two answers: the definition of a tariff

a tax imposed by a government on goods imported from another country, a tax or duty to be paid on a particular class of imports or exports

What costs would Car Insurance cover?

Your car gets rear ended while sitting at a red light.

Demetrius spots a homeless, asks them to be his financial advisor, is he in the right?

No, your financial advisor must be someone experienced and trustworthy.

What is identity theft?

When someone takes your information and your name for their own benefit.

Which of the following is a correct definition of a Emergency Fund:

a safety net to help you with unexpected financial storms.

What does the term "Consumer Goods"mean?

Goods put on the market for the fulfillment of wants or needs.

Which situation did "Daniel M." receive inherited wealth?

His grandfather dies so he receives 10 million dollars from his assets

Which of the following describes opportunity cost the BEST?

The value of the next best alternative to give up

What does the term "Supply" mean?

The total amount of a specific good or asset available in the market.

"Life Insurance" means?

Insurance that pays out a sum of money on the death of the insured person

Which of the following best describes the term "FASFA"?

A form filled out to see if you qualify for financial aid for college.

A method in which an email or website tricks you into paying or giving info

Which of Deiondre's purchases are considered an "Impulse Purchase"?

Deiondre spots candy before he checks out then decides to buy it.

Two answers: What is a Bounced check and Overdraft fee?

An Overdraft Fee is a bank charging you for too little money when buying, Bounced check is a bank covering a transaction with insufficient funds.

What does the term "Self-Made-Person" mean?

People who have become successful and rich through their own efforts.

a health insurance program providing to 65 or older maybe with disabilities

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Financial Literacy Final Study Guide

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Questions 22

Answers

1
two answers: the definition of a tariff
a tax imposed by a government on goods imported from another country
the elimination of another country
a tax or duty to be paid on a particular class of imports or exports
2
What costs would Car Insurance cover?
You purposely damage your car to make the Insurance Company pay for it.
You have a suspended or revoked license.
Your car gets rear ended while sitting at a red light.
3
should Timmy put his social security on his insta bio?
True
False
4
The definition of Valuation:
The value of somethings worth
The Value of your debt
The value of how much you make
the value of information
5
True or False? Fixed expenses are expenses that change frequently.
True
False
6
True or false? You can get a student loan even if you don't graduate.
False
True
7
Demetrius spots a homeless, asks them to be his financial advisor, is he in the right?
Yes, I doesn't matter really
No, he should go ask a different homeless person.
No, your financial advisor must be someone experienced and trustworthy.
yes, the homeless claimed to be experienced
8
What is identity theft?
When someone is honest with the government
When someone kidnaps another person
When someone only uses their information to make purchases
When someone takes your information and your name for their own benefit.
9
An initial payment made when something is bought on credit
down payment
fixed expenses
emergency fund
home equity
10
Which of the following is a correct definition of a Emergency Fund:
A fund where you can withdraw money everyday
A way to make money
a safety net to help you with unexpected financial storms.
A fund that is locked and can only be opened by parents
11
Inflation is when the rate of increase in prices over a given period of time.
True
False
12
What does the term "Consumer Goods"mean?
Goods that are used for raw material or primary agricultural products.
Stock of goods a business holds.
Goods put on the market for the fulfillment of wants or needs.
Goods used to produce other goods like for machinery.
13
Which situation did "Daniel M." receive inherited wealth?
He was hit from behind so as the victim he inherits money
He was injured in a work accident so there for he inherits his bosses money
His grandfather dies so he receives 10 million dollars from his assets
DANIEL works very hard and makes millions from his job.
14
Which of the following describes opportunity cost the BEST?
Amount of money you spend on a decision
The value of the next best alternative to give up
The benefit you get from the choice you made
The time it takes to make a decision
15
What does the term "Supply" mean?
The total amount of a specific good or asset available in the market.
An obligation to pay someone else's money.
Ownership in a company, usually represented by shares of stock.
16
"Life Insurance" means?
Legacy Assurance Policy which focuses on your inheritance.
Insurance that pays out a sum of money on the death of the insured person
A family protection agreement.
A security fund
17
Which of the following best describes the term "FASFA"?
A form filled out to see if you qualify for financial aid for college.
A program designed to help students in college or there career.
A form you fill out to cover your debt from college.
An art program paid by a special grant.
18
What is phishing?
A method in which an email or website tricks you into paying or giving info
Going to the beach and catching fish.
When websites don't ask for your information.
When websites protect your info.
19
Which of Deiondre's purchases are considered an "Impulse Purchase"?
none of the above
Deiondre spots candy before he checks out then decides to buy it.
Deiondre buys presents for a birthday he knew about for a few months
Deiondre buys only the items on his shopping list when going to Aldi.
20
Two answers: What is a Bounced check and Overdraft fee?
A Bounced Check is a way to see your balance on a check
An Overdraft Fee is when you don't spend enough money
An Overdraft Fee is a bank charging you for too little money when buying
Bounced check is a bank covering a transaction with insufficient funds.
21
What does the term "Self-Made-Person" mean?
Someone born into wealth.
People who have became successful through their spouse.
People who have become successful and rich through their own efforts.
Someone who receives benefits, often through inheritance.
22
medicare
a health insurance program providing to 65 or older maybe with disabilities
selling your grandparents on the market for a maximum of only $65
the election of an old person to pursue your career

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