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Personal Financial Literacy Review Flashcards | StudBud
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Personal Financial Literacy Review
Personal Financial Literacy Review
30 terms
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StudBud Administration
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Review Chapter 19
Flashcards
30 cards
F
Practice quiz
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Host live
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Questions
30
Answers
1
Something of value that can be claimed by a lender if loan isn't paid.
Interest
Credit
Collateral
Security
2
What is a deductible?
The amount the insurance company pays for repairs
The amount you pay for repairs
3
Bachelor's degrees = more lifelong earning power.
TRUE
FALSE
4
What is a synonym for a BOND?
Stock
Tax
Payment
Loan
5
An unincorporated business owned & run by a single person
Partnership
Sole proprietorship
Mutual Fund
Common Stock
6
In Texas, the minimum amount of car insurance you are required to have is...
Full-Coverage
Comprehensive
Collision
Liability
7
What does a stockholder hold?
A treasury bill
part of a mutual fund
a share of the corporation
the profits of a business
8
You must complete a FAFSA for all types of aid...including loans.
FALSE
TRUE
9
A group that channels savings to investors
Financial Institution
Interest
Secured Systems
Collateral
10
Default means...
You didn't pay back a loan
You didn't give money to charity
You didn't fill out the FAFSA
You didn't qualify for health insurance
11
What is an unsecured loan guaranteed by?
Promise
Collateral
Money
A vehicle title
12
Business that is a separate legal entity with rights and responsibilities of an individual
Corporation
Common Stock
Mutual Fund
Sole Proprietorship
13
Which of these is a financial institution?
All of these
Insurance company
Bank
Savings and Loan
14
Company that sells shares of a portfolio issued by other companies.
Mutual Fund
Common Stock
Corporation
Credit Card
15
Who pays a loan's interest?
a creditor
A borrower
A credit union
The lender
16
A high deductible=high premium
FALSE
TRUE
17
What is a passbook account?
A credit card
A checking account
A savings account
A bank
18
These are people (or institutions) who you owe money to... (19-1, #3)
Borrowers
Creditors
Counselors
Investors
19
Payment made for the use of borrowed money.
Collateral
Credit
Interest
Security
20
Why should a person save money?
All of these
For more freedom
To be happy
For more protection
21
You should set aside 2 weeks of your income towards RENT.
FALSE
TRUE
22
Most common form of corporate ownership.
Common Stock
Preferred Stock
Mutual Fund
Corporation
23
How much money should you save before you start renting an apartment?
All of these
1st month's rent
last month's rent
the security deposit
24
A loan that is backed up by collateral.
Unsecured
Secured
25
The purpose of a FAFSA is...
Money for college
Money for rent
Money for charities
Money for a car
26
How much of your income should go towards rent?
3 weeks
1 week
2 weeks
4 weeks
27
Adjustable-rates mean that...
Interest rates are fixed
Interest rates fluctuate
Interest rates are tax-deductible
Interest rates are high
28
When you give to a charity you can deduct the amount from your taxes.
FALSE
TRUE
29
This is the amount that must be paid to an insurance company (usually every month).
Deductible
Interest
Collateral
Premium
30
Unincorporated business owned and operated by 2 or more people
Corporation
Mutual Fund
Common Stock
Partnership
