stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Flashcards | StudBud
Explore
/
Financial Literacy
Financial Literacy
20 terms
·
StudBud Administration
·
120 plays
A#financial literacy review for #money matters
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
The money you make the more Uncle Sam takes, is an example of what type of income tax?
Regressive tax
Flat tax rate
Compounded income Tax
Graduated Income Tax
2
What are 3 things your income taxes pay for.
Our military
Schools
Highways
Your vacation house
3
What was the purpose of Financial Literacy for Teens book?
To show you the best careers to have
Tell you how to earn more so you can spend more.
Teach how to handle and hold onto your money.
Teach you how to retire before age the of 40
4
You can make easy money if you participate in a chain e-mail from a strangers? True or False
False
True
5
If you earn $100,000/year, aproximately what % are paid in taxes?
19%
10%
30%
25%
6
Ray Kroc worked part-time as a teenager. What company did he start?
Taco Bell
Chic-Fil-A
McDonald's
Croc shoe company
7
40% of millionaires buy new cars. True or False
False
True
8
How much does a new car depreciate once you buy it and drive it off the lot?
10%
5%
40%
20%
9
If you earn 30,000 a year and work 40 years, how much money will you earn?
1,200,000
1,400,000
1,600,000
1,000,000
10
When car buying, you should consider
Never put a down payment, it's a waste of money.
Buy used with low mileage.
Always buy new, so you have a reliable car to drive.
Don't buy, lease. You can afford a more expensive car.
11
Personal spending gets out of control when?
You spend money you don't have on things you can't afford.
You use credit cards.
You get a job.
You buy two pairs of shoes instead of one.
12
Financially successful people did what as a teenager?
spent whatever money their parents gave them
Never worked because they saved all their allowance.
Made straight A's in school
worked at a part time job
13
When are tax returns due?
April 15th
May 1st
December 31st
August 15th
14
Who is Uncle Sam?
The US Post Office
Nickname for the Small Business Administration
Nickname for United States government
Character from The Accountant
15
What is "take home" pay?
The cash you receive when you deposit a check in the bank
Your NET earnings after taxes are taken out
Your GROSS earnings before taxes are taken out
16
How many hours will most of us spend in a classroom from 1st grade to the end of our education?
8,000-10,000
25,000-30,000
5,000-10,000
15,000-20,000
17
The average career for most people will last 86,000 hours. True or False
True
False
18
If you rent an apartment, house or dorm room, make sure you sign up for.
Home owner's insurance
Health insurance
Renter's insurance
Fire insurance
19
What do you have to do before you can deal with money?
spend it
earn it
give it away
save it
20
Billionaire Sam Walton worked as a teenager. He later started what company?
Arkansas State Bank?
Wal-Mart?
Target?
Walton Financial Services?
