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Financial Literacy Quiz Flashcards | StudBud
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Financial Literacy Quiz
Financial Literacy Quiz
8 terms
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StudBud Administration
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47 plays
Understanding of Financial literacy
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
What is the recommended max % of your take-home income you should spend monthly housing ?
50 percent
30 percent
45 percent
2
Insurance $600 deductible. Damage Report (Your car $800; other car $1,500) How much do you pay?
B. $1,700
C. $600
A. $200
3
Hourly rate of $8 and you worked 11 hours, but your check is under $88 Why is that?
The store you work at is allowed to take money out at will.
Your employer has the right to withhold money anytime
State and federal taxes have been taken out
4
Which type of account allows you to make an unlimited number of withdrawals without a fee?
B. Checking account
C. Savings account
A. Certificate of deposit
5
What does APR stand for?
Annual Percentage Rate
Annual Perpetual Rate
Annuity Per Refund
6
Forget to pay your cell phone bill. What kind of repercussions can you likely expect?
B. You’ll be charged a late fee
C. Your next bill will be double the price
A. Your phone will be shut off
7
Which of the following is incorrect about using an ATM?
You get information about your account at an ATM machine.
C. You can get cash anywhere in the world without a fee.
A. ATMs are usually open 24 hours a day.
8
How much should be in your emergency fund?
C. Six months worth of living expenses
B. Two months worth of rent or mortgage payments
A. $1,000
