Financial Literacy Final Exam Review

An ______  tax is a tax placed on products that the consumer is not always made aware of as it is built into the price.

Which of the following can lower your credit score thus making it more difficult for you to obtain a loan?

A _____ is a short-term investment that is great for beginners and has a “Maturity” date that can vary in time.

This is another word for the amount of money that you borrowed and have to pay back, like a mortgage or car note.

As soon as an individual misses a credit card payment, this kicks in and leads to heavy debt fast!

Generally speaking, the con of this type of an account is that it earns zero interest so don't keep a lot of money in it

_____ taxes are automatically taken out of your paycheck and these are used to fund Social Security and Medicare.

A type of long-term investment that employers offer and can sometimes "Match" employee contributions at varying levels.

Microsoft is an example of this type of stock.

This type of Retirement Fund is used by non-profit organizations such as educational systems that do not match funds.

Which of the following long-term investment options are primarily used by teachers & workers in non-profit careers?

A deficit in a bank account caused by drawing more money than the account holds is known as an…

In the common Budgeting Rule known as 50/30/20, what does the 30% represent in a person’s budget?

John wants to buy gasoline for his car and a new pair of shoes he likes. He can only buy one. This scenario is known as

This type of Market tends to emphasize a downturn in the market and economy leading to less spending and inflation.

This type of healthcare plan is beneficial for individuals who have low income, are young, or have no dependents

When the demand for a product/service is high but the supply is limited what happens to the cost?

This type of long-term investment will pay a person a monthly sum for life. This investment is NOT as common anymore.