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GFL Terms Quiz Flashcards | StudBud

Explore/GFL Terms Quiz

GFL Terms Quiz

10 terms·StudBud Administration·56 plays

Understanding general financial literacy terms.

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Questions 10

Answers

1
What is an example of Einstein's rule of 72?
72+2=E
72 / 8.0% = 9 years
E=cole2
8 x 9 = 72
2
Which of the following is NOT one of the 5 C's of Credit?
Capital
Character
Commitment
Conditions
3
What is not a type of insurance?
life insurance.
lawn insurance.
auto insurance.
house insurance.
4
What is a compound interest?
accumulated interest of previous period of deposit or loan.
interest on a house mortgage.
the interest of making a bank account.
5
What is a credit card?
A card with your credit score on it.
A card that allows the holder to buy goods on credit.
A card for buying a better credit score.
6
What is Gross Wage?
Income after taxes.
Annual income.
Weekly income.
Income before taxes.
7
What is a balloon payment on a loan?
paying the loan place with ballons
having extra time to pay a loan.
A larger-than-usual one-time payment at the end of a term.
8
What is Amortization?
Repayment of loan interest over time.
Repayment of loan principal over time.
Repayment of Wyatt.
Helps protect from identity theft.
9
Which is an example of "Pay Yourself First"?
Paying your bills before you spend it on anything else.
Putting $150 into your checking account before paying bills.
Buying yourself a new pair of shoes after getting payed.
Putting $100 into savings before paying bills.
10
What is a credit score?
How much money you can spend before maxing out your credit.
A test you have to take before getting a loan approved.
A numberthat tells lenders your capacity to repay a loan.
How much credit you have saved up.