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DECA Financial Litercy Flashcards | StudBud
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DECA Financial Litercy
DECA Financial Litercy
10 terms
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StudBud Administration
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A mastery quiz for a student taught financial literacy lesson.
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
What is a NEST savings account used for?
To save up for housing
To help students afford a car
To help out single parents with their bills
To save up money for a students education
2
Which of the following is NOT an unexpected expenditure?
Broken arm
Severe weather damage
Car breaks down
Cable/Electric Bill
3
How much money should be saved from every paycheck?
30%
20%
10%
50%
4
What are some perks of saving money?
You won't have to rely on people for financial support
Life can be less stressful
Having back up money
There are no perks
5
The FDIC insures your money for up to _______.
$250,000
$25,000
$500,000
$100,000
6
While in a savings account, your money earns_______.
Income
Interest
Nothing
Mortgage
7
What is the minimum account balance for a money market deposit account?
$1,000 - $3,000
$100 - $2,500
$0 - $100
$100 - $200
8
How many withdrawals are allowed from a savings account each month without a penalty?
4
9
3
6
9
Which of the following is NOT good for your finances?
Impulse buying
Saving more than you spend
Keeping spare change
Using direct deposit for your paychecks
10
What type of savings account allows check writing privileges?
Money Market Deposit Account
NEST Account
No savings account allows check writing privileges
Automatic Savings Plan
