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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
31 cards
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Questions
31
Answers
1
Which of the following could you use to buy something now and pay for it later?
credit card
Debit Card
Check
Cash
2
One way to improve your human capital is by...
Building a factory in Roblox
Go shopping
Attending school
Saving money
3
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 sign even if you don't understand it.
Read carefully and only sign when you understand it.
4
Taking money out of your bank account is called...
Withdrawal
Deposit
Payment
Interest
5
A plan for managing income, spending and saving is called...
Account balance
Investment Account
Budget
Credit Card Account
6
Sam works at Cashwise, Wyatt works at Target, Bobby volunteers at Red Cross. Who is earning income?
Sam, Wyatt and Bobby
Bobby and Wyatt only
Sam and Bobby only
Sam and Wyatt only
7
When looking for a house, what should you consider?
All of the above
Schools
Price
Neighborhood
8
What should you do on a job application?
Blue or Black Pen
List references and your skills
Appropriate grammar
All of the above
9
The payment people receive for the work they do is called...
Profit
Wages
Savings
Interest
10
What determines the number of jobs, goods and services available?
Supply and Demand
Government
Ancestors
Taxes
11
Haley can either work at Taco Bell or Skyzone. If Haley picks Skyzone, Taco Bell is her...
Incentive
Opportunity Cost
Deposit
12
Which is an example of a fixed expense?
Clothing
Eating out
Gasoline
House Payment/rent
13
Which one of the following is inappropriate during a job interview?
Dress according to job
Thank the interviewer
Answer your cell phone
Be confident
14
The circular flow of money in our society is between these THREE:
Government, Households and Marketplace
Government and Marketplace
Marketplace and Households
15
An economic system that does not stray from what their ancestors produced.
Traditional Economy #OldSchool
Market Economy
Mixed Economy
Command Economy
16
Which of the following are ways to protect yourself from identity theft?
Destroy all password sensitive material
Change passwords frequently
Protect your pin
All of the above
17
Jobs usually pay a higher salary when...
People must be interviewed
They have a job title
An ad has been placed online.
More education or skills are required
18
What is net pay?
Length of time an employee's wages are calculated
Take Home Pay
Overtime Pay
Total amount of money earned before pay deductions.
19
The knowledge, skills and talent that people use to do their work is called.
Natural Resources
Human Capital
Financial Capital
Capital Resources
20
We cannot have everything we want because of
needs
scarcity (not enough Gucci to go around)
wants
21
Before you buy something using a check or debit card, what should you know about your account?
The PIN for your account
If you have tax on your account.
If you have money in your account
The interest rate of your account
22
An economic system that is based solely on government decisions.
Command (Communist)
Market
Mixed
Traditional
23
Spending on clothing is what kind of expense?
Variable Expense (Can Change)
Investments
Fixed Expense (Doesn't Change)
24
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
25
Sam earned $3000. He spent $2000. He put $1000 in the bank. This amount in the bank is called?
Budget
Profit
Credit
Savings
26
When a bank pays someone to save money with them the person gets:
Opportunity Cost
Trade-off
Interest
Service
27
Interest rates on credit cards
Are the same for everyone
Depend on age and income
Are the same regardless of age or income
Depend on your credit score, age & income
28
What is the best action to take to balance your budget?
Pay more taxes
Reduce expenses
Increase expenses
Get more credit cards
29
What is an advantage to buying a house?
Increased responsibility for maintenance.
Multiple options for size and location
Limited expenses for maintenance
It is your most expensive asset in your net worth
30
Federal and state income tax returns are due every year on
January 31
April 15 #TaxDay
July 15
December 31
31
Why would people want to invest in the stock market?
To help a company go bankrupt
To make money
To gamble
To lose money
