial Literacy
Interest Rate
Cash Flow Statement
Personal Finance
