Financial Literacy Test Review

What type of market leads to an increase in the stock market?

What is the difference between an Economic Depression and a Recession?

Which of the following is considered a PRIME credit score?

What is the key difference between a credit card and a debit card?

Which is NOT one of the Federal spending buckets?

Why did the Stock Market Crash?

Which of the following factors does NOT impact your credit score?

When talking about a loan, which means "The total amount you borrowed"?

Which should you use to create your budget?

The TWO main portions of a budget are...

My paycheck says my GROSS pay is $500 and my NET pay is $300. How much money was taken out this pay period?

Angela wants to buy a new sofa with her credit card. What is ONE reason he should be careful using her credit card?

Income is____________.

Which of the following, is NOT a government expense?

Brad isn't sure if he should use a credit card or take out a loan. What question is most useful in helping him decide?

What is a stock?

The role of the Federal Reserve is to oversee all other banks

Sophia's part-time job pays her $10.00 per hour. She worked for 10 hours this pay period. How much was her GROSS pay?

The purpose of insurance is to manage risk.

Which group tends to have the most credit card debt?

A high interest rate means you pay LESS money total

Which question would help decide is something is a need or want?

Sandra pays $363 per month for health insurance. This amount is called...

Which type of auto insurance coverage is used when ANOTHER person is injured during an accident?

A low credit score will make it easier for you to get loans or credit cards with better interest rates

Paying your full credit card balance every month helps to avoid going in to large debt on your card.