Financial Literacy Review

Question 1

Which of these is a goo reason to balance/ reconcile your checking account

Accepted Answer

all of thes

Question 2

The Role of the FDIC is to provide insurance for customers of a:

Accepted Answer

bank

Question 3

What is the best way to repair your credit after identity fraud?

Accepted Answer

all of these

Question 4

a form of fraud where a fake business pays out to early investors from money of later investors

Accepted Answer

Ponzi Scheme

Question 5

Which of these is a good way to avoid identity theft and fraud?

Accepted Answer

all of these

Question 6

United States tax form issued by employers and stating how much an employee was paid in a year.

Accepted Answer

W2

Question 7

FAFSA is?

Accepted Answer

free application for federal student aid

Question 8

is the most reliable source of city-to-city comparisons of key consumer costs available

Accepted Answer

Cost of Living Index

Question 9

A fraudulent electroinic message that directs you to update: password, c card, social security

Accepted Answer

Phishing

Question 10

_____ is a group of laws and organizations designed to ensure the rights of consumers

Accepted Answer

Consumer Protection

Question 11

used by your employer to withhold the proper amount of federal income tax from your paycheck

Accepted Answer

W4

Question 12

The rule of 72 will tell you...

Accepted Answer

how long it will take you to double your money

Question 13

Mutual Funds reduce your risk in the market by allowing you to have many stocks at a low price. This is what principle?

Accepted Answer

Diversification

Question 14

employers have you fill out an __ to verify that you are a US citizen or eligble to work

Accepted Answer

I9

Question 15

if you had money to invest in the stock market, but want to limit your risk, and earn a high rate of return, you should:

Accepted Answer

buy mutual funds

Question 16

_________ includes: wages, commissions, and earnings.

Accepted Answer

sources of income

Question 17

The driving force behind the social science known as economics?

Accepted Answer

scarcity

Question 18

putting off instant satisfaction to achievme ones financial goals is a justification for:

Accepted Answer

all of these

Question 19

My take home pay is a reflection of my:

Accepted Answer

net income

Question 20

Which Economic System has the least government involvement in what, how, and, for whom goods are produced?

Accepted Answer

Market

Question 21

The thing about entrepreneurship is that its high risk employment, but with high risk there is

Accepted Answer

reward

Question 22

the role of advertising is to create __________ so that you will put off your goals now.

Accepted Answer

impulse buying

Question 23

Which is compounding issue?

Accepted Answer

Earning Interest on Interest

Question 24

What kind of institution will give you a short-term loan, at a high interest rate, and automatically deduct it from you?

Accepted Answer

Payday loan

Question 25

Its job is to protect consumers against unfair or deceptive acts or practices in commerce.

Accepted Answer

FTC

Question 26

_____ directs you to a bogus website that appears legit in order to obtain personal information

Accepted Answer

pharming

Question 27

The purpose of a co-signer on a loan is to:

Accepted Answer

provides additional assurance to the bank of repayment

Question 28

________ is a term that describes lenders who impose unfair or abusive loan terms on borrowers

Accepted Answer

predatory lender

Question 29

Who is responsible for bad financial decisions made?

Accepted Answer

you are

Question 30

____________ there is a correlation between academic and financial success

Accepted Answer

generally

Question 31

What type of fraud depends on new investor recruiting more people to earn more commissions?

Accepted Answer

Ponzi Scheme

Question 32

gain from ivestment - cost of invesment over cost of investment

Accepted Answer

ROI

Question 33

Which of these best explains a 529 Savings Plan?

Accepted Answer

tax-advantaged savings plan to encourage saving for college

Question 34

Which of the following is an example of an employer-sponsored tax-shelter retirement plan?

Accepted Answer

401k

Question 35

What word best fits to describe, "a periodic expense that changes regularly ?"

Accepted Answer

variable

Question 36

the ncua provides insurance on deposits for

Accepted Answer

credit unions

Financial Literacy Review

Questions 36

Financial Literacy Review

Questions 36